Public Management

Kenya: GDP jumps to 6.8% in Q1-2022

Kenya: GDP jumps to 6.8% in Q1-2022
Monday, 04 July 2022 16:48

During the period, Kenya’s economic growth was mainly driven by a strong recovery in the accommodation and food services, transport, construction, and ICT sectors. 

Kenya's economy grew by 6.8 percent in the first quarter of 2022 compared with 2.7 percent in the same period of 2021, according to data released on Friday, July 1, by the National Bureau of Statistics. 

This year-on-year growth was mainly due to recovery in most economic activities that contracted significantly in the first quarter of 2021, due to covid-19, the bureau informed in its release. 

The pace of economic activity accelerated in the accommodation and food services sector, which grew 56.2 percent in the first quarter of 2022, compared with a 33 percent contraction a year earlier. The growth was contributed by an increase in the number of tourists amid eased coronavirus restrictions.  Tourist arrivals through the Jomo Kenyatta International Airport and Moi International Airport increased by 85.1 percent in the first three months of 2022, to 225,321 visitors.

The transportation sector also grew by 8.1 percent in the first quarter of 2022 compared to a 7.9 percent contraction in the same period last year. Other key sectors such as construction, real estate, and information and communication technologies also grew "faster" during the first three months of the year. 

However, the agricultural sector, which accounts for about 33% of Kenya's GDP, contracted between January 1 and March 30, 2022, due to insufficient rainfall, while rising commodity prices following the war in Ukraine led to increased inflation. In 2021, Kenya's economy grew by 7.5 percent, the highest rate in the past 11 years. For 2022 however, the government expects growth to slow to 6 percent, mainly due to poor weather conditions.  

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
IMF approves reviews, unlocking about $91 million for Niger Funds support macroeconomic stability, private-sector growth and climate...
CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA training and partnerships aim to boost regional business...
BOAD plans 750 billion CFA francs financing for Burkina Faso Funds to support key sectors and Relance 2026-2030 program Bank’s cumulative financing in...
Burkina Faso has created Yennenga Holding to centralize state stakes in banks and a reinsurer. The new entity will manage holdings in BCB, BADF,...
Most Read
01

MTN Zambia tests Starlink satellite service connecting phones directly from space Direct-to...

Satellite direct-to-device telecoms: promise, momentum and hard limits
02

Since its 2019 IPO, Airtel Africa paid Deloitte over $37 million in audit and non-audit fees,...

Airtel Africa and Deloitte: A Seven-Year Relationship, $37 Million in Fees and a Planned Handover
03

Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...

Togo Passes Law to Criminalize Counterfeiting of West African CFA Franc
04

EIB commits over €1 billion for renewable energy in sub-Saharan Africa Funding supports Miss...

EIB Commits €1 Billion to Renewable Energy Under Africa’s “Mission 300” Initiative
05

Tilenga oil project required land from 4,954 households in Uganda Over 99% of affected households...

Report details land compensation for nearly 5,000 households in Uganda’s Tilenga oil project
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.