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Kenya Economy Picked Up in Third Quarter at 9.9%

David Indeje is Khusoko’s Digital Editor, covering East African markets.
Kenya announces the official launch of the Nairobi International Financial Centre

Nairobi, Kenya - PSCU

The Kenyan economy picked up in the third quarter of the year following the easing of pandemic restrictions, the statistics body said Friday.

The country’s gross domestic product in the quarter grew 9.9 per cent on-year, data released by the Kenya National Bureau of  Statistical Office on Friday showed, compared to compared with a contraction of 2.1 per cent the same period in 2020.

“Economic recovery from the effects of COVID-19 pandemic continued in the 3rd quarter of 2021 as a result of easing of containment measures. Real GDP grew by 9.9 per cent in the 3rd quarter. This follows an earlier impressive 2nd quarter performance of 10.1% of Real GDP growth of 2021,” Ukur Yatani, the National Treasury and Planning Cabinet Secretary said.

The Kenya National Bureau of Statistics (KNBS) said the performance was driven by significant rebounds in economic activities that had contracted in the third quarter of 2020. 

“Some of the sectors that supported overall growth included Manufacturing (9.5%), Education (64.7%), Transportation and Storage (13.0%), Accommodation and Food Serving Activities (24.8%) and, Financial and Insurance Activities (6.7%).”

However, the Agriculture, Forestry and Fishing sector contracted by 1.8 per cent in the review compared to 4.2 per cent growth in the same quarter of 2020.

This was attributed to drought conditions across the country.

“The sector’s performance was somewhat supported from a steeper contraction by increased milk production as well as an increase in exports of cut flower and vegetable during the quarter under review.”

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David Indeje is Khusoko’s Digital Editor, covering East African markets.

In my role as Community Engagement Editor For Khusoko, I care about our audience. engaging them, getting news delivered to them across a variety of platforms, and expanding the diversity of voices on our website.

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