Kenya’s real Gross Domestic Product (GDP) is estimated to have expanded by 6.3 per cent in 2018 compared to 4.9 per cent in 2017, this is according to a report released on Thursday by the Kenya National Bureau of Statistics(KNBS).
The growth was attributable to increased agricultural production, accelerated manufacturing activities, sustained growth in transportation and vibrant service sector activities.
Agricultural activities benefitted from sufficient rains that were well spread throughout the country. Similarly, the increased precipitation was a significant boost to electricity generation and consequently favorable to growth during the review period.
According to the economic survey 2019, the agriculture, forestry and fishing sector growth accelerated from a revised growth of 1.9 per cent in 2017 to 6.4 per cent in 2018.
The manufacturing sector expanded by 4.2 per cent compared to a revised growth of 0.5 per cent in 2017 mainly buoyed by increased agro-processing during the review period.
Other sectors that grew notably in 2018 include electricity supply, transportation and storage, information and communication technology, accommodation and food services at 10.5, 8.8, 11.4, 16.6 per cent, respectively in 2018.
The growth realized was anchored on a relatively stable macroeconomic in 2018. Inflation remained low at 4.7 per cent in 2018 compared to 8.0 per cent in 2017 majorly as a result of considerable declines in prices of food after the shortage experienced in 2017.
JK/abj/APA