ICT, travel and tourism, insurance and finance, transport, tea, coffee, flowers, petroleum, titanium ore and textiles are major industries of Kenya. In 2017, Agriculture industry contributed 34.64% to GDP of Kenya. Manufacturing had a share of 16.53% while services industry had a share of 43.62% of GDP in 2017.
In 2017, Services industry exports was valued at USD 4.65 billion for Kenya. Chemicals export accounted for USD 554 million, minerals for USD 609 million, textiles for USD 529 million and agriculture for USD 4.08 billion in 2017.
Kenya, officially the Republic of Kenya, is a sovereign state in the African Great Lakes region of East Africa. Its capital and largest city is Nairobi. Kenya lies on the equator with the Indian Ocean to the south-east, Tanzania to the south, Uganda to the west, South Sudan to the north-west, Ethiopia to the north and Somalia to the north-east. Kenya covers 224,445 square miles and has a population of roughly about 46 million.
Kenya will have estimated population of 49.364 million in the year 2019 and expected to reach 56.427 million by 2024, growing at a CAGR of 2.73%.
Kenya’s real gross domestic product (GDP) is expected to be around KES 5057.39 billion in 2019 whereas the nominal GDP is expected to be KES 10139.72 billion. This will result in GDP deflator 200.493. Per capita GDP is estimated to be at USD 2010.51 whereas purchasing power parity (PPP) based per capita GDP is estimated to be at USD 3868.63.
In 2019, Kenya government’s revenue is expected to be KES 1891.82 billion whereas the expenditure is expected to be KES 2418.66 billion. This will result in Kenyan government’s net lending / borrowing negative at KES 526.843 billion in 2019 indicating that enough financial resources will not be made available by the government to boost economic growth.
The current account balance for Kenya is expected to be negative at USD 4.977 billion for the year 2019 and is expected to decrease at a CAGR of 5.70% and reach USD 7.399 by 2024. This negative current account balance indicates the Kenya will be a net borrower from the whole world.
In World Bank’s ease of doing business ranking Kenya was ranked 61 out of 190 countries in 2018. Kenya’s ease of doing business ranking has improved from 92nd position in 2017.
*If Applicable.