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Kenya Economy 2014
http://www.theodora.com/wfbcurrent/kenya/kenya_economy.html
SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 28, 2014

Economy - overview:
Kenya has been hampered by corruption and by reliance upon several primary goods whose prices have remained low. Low infrastructure investment threatens Kenya's long-term position as the largest East African economy. In the key December 2002 elections, Daniel MOI's 24-year-old reign ended, and a new opposition government took on the formidable economic problems facing the nation. After some early progress in rooting out corruption and encouraging donor support, the KIBAKI government was rocked by high-level graft scandals in 2005 and 2006. In 2006, the World Bank and IMF delayed loans pending action by the government on corruption. The international financial institutions and donors have since resumed lending, despite little action on the government''s part to deal with corruption. Unemployment is very high. The country has experienced chronic budget deficits, inflationary pressures, and sharp currency depreciation - as a result of high food and fuel import prices. The discovery of oil in March 2012 provides an opportunity for Kenya to balance its growing trade deficit if the deposits are found to be commercially viable and Kenya is able to develop a port and pipeline to export its oil.

GDP (purchasing power parity):
$75 billion (2012 est.)
country comparison to the world: 84

$71.73 billion (2011 est.)
$68.72 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$40.15 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.6% (2012 est.)
country comparison to the world: 76

4.4% (2011 est.)
5.8% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,800 (2012 est.)
country comparison to the world: 196

$1,800 (2011 est.)
$1,700 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
9.5% of GDP (2012 est.)
country comparison to the world: 126

10.8% of GDP (2011 est.)
12.4% of GDP (2010 est.)

GDP - composition, by end use:
household consumption: 79.8%
government consumption: 17.2%
investment in fixed capital: 20.4%
investment in inventories: -0.3%
exports of goods and services: 27.3%
imports of goods and services: -44.5%

(2012 est.)
[see also: country ranks ]

GDP - composition, by sector of origin:
agriculture: 29.3%
industry: 17.4%
services: 53.6% (2012 est.)

Agriculture - products:
tea, coffee, corn, wheat, sugarcane, fruit, vegetables; dairy products, beef, 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:
4.5% (2012 est.)
country comparison to the world: 66
[see also: Industrial production growth rate country ranks ]

Labor force:
19.11 million (2012 est.)
country comparison to the world: 32
[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% (2008 est.)
country comparison to the world: 187

40% (2001 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
50% (2000 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)

Distribution of family income - Gini index:
42.5 (2008 est.)
country comparison to the world: 49

44.9 (1997)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $7.418 billion
[see also: Budget revenues country ranks ]
expenditures: $9.485 billion (2012 est.)

Taxes and other revenues:
18.5% of GDP (2012 est.)
country comparison to the world: 175
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-5.1% of GDP (2012 est.)
country comparison to the world: 170
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
52.5% of GDP (2012 est.)
country comparison to the world: 56

53.4% of GDP (2011 est.)
[see also: Public debt country ranks ]

Fiscal year:
1 July - 30 June

Inflation rate (consumer prices):
9.4% (2012 est.)
country comparison to the world: 195

14% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
7% (31 December 2010 est.)

NA% (31 December 2009 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
19.7% (31 December 2012 est.)
country comparison to the world: 41

15.05% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$8.264 billion (31 December 2012 est.)
country comparison to the world: 82

$7.32 billion (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$21.23 billion (31 December 2012 est.)
country comparison to the world: 84

$17.89 billion (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$20.93 billion (31 December 2012 est.)
country comparison to the world: 78

$18.25 billion (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$10.2 billion (31 December 2011)
country comparison to the world: 67

$14.46 billion (31 December 2010)
$10.76 billion (31 December 2009)
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$-4.31 billion (2012 est.)
country comparison to the world: 161

$-3.333 billion (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$6.228 billion (2012 est.)
country comparison to the world: 104

$5.792 billion (2011 est.)
[see also: Exports country ranks ]

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

Exports - partners:
Uganda 10.3%, Tanzania 10%, Netherlands 7.7%, UK 7.2%, US 6.3%, Egypt 4.8%, Democratic Republic of the Congo 4.4% (2012)

Imports:
$15.1 billion (2012 est.)
country comparison to the world: 87

$14.16 billion (2011 est.)
[see also: Imports country ranks ]

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

Imports - partners:
India 20.9%, China 15.4%, UAE 9.8%, Saudi Arabia 6.9% (2012)

Reserves of foreign exchange and gold:
$5.712 billion (31 December 2012 est.)
country comparison to the world: 88

$4.265 billion (31 December 2011 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$11.06 billion (31 December 2012 est.)
country comparison to the world: 97

$10.26 billion (31 December 2011 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$2.877 billion (31 December 2012 est.)
country comparison to the world: 94

$2.618 billion (31 December 2011 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$315.4 million (31 December 2012 est.)
country comparison to the world: 84

$299.4 million (31 December 2011 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Kenyan shillings (KES) per US dollar -

84.53 (2012 est.)
88.811 (2011 est.)
79.233 (2010 est.)
77.352 (2009)
68.358 (2008)


NOTE: The information regarding Kenya on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Kenya Economy 2014 information contained here. All suggestions for corrections of any errors about Kenya Economy 2014 should be addressed to the CIA.



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