Kenya Economic Survey 2023

Kenya Economic Survey 2023

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Summary

Real Gross Domestic Product (GDP) expanded by 4.8 per cent in 2022 compared to a revised growth of 7.6 per cent in 2021. The growth was spread across all sectors of the economy but was more pronounced in service-oriented activities. Agriculture, Forestry and Fishing sector was sec tor contracted by 1.6 per cent in 2022 compared to a contraction of 0.4 per cent in 2021. This was attributed to drought conditions that characterized the period under review. Some of the key sectors that supported growth were Financial and Insurance (12.8%), Information and Communication (9.9%), and Transportation and Storage (5.6%). Nominal GDP increased from KSh 12,027.7 billion in 2021 to KSh 13,368.3 billion in 2022.

Source: Kenya National Bureau of Statistics

Published: 2023

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