| Economy | Kenya |
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Economy - overview:
|
Although 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. The IMF, which had resumed loans in 2000 to help Kenya through a drought, again halted lending in 2001 when the government failed to institute several anticorruption measures. 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. Post-election violence in early 2008, coupled with the effects of the global financial crisis on remittance and exports, reduced GDP growth to 1.7 in 2008, but the economy rebounded in 2009-11. |
GDP (purchasing power parity):
|
$71.5 billion (2011 est.)
$67.93 billion (2010 est.)
$64.36 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
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$1,700 (2011 est.)
$1,700 (2010 est.)
$1,700 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
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$36.1 billion (2011 est.) |
GDP - real growth rate:
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5.3% (2011 est.)
5.6% (2010 est.)
2.6% (2009 est.) |
GDP - composition by sector:
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agriculture: 22.2%
industry: 16.4%
services: 64.6% (2011 est.) |
Investment (gross fixed):
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20.6% of GDP (2011 est.) |
Population below poverty line:
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50% (2000 est.) |
Household income or consumption by percentage share:
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lowest 10%: 1.8%
highest 10%: 37.8% (2005) |
Distribution of family income - Gini index:
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42.5 (2008 est.)
44.9 (1997) |
Inflation rate (consumer prices):
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11% (2011 est.)
4% (2010 est.) |
Central bank discount rate:
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7% (31 December 2010 est.)
NA% (31 December 2009 est.) |
Commercial bank prime lending rate:
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14.4% (31 December 2011 est.)
14.37% (31 December 2010 est.) |
Stock of money:
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$6.068 billion (31 December 2008)
$5.912 billion (31 December 2007) |
Stock of money - per capita:
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148 USD per capita |
Stock of quasi money:
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$5.468 billion (31 December 2008)
$6.464 billion (31 December 2007) |
Stock of quasi money - per capita:
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134 USD per capita |
Stock of domestic credit:
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$15.62 billion (31 December 2011 est.)
$16.12 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
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381 USD per capita |
Stock of narrow money:
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$7.096 billion (31 December 2011 est.)
$7.148 billion (31 December 2010 est.) |
Stock of broad money:
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$17.72 billion (31 December 2011 est.)
$15.82 billion (31 December 2010 est.) |
Labor force:
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18.39 million (2011 est.) |
Labor force participation rate:
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44.78 % of population |
Labor force - by occupation:
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agriculture: 75%
industry and services: 25% (2007 est.) |
Unemployment rate:
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40% (2008 est.)
40% (2001 est.) |
Unemployment, youth ages 15-24:
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void |
Budget:
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revenues: $7.038 billion
expenditures: $9.11 billion (2011 est.) |
Budget revenues per capita:
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172 USD per capita |
Taxes and other revenues:
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19.5% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
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-5.7% of GDP (2011 est.) |
Public debt:
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48.5% of GDP (2011 est.)
47.7% of GDP (2010 est.) |
Industries:
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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:
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3.8% (2011 est.) |
Electricity - production:
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6.79 billion kWh (2008 est.) |
Electricity - production per capita:
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166 kWh per capita |
Electricity - consumption:
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5.738 billion kWh (2008 est.) |
Electricity - consumption - per capita:
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140 kWh per capita |
Electricity - exports:
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41 million kWh (2008 est.) |
Electricity - imports:
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16 million kWh (2008 est.) |
Oil - production:
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136.2 bbl/day (2010 est.) |
Oil - production per capita:
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4 bbl/day per capita |
Oil - consumption:
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78,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
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0.69 bbl/year per capita |
Oil - exports:
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8,061 bbl/day (2009 est.) |
Oil - imports:
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80,160 bbl/day (2009 est.) |
Oil - proved reserves:
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0 bbl (1 January 2011 est.) |
Natural gas - production:
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0 cu m (2009 est.) |
Natural gas - production per capita:
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void |
Natural gas - consumption:
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0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
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0 cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
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tea, coffee, corn, wheat, sugarcane, fruit, vegetables; dairy products, beef, pork, poultry, eggs |
Current account balance:
|
-$2.636 billion (2011 est.)
-$2.328 billion (2010 est.) |
Current account balance - per capita:
|
-64 USD per capita |
Exports:
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$5.443 billion (2011 est.)
$5.22 billion (2010 est.) |
Exports per capita:
|
133 USD per capita |
Exports - commodities:
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tea, horticultural products, coffee, petroleum products, fish, cement |
Exports - partners:
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Uganda 10.1%, Tanzania 9.8%, UK 8.8%, Netherlands 8.2%, US 5.8%, Egypt 4.7%, Democratic Republic of the Congo 4.3% (2010) |
Imports:
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$11.87 billion (2011 est.)
$11.2 billion (2010 est.) |
Imports per capita:
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290 USD per capita |
Imports - commodities:
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machinery and transportation equipment, petroleum products, motor vehicles, iron and steel, resins and plastics |
Imports - partners:
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China 13.6%, India 13.4%, UAE 9.7%, South Africa 8.4%, Saudi Arabia 6.8%, Japan 4.7% (2010) |
Reserves of foreign exchange and gold:
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$5.282 billion (31 December 2011 est.)
$4.321 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
129 USD per capita |
Debt - external:
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$8.961 billion (31 December 2011 est.)
$8.465 billion (31 December 2010 est.) |
Debt - external - per capita:
|
219 USD per capita |
Stock of direct foreign investment - at home:
|
$2.691 billion (31 December 2011 est.)
$2.262 billion (31 December 2010 est.) |
Stock of direct foreign investment - at home - per capita:
|
66 USD per capita |
Stock of direct foreign investment - abroad:
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$321.4 million (31 December 2011 est.)
$306.4 million (31 December 2010 est.) |
Stock of direct foreign investment - abroad - per capita:
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8 USD per capita |
Market value of publicly traded shares:
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$14.46 billion (31 December 2010)
$10.76 billion (31 December 2009)
$10.92 billion (31 December 2008) |
Market value of publicly traded shares - per capita:
|
353 USD per capita |
Currency (code):
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Kenyan shilling (KES) |
Exchange rates:
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Kenyan shillings (KES) per US dollar -
86.23 (2011 est.)
79.233 (2010 est.)
77.352 (2009)
68.358 (2008)
68.309 (2007) |
Fiscal year:
|
1 July - 30 June |
|
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