header HomePlacesMapsMap Products & ServicesHotels & TravelDestination GuidesWeb DirectoryContact

Kenya:
Economy

Flag of Kenya
Click to enlarge

Kenya Page


Economy - overview
Definition
The regional hub for trade and finance in East Africa, Kenya has been hampered by corruption and by reliance upon several primary goods whose prices have remained low. In 1997, the IMF suspended Kenya's Enhanced Structural Adjustment Program due to the government's failure to maintain reforms and curb corruption. A severe drought from 1999 to 2000 compounded Kenya's problems, causing water and energy rationing and reducing agricultural output. As a result, GDP contracted by 0.2% in 2000. The IMF, which had resumed loans in 2000 to help Kenya through the drought, again halted lending in 2001 when the government failed to institute several anticorruption measures. Despite the return of strong rains in 2001, weak commodity prices, endemic corruption, and low investment limited Kenya's economic growth to 1.2%. Growth lagged at 1.1% in 2002 because of erratic rains, low investor confidence, meager donor support, and political infighting up to the elections. In the key December 2002 elections, Daniel Arap 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. The scandals have not weighed down growth, with estimated real GDP growth at more than 6 percent in 2007.
GDP (purchasing power parity)
Definition - World rank and map
$58.88 billion (2007 est.)
GDP (official exchange rate)
Definition
$29.3 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
7% (2007 est.)
GDP - per capita
Definition - World rank and map
$1,700 (2007 est.)
GDP - composition by sector
Definition
agriculture: 23.8%
industry: 16.7%
services: 59.5% (2007 est.)
Labor force
Definition
11.85 million (2005 est.)
Labor force - by occupation
Definition
agriculture: 75%
industry and services: 25% (2003 est.)
Unemployment rate
Definition - World rank and map
40% (2001 est.)
Population below poverty line
Definition
50% (2000 est.)
Household income or consumption by percentage share
Definition
lowest 10%: 2%
highest 10%: 37.2% (2000)
Distribution of family income - Gini index
Definition - World rank and map
44.5 (1997)
Inflation rate (consumer prices)
Definition - World rank and map
9.8% (2007 est.)
Investment (gross fixed)
Definition - World rank and map
20.4% of GDP (2007 est.)
Budget
Definition
revenues: $5.525 billion
expenditures: $6.493 billion (2007 est.)
Public debt
Definition - World rank and map
40.5% of GDP (2007 est.)
Agriculture - products
Definition
tea, coffee, corn, wheat, sugarcane, fruit, vegetables; dairy products, beef, pork, poultry, eggs
Industries
Definition
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
Definition - World rank and map
6.1% (2007 est.)
Electricity - production
Definition - World rank and map
5.502 billion kWh (2005)
Electricity - consumption
Definition - World rank and map
4.464 billion kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
117.7 kWh (2005)
Electricity - exports
Definition
0 kWh (2005)
Electricity - imports
Definition
28 million kWh (2005)
Oil - production
Definition - World rank and map
0 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
64,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
1.7 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
8,563 bbl/day (2004)
Oil - imports
Definition - World rank and map
70,540 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
-$1.014 billion (2007 est.)
Exports
Definition - World rank and map
$4.054 billion f.o.b. (2007 est.)
Exports - commodities
Definition
tea, horticultural products, coffee, petroleum products, fish, cement
Exports - partners
Definition
Uganda 16.9%, UK 9.7%, Tanzania 8.2%, Netherlands 8.1%, US 6.4%, Pakistan 5.2% (2006)
Imports
Definition - World rank and map
$8.54 billion f.o.b. (2007 est.)
Imports - commodities
Definition
machinery and transportation equipment, petroleum products, motor vehicles, iron and steel, resins and plastics
Imports - partners
Definition
UAE 11.4%, China 9.9%, India 8.7%, Saudi Arabia 8%, South Africa 6.3%, US 6.2%, Japan 5.9%, UK 4.7% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$3.355 billion (31 December 2007 est.)
Debt - external
Definition - World rank and map
$6.713 billion (31 December 2007 est.)
Stock of direct foreign investment - at home
Definition
$1.249 billion (2007 est.)
Stock of direct foreign investment - abroad
Definition
$47.4 million (2007 est.)
Market value of publicly traded shares
Definition
$11.38 billion (2006)
Economic aid - recipient
Definition
$768.3 million (2005)
Currency (code)
Definition
Kenyan shilling (KES)
Exchange rates
Definition
Kenyan shillings per US dollar - 68.309 (2007), 72.101 (2006), 75.554 (2005), 79.174 (2004), 75.936 (2003)
Fiscal year
Definition
1 July - 30 June


Google
 
Web sitesatlas.com