The economy of Kenya advanced 5.1% year-on-year in the third quarter of 2019, following a 5.6% growth in the previous period. It was the slowest expansion since the third quarter of 2017, as activity slowed in general. The agriculture, forestry and fisheries sector, which accounts for around one third of the GDP, increased much less (3.2% vs 4.2% in Q2), as prolonged drought impacted negatively the production of key crops such as tea and sugar cane. Slower growth was also visible in manufacturing (3.1% vs 4.2%); mining & quarrying (4.3% vs 5.7%); electricity & water supply (4.9% vs 5.6%), due to insufficient rains; construction (6.6% vs 7.2%); wholesale & retail trade (4.7% vs 6%); transport & storage (7.1% vs 7.2%); information & communication (8.4% vs 11.3%); accommodation & restaurants (9% vs 10.6%); finance & insurance (5.6% vs 7.2%); real estate (4.9% vs 5.4%) and public administration (5.8% vs 6%). GDP Annual Growth Rate in Kenya averaged 5.45 percent from 2004 until 2019, reaching an all time high of 11.60 percent in the fourth quarter of 2010 and a record low of 0.20 percent in the fourth quarter of 2008. source: Kenya National Bureau of Statistics
GDP Annual Growth Rate in Kenya is expected to be 5.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Kenya to stand at 5.80 in 12 months time. In the long-term, the Kenya GDP Annual Growth Rate is projected to trend around 6.10 percent in 2020, according to our econometric models.