Home / International/ Kenyan GDP growth at 6% in third quarter 2018

Kenyan GDP growth at 6% in third quarter 2018

Comments / {{hitsCtrl.values.hits}} Views / Wednesday, 2 January 2019 00:00



NAIROBI (Reuters): Kenya’s economy expanded faster in the third quarter of this year than in the same period last year due to strong performance in the agriculture and construction sectors, the statistics office said on Monday. 

The Kenya National Bureau of Statistics said the economy grew 6% in the third quarter of 2018, compared with 4.7% in the same period in 2017. 

It said the agriculture sector expanded by 5.2% compared with 3.7% in the third quarter of 2017, helped by better weather. 

“Prices of key food crops remained low during the quarter compared to the corresponding quarter of 2017, an indication of relative stability in supply,” KNBS said. 

Manufacturing grew by 3.2% from a 0.1% contraction in the third quarter of 2017, KNBS said. 

It said that the electricity and water supply sector grew by 8.5% from 4.5% in the third quarter of 2017, mainly due to a big increase in the generation of electricity from hydro and geothermal sources. 

Gross foreign reserves increased to 1,222.5 billion from 1,085.6 billion in the same period of last year. 

The current account deficit narrowed by 23% to 116 billion Kenyan shillings ($1.14 billion), it said. 

This was mainly due to lower imports of food and higher value of exports of goods and services. 

The Government forecasts that the economy will expand by 6.2% in 2019, up from a forecast 6.0% this year.

Share This Article

Facebook Twitter


1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.


Today's Columnists

Implementing SC Orders

Wednesday, 26 June 2019

The Supreme Court on 18 April has ordered six Ministries, their Secretaries and three Government authorities to take immediate several effective measures to be enforced in the design and construction of all parts of new buildings and services the pub

Need for an education revolution: Future of our kids and the nation is at risk – Part I

Wednesday, 26 June 2019

It is said that a country is only good as her people. A country belongs to her people. In a democratic country, people elect the leaders to manage the country on their behalf. Hence, to be hailed as a progressive country, it is paramount for a countr

Universalism versus tribalism

Wednesday, 26 June 2019

The most venerable Warakagoda Sri Gnanarathana Thero Mahanayake of the Asgiriya chapter has announced that his recent remarks, have been misconstrued and distorted. The authenticity of recorded information in cyber space is an inconvenient truth of t

A sermon on stoning

Tuesday, 25 June 2019

It is generally assumed we have passed the Stone Age, the Bronze Age, the Iron Age, the Industrial Age, and the Space Age.After a breath-taking dive in to the Digital Age, we are well on our way to the Age of Automation and Artificial Intelligence. N

Columnists More