Kenya-Economy

Kenyan economy hit by "slight" slowdown

APA-Nairobi (Kenya)

The Kenyan Bureau of Statistics has revealed that the country's economic growth has slowed down in the first three months of 2020, APA can report on Wednesday.

During the period under review the Kenyan economy improved by 4.9 percent, representing a slight slow down from 5.5 percent experienced during the same period in 2019.

The country's main statisticians observed that the hardest hit sector has been tourism which suffered losses due to cancelled travelled plans by tourists to the East African nation following the outbreak of the coronavirus.

Other sectors adversely affected include retail trade, agriculture and transportation.

The other industry not spared the Covid-19 bug is the financial service sector. 

Kenya’s earnings from exports had also taken a hit thanks to the deleterious effect of the pandemic on major global economies such as the United States. China and the European Union, the East African nations main trading partners.  


WN/as/APA

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