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.
• The five-year plan allocates 388 billion pulas to boost growth and jobs.• Focus areas include tran...
• Parliament approves Virtual Asset Service Providers Bill 2025 to regulate digital assets• Central ...
Indorama to invest $210M in Senegal phosphate sector upgrade ICS to expand fertilizer, acid ...
• The Bank urges Nigeria to raise excise taxes on alcohol, tobacco, and sugary drinks.• Current rate...
Copper prices hit $10,775/t, their highest since May 2024, driven by a weak dollar and recent...
Ghana in talks with Brazil’s Nutroeste to boost livestock sector Partnership aims to improve feed tech, training, and sustainability High feed...
Africa’s grid lag threatens renewable energy rollout, experts warn Transmission investment under 15% of power spending, IEA says $454B needed...
IMF cuts WAEMU 2025 growth forecast to 5.9% Strong demand, services, and construction support regional activity Senegal downgraded sharply;...
Senegal pilots e-procurement platform to boost transparency Reform targets fraud reduction, faster tenders, and savings Full rollout set for...
The Great Zimbabwe National Monument stands as one of southern Africa’s most iconic archaeological sites, a silent witness to a thriving African...
African countries prepare to celebrate Intangible Cultural Heritage Day Planned events spotlight traditions, rituals, and cultural...