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Kenya:
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Other pages in this profile of Kenya:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
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Economy - overview |
Definition 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. A severe drought from 1999 to 2000 compounded Kenya's problems, causing water and energy rationing and reducing agricultural output. As a result, GDP contracted by 0.2% in 2000. The IMF, which had resumed loans in 2000 to help Kenya through the drought, again halted lending in 2001 when the government failed to institute several anticorruption measures. Despite the return of strong rains in 2001, weak commodity prices, endemic corruption, and low investment limited Kenya's economic growth to 1.2%. Growth lagged at 1.1% in 2002 because of erratic rains, low investor confidence, meager donor support, and political infighting up to the elections. 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. The scandals have not weighed down growth, with estimated real GDP growth at more than 6 percent in 2007. |
GDP (purchasing power parity) |
Definition - World rank and map $58.88 billion (2007 est.) |
GDP (official exchange rate) |
Definition $29.3 billion (2007 est.) |
GDP - real growth rate |
Definition - World rank and map 7% (2007 est.) |
GDP - per capita |
Definition - World rank and map $1,700 (2007 est.) |
GDP - composition by sector |
Definition agriculture: 23.8% industry: 16.7% services: 59.5% (2007 est.) |
Labor force |
Definition 11.85 million (2005 est.) |
Labor force - by occupation |
Definition agriculture: 75% industry and services: 25% (2003 est.) |
Unemployment rate |
Definition - World rank and map 40% (2001 est.) |
Population below poverty line |
Definition 50% (2000 est.) |
Household income or consumption by percentage share |
Definition lowest 10%: 2% highest 10%: 37.2% (2000) |
Distribution of family income - Gini index |
Definition - World rank and map 44.5 (1997) |
Inflation rate (consumer prices) |
Definition - World rank and map 9.8% (2007 est.) |
Investment (gross fixed) |
Definition - World rank and map 20.4% of GDP (2007 est.) |
Budget |
Definition revenues: $5.525 billion expenditures: $6.493 billion (2007 est.) |
Public debt |
Definition - World rank and map 40.5% of GDP (2007 est.) |
Agriculture - products |
Definition tea, coffee, corn, wheat, sugarcane, fruit, vegetables; dairy products, beef, pork, poultry, eggs |
Industries |
Definition 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 |
Definition - World rank and map 6.1% (2007 est.) |
Electricity - production |
Definition - World rank and map 5.502 billion kWh (2005) |
Electricity - consumption |
Definition - World rank and map 4.464 billion kWh (2005) |
Electricity - consumption per capita |
Definition - World rank and map 117.7 kWh (2005) |
Electricity - exports |
Definition 0 kWh (2005) |
Electricity - imports |
Definition 28 million kWh (2005) |
Oil - production |
Definition - World rank and map 0 bbl/day (2005 est.) |
Oil - consumption |
Definition - World rank and map 64,000 bbl/day (2005 est.) |
Oil - consumption per 1,000 people |
Definition - World rank and map 1.7 bbl/day (2005 est.) |
Oil - exports |
Definition - World rank and map 8,563 bbl/day (2004) |
Oil - imports |
Definition - World rank and map 70,540 bbl/day (2004) |
Oil - proved reserves |
Definition - World rank and map 0 bbl (1 January 2006 est.) |
Natural gas - production |
Definition - World rank and map 0 cu m (2005 est.) |
Natural gas - consumption |
Definition - World rank and map 0 cu m (2005 est.) |
Natural gas - consumption per capita |
Definition - World rank and map 0 cu m (2005 est.) |
Natural gas - exports |
Definition - World rank and map 0 cu m (2005 est.) |
Natural gas - imports |
Definition - World rank and map 0 cu m (2005) |
Natural gas - proved reserves |
Definition - World rank and map 0 cu m (1 January 2006 est.) |
Current account balance |
Definition - World rank and map -$1.014 billion (2007 est.) |
Exports |
Definition - World rank and map $4.054 billion f.o.b. (2007 est.) |
Exports - commodities |
Definition tea, horticultural products, coffee, petroleum products, fish, cement |
Exports - partners |
Definition Uganda 16.9%, UK 9.7%, Tanzania 8.2%, Netherlands 8.1%, US 6.4%, Pakistan 5.2% (2006) |
Imports |
Definition - World rank and map $8.54 billion f.o.b. (2007 est.) |
Imports - commodities |
Definition machinery and transportation equipment, petroleum products, motor vehicles, iron and steel, resins and plastics |
Imports - partners |
Definition UAE 11.4%, China 9.9%, India 8.7%, Saudi Arabia 8%, South Africa 6.3%, US 6.2%, Japan 5.9%, UK 4.7% (2006) |
Reserves of foreign exchange and gold |
Definition - World rank and map $3.355 billion (31 December 2007 est.) |
Debt - external |
Definition - World rank and map $6.713 billion (31 December 2007 est.) |
Stock of direct foreign investment - at home |
Definition $1.249 billion (2007 est.) |
Stock of direct foreign investment - abroad |
Definition $47.4 million (2007 est.) |
Market value of publicly traded shares |
Definition $11.38 billion (2006) |
Economic aid - recipient |
Definition $768.3 million (2005) |
Currency (code) |
Definition Kenyan shilling (KES) |
Exchange rates |
Definition Kenyan shillings per US dollar - 68.309 (2007), 72.101 (2006), 75.554 (2005), 79.174 (2004), 75.936 (2003) |
Fiscal year |
Definition 1 July - 30 June |
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