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Kenya Economy 2016
https://allcountries.org/world_fact_book_2016/kenya/kenya_economy.html
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES











Kenya Economy 2016
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 11, 2016

Economy - overview:
Kenya is the economic and transport hub of East Africa. Kenya’s real GDP growth has averaged around 5% for the past several years. Nevertheless, Kenya is among the low middle income countries. While Kenya has a growing entrepreneurial middle class, faster growth and poverty reduction is hampered by corruption and by reliance upon several primary goods. Unemployment is high at around 40%.Agriculture remains the backbone of the Kenyan economy, contributing 25% of GDP. About 80% of Kenya’s population of roughly 42 million work at least part-time in the agricultural sector, including livestock and pastoral activities. Over 75% of agricultural output is from small-scale, rain-fed farming or livestock production.Inadequate infrastructure threatens Kenya's long-term position as the largest East African economy, although the KENYATTA administration sought external investment in infrastructure development. International financial lenders and donors remain important to Kenya's economic growth and development, but Kenya has also successfully raised capital in the global bond market. Kenya issued its first sovereign bond offering in mid-2014, generating $2 billion and continues to offer bonds to external investors at increasingly high interest rates. Nairobi has contracted with a Chinese company to begin construction of a new standard gauge railway, but the project allegedly has been beset by corruption and fraud. The country is in the process of devolving some state revenues and responsibilities to the counties. Inflationary pressures and sharp currency depreciation peaked in early 2012 but have since abated following low global food and fuel prices and monetary interventions by the Central Bank. Chronic budget deficits, including a shortage of funds in mid-2015, have plagued the government’s ability to implement proposed development programs.

GDP (purchasing power parity):
$143.1 billion (2015 est.) $134.3 billion (2014 est.) $127.5 billion (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 75
[see also: GDP country ranks ]

GDP (official exchange rate):
$63.12 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
6.5% (2015 est.) 5.3% (2014 est.) 4.7% (2013 est.)
country comparison to the world: 22
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$3,300 (2015 est.) $3,100 (2014 est.) $3,000 (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 185
[see also: GDP - per capita country ranks ]

Gross national saving:
14.1% of GDP (2015 est.) 11% of GDP (2014 est.) 11.2% of GDP (2013 est.)
country comparison to the world: 124
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 78.7%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 13.7%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 23.6%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -1%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 16.1%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -31.1% (2015 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 29.9%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 19.5%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 50.6% (2015 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
tea, coffee, corn, wheat, sugarcane, fruit, vegetables; dairy products, beef, fish, pork, poultry, eggs

Industries:
small-scale consumer goods (plastic, furniture, batteries, textiles, clothing, soap, cigarettes, flour), agricultural products, horticulture, oil refining; aluminum, steel, lead; cement, commercial ship repair, tourism

Industrial production growth rate:
6.1% (2015 est.)
country comparison to the world: 21
[see also: Industrial production growth rate country ranks ]

Labor force:
18.21 million (2015 est.)
country comparison to the world: 35
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 75%
[see also: Labor force - by occupation - agriculture country ranks ]
industry and services: 25% (2007 est.)

Unemployment rate:
40% (2013 est.) 40% (2001 est.)
country comparison to the world: 196
[see also: Unemployment rate country ranks ]

Population below poverty line:
43.4% (2012 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.8%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 37.8% (2005)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
42.5 (2008 est.) 44.9 (1997)
country comparison to the world: 51
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $10.6 billion
[see also: Budget revenues country ranks ]
expenditures: $14.55 billion (2015 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
16.8% of GDP (2015 est.)
country comparison to the world: 182
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-6.3% of GDP (2015 est.)
country comparison to the world: 185
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
48.6% of GDP (2015 est.) 46.3% of GDP (2014 est.)
country comparison to the world: 85
[see also: Public debt country ranks ]

Fiscal year:
1 July - 30 June

Inflation rate (consumer prices):
6.4% (2015 est.) 6.9% (2014 est.)
country comparison to the world: 186
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
7% (31 December 2010)
country comparison to the world: 45
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
16% (31 December 2015 est.) 16.5% (31 December 2014 est.)
country comparison to the world: 31
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$10.01 billion (31 December 2015 est.) $10.34 billion (31 December 2014 est.)
country comparison to the world: 77
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$24.02 billion (31 December 2014 est.) $18.92 billion (31 December 2013 est.)
country comparison to the world: 83
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$26.61 billion (31 December 2015 est.) $26.37 billion (31 December 2014 est.)
country comparison to the world: 78
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$14.79 billion (31 December 2012 est.) $10.2 billion (31 December 2011) $14.46 billion (31 December 2010 est.)
country comparison to the world: 69
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$6.044 billion (2015 est.) -$6.339 billion (2014 est.)
country comparison to the world: 174
[see also: Current account balance country ranks ]

Exports:
$5.679 billion (2015 est.) $6.174 billion (2014 est.)
country comparison to the world: 105
[see also: Exports country ranks ]

Exports - commodities:
tea, horticultural products, coffee, petroleum products, fish, cement

Exports - partners:
Uganda 11.8%, US 7.7%, Netherlands 7.5%, Tanzania 7.4%, Zambia 5.7%, UK 5.6%, Egypt 4.4%, Pakistan 4.3%, UAE 4.1% (2014)

Imports:
$16.2 billion (2015 est.) $17.61 billion (2014 est.)
country comparison to the world: 81
[see also: Imports country ranks ]

Imports - commodities:
machinery and transportation equipment, petroleum products, motor vehicles, iron and steel, resins and plastics

Imports - partners:
China 23.4%, India 21.3%, US 7.6%, UAE 6%, Japan 4.5% (2014)

Reserves of foreign exchange and gold:
$7.356 billion (31 December 2015 est.) $7.911 billion (31 December 2014 est.)
country comparison to the world: 84
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$17.16 billion (31 December 2014 est.) $13.47 billion (31 December 2013 est.)
country comparison to the world: 93
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$4.762 billion (31 December 2015 est.) $3.902 billion (31 December 2014 est.)
country comparison to the world: 99
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$NA (31 December 2015 est.) $NA (31 December 2014 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Kenyan shillings (KES) per US dollar - 99.73 (2015 est.) 87.92 (2014 est.) 87.92 (2013 est.) 84.53 (2012 est.) 88.81 (2011 est.)


NOTE: The information regarding Kenya on this page is re-published from the 2016 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Kenya Economy 2016 information contained here. All suggestions for corrections of any errors about Kenya Economy 2016 should be addressed to the CIA.




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