Kenya Quarterly Gross Domestic Product Third Quarter 2010

Abstract

Provisional results for the first nine months of 2010 show that Kenya’s economic performance was better than earlier anticipated and might now be approaching the level reached before the 2007 post election crisis. Average growth rate for the first three quarters of 2010 was 5.4 per cent compared to 2.1 per cent and 2.3 per cent for similar periods in 2008 and 2009 respectively

This turn of events may largely be attributed to favourable weather conditions, increased liquidity in the banking system, and prudent macroeconomic management. These factors have encouraged a steady growth since the first quarter of the year; leading to a turnaround in sectors of agriculture, electricity and water and a rebound in most of the other sectors. As a consequence, manufacturing, construction and the service industries have been favoured by reliable supply of electricity and resilient domestic demand therefore compounding the growth.

Real gross domestic product at market prices is estimated to have increased by 6.1 per cent in the third quarter of 2010 compared to a growth of 0.5 per cent in the same period of 2009, reaching almost the 2007 level