Kenya’s Economic Growth Slows in 2019 to 5.4pct

Kenya's Economic Growth Slows in 2019 to 5.4pct

Kenya’s GDP grew by 5.4 percent in 2019 according to the Economic Survey by the National Bureau of Statistics. 

Kenya’s economy was subdued in 2019 growing by 5.4 percent from 6.3 per cent in 2018 percent, the national statistics bureau said on Tuesday.

The Kenya National Bureau of Statistics (KNBS) said the country’s real gross domestic product (GDP) for the year growth was curtailed mostly by a slowdown in activities of agriculture, manufacturing and construction sectors.

“The real Gross Domestic Product (GDP) grew by 5.4 per cent in 2019 compared to a growth of 6.3 per cent in 2018. The growth, albeit slower than 2018 was spread across all sectors of the economy but was more pronounced in service oriented sectors,” said Ukur Yatani Cabinet Secretary, the National Treasury, and Planning, during the launch of the 2020 Economic Survey Report.

Agriculture grew by 3.6 percent in 2019, compared with 6 percent in 2018, due to drought and the heavy rainfall received during the period.

The manufacturing sector declined, growing by 3.2 percent in 2019 compared to 4.3 percent the previous year. 

The construction sector grew by 6.4 percent, down from 6.9 percent in 2018.

Kenya's Economic Growth Slows in 2019 to 5.4pct

The National Treasury had estimated a 6.0 percent from previously projected 6.2 percent for 2019 supported by the stable macroeconomic environment, investments in the strategic areas under the “Big Four” Plan.

On the other hand, the  World Bank lowered its forecast by 5.7% in 2019, a slight decrease from an earlier estimated 5.8% growth experienced in 2018.