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Economy and GDP of Kenya

Finance minister of Kenya - David MwirariaThe Ministry of Finance headed by David Mwiraria has a vision of excelling in the prudent management of the economy in order to maximize the welfare of all Kenyans.
Kenya is considered the regional hub for trade and finance in East Africa and has been relying upon several primary goods whose prices have remained low.

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. In 2003, progress was made in rooting out corruption and encouraging donor support. GDP grew more than 5% in 2005.

 

Facts on the Economy of Kenya

GDP of Kenya (purchasing power parity):
$37.15 billion (2005 est.)
GDP of Kenya (official exchange rate):
$16.11 billion (2005 est.)
GDP of Kenya- real growth rate in Kenya:
5.2% (2005 est.)
GDP of Kenya - per capita o(PPP):
$1,100 (2005 est.)
GDP of Kenya - composition by sector:
agriculture: 16.3%
industry: 18.8%
services: 65.1% (2004 est.)
Labor force in Kenya:
11.85 million (2005 est.)
Labor force - by occupation in Kenya:
agriculture: 75%
industry and services: 25% (2003 est.)
Unemployment rate in Kenya:
40% (2001 est.)
Population below poverty line:
50% (2000 est.)
Household income or consumption by percentage share:
lowest 10%: 2%
highest 10%: 37.2% (2000)
Distribution of family income - Gini index:
44.5 (1997)
Inflation rate (consumer prices):
12% (2005 est.)
Investment (gross fixed):
17.2% of GDP (2005 est.)
Budget of Kenya:
revenues: $3.715 billion
expenditures: $3.88 billion; including capital expenditures of $NA (2005 est.)
Public debt of Kenya:
67.4% of GDP (2005 est.)
Agriculture - products in Kenya:
tea, coffee, corn, wheat, sugarcane, fruit, vegetables; dairy products, beef, pork, poultry, eggs
Industries in Kenya:
small-scale consumer goods (plastic, furniture, batteries, textiles, soap, cigarettes, flour), agricultural products, oil refining; aluminum, steel, lead; cement, commercial ship repair, tourism
Industrial production growth rate in Kenya:
4.6% (2005 est.)
Electricity - production in Kenya:
4.342 billion kWh (2003)
Electricity - production by source in Kenya:
fossil fuel: 17.7%
hydro: 71%
nuclear: 0%
other: 11.3% (2001)
Electricity - consumption in Kenya:
4.238 billion kWh (2003)
Electricity - exports in Kenya:
0 kWh (2003)
Electricity - imports into Kenya:
200 million kWh (2003)
Oil - production in Kenya :
0 bbl/day (2003 est.)
Oil - consumption in Kenya:
52,000 bbl/day (2003 est.)
Oil - exports of Kenya:
NA bbl/day
Oil - imports into Kenya:
NA bbl/day
Natural gas - production in Kenya:
0 cu m (2003 est.)
Natural gas - consumption in Kenya:
0 cu m (2003 est.)
Current account balance in Kenya :
$-694 million (2005 est.)
Exports from Kenya:
$3.173 billion f.o.b. (2005 est.)
Exports - commodities:
tea, horticultural products, coffee, petroleum products, fish, cement
Exports - partners of Kenya:
Uganda 13.2%, UK 11.3%, US 10.5%, Netherlands 8.1%, Egypt 4.8%, Tanzania 4.4%, Pakistan 4.3% (2004)
Imports into Kenya:
$5.126 billion f.o.b. (2005 est.)
Imports - commodities :
machinery and transportation equipment, petroleum products, motor vehicles, iron and steel, resins and plastics
Imports - partners in Kenya :
UAE 12.5%, Saudi Arabia 9.1%, South Africa 8.7%, US 7.7%, India 7.2%, UK 6.7%, China 6.4%, Japan 5% (2004)
Reserves of foreign exchange and gold:
$1.67 billion (2005 est.)
Debt - external of Kenya :
$7.349 billion (2005 est.)
Economic aid - recipient of Kenya:
$453 million (1997)
Currency (code) for Kenya :
Kenyan shilling (KES)
Currency code :
KES
Exchange rates of Kenya
Kenyan shillings per US dollar - 75.554 (2005), 79.174 (2004), 75.936 (2003), 78.749 (2002), 78.563 (2001)
Fiscal year of Kenya :
1 July - 30 June

 

 

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