Browsing: Africa economic review

Kenya's economy in 2023
  • The economy recorded an average growth of 5.6 percent in the period between January to September 2022 
  • The Country’s Q3’ 2022 Gross Domestic Product (GDP) hit 4.7 percent. 
  • The growth was largely driven by the non-agricultural sectors

The Kenyan economy recorded an average growth of 5.6 percent in the period between January to September 2022 according to the latest report by Cytonn Investments. 

The annual markets report indicates that the country’s third quarter Q3 Gross Domestic Product (GDP) hit 4.7 percent, adding to the 5.2 percent and 6.8 percent growth recorded in Q2 and Q1 respectively. 

The average GDP growth of 5.6 percent marked a decline from the 7.7 percent average growth recorded in a similar period in 2021. 

“The growth in Q3 was largely driven by the non-agricultural sectors, with accommodation and food, wholesale and retail trade, professional administrative and support, and finance and insurance sectors recording growths of