Browsing: Kenya’s GDP growth 2023 economic report

• Kenya’s GDP grew by 5.6% in 2023, driven by a rebound in agricultural activities and strong performances in transportation, communication, and hospitality sectors.
• The manufacturing sector saw mixed results with modest growth in food production and significant increases in non-food manufacturing.
• Despite inflation remaining stable and financial indicators showing growth, the Nairobi Securities Exchange saw a decline, highlighting some challenges amid the overall economic recovery.

Kenya’s economy achieved a significant milestone in 2023, recording a robust Gross Domestic Product (GDP) growth of 5.6 percent, official data from the Kenya National Bureau of Statistics showed on Monday. This impressive growth rate, up from a revised 4.9 per cent in 2022, marks a notable recovery driven largely by the agricultural sector’s rebound and a strong performance across various industries.

The 2024 Economic Survey Report paints a comprehensive picture of the factors contributing to this resurgence, highlighting both the successes and challenges faced …