www.kenya.eu

Economy cia world factbook

Economy - overview:
Although 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. The IMF, which had resumed loans in 2000 to help Kenya through a drought, again halted lending in 2001 when the government failed to institute several anticorruption measures. 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. Post-election violence in early 2008, coupled with the effects of the global financial crisis on remittance and exports, reduced estimated GDP growth to 2% or lower in 2008 and 2009.

GDP (purchasing power parity):
$63.73 billion (2009 est.)
country comparison to the world: 83
$62.48 billion (2008 est.)
$61.44 billion (2007 est.)
note: data are in 2009 US dollars

GDP (official exchange rate):
$30.57 billion (2009 est.)

GDP - real growth rate:
2% (2009 est.)
country comparison to the world: 80
1.7% (2008 est.)
7.1% (2007 est.)

GDP - per capita (PPP):
$1,600 (2009 est.)
country comparison to the world: 197
$1,600 (2008 est.)
$1,700 (2007 est.)
note: data are in 2009 US dollars

GDP - composition by sector:
agriculture: 19.7%
industry: 17.2%
services: 62.1% (2009 est.)

Labor force:
17.47 million (2009 est.)
country comparison to the world: 34

Labor force - by occupation:
agriculture: 75%
industry and services: 25% (2007 est.)

Unemployment rate:
40% (2008 est.)
country comparison to the world: 188
40% (2001 est.)

Population below poverty line:
50% (2000 est.)

Household income or consumption by percentage share:
lowest 10%: 1.8%
highest 10%: 37.8% (2005)

Distribution of family income - Gini index:
42.5 (2008 est.)
country comparison to the world: 51
44.9 (1997)

Investment (gross fixed):
20.5% of GDP (2009 est.)
country comparison to the world: 88

Budget:
revenues: $6.732 billion
expenditures: $8.332 billion (2009 est.)

Public debt:
66.7% of GDP (2009 est.)
country comparison to the world: 23
61.3% of GDP (2008 est.)

Inflation rate (consumer prices):
9.3% (2009 est.)
country comparison to the world: 189
16.3% (2008 est.)

Central bank discount rate:
NA%

Commercial bank prime lending rate:
14.02% (31 December 2008)
country comparison to the world: 61
13.34% (31 December 2007)

Stock of money:
$6.068 billion (31 December 2008)
country comparison to the world: 64
$5.912 billion (31 December 2007)

Stock of quasi money:
$5.468 billion (31 December 2008)
country comparison to the world: 82
$6.464 billion (31 December 2007)

Stock of domestic credit:
$10.83 billion (31 December 2008)
country comparison to the world: 76
$10.67 billion (31 December 2007)

Market value of publicly traded shares:
$10.97 billion (31 December 2009)
country comparison to the world: 67
$10.92 billion (31 December 2008)
$13.39 billion (31 December 2007)

Agriculture - products:
tea, coffee, corn, wheat, sugarcane, fruit, vegetables; dairy products, beef, pork, poultry, eggs

Industries:
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:
3.7% (2009 est.)
country comparison to the world: 34

Electricity - production:
5.223 billion kWh (2008 est.)
country comparison to the world: 113

Electricity - consumption:
4.863 billion kWh (2008 est.)
country comparison to the world: 107

Electricity - exports:
58.3 million kWh (2007 est.)

Electricity - imports:
22.5 million kWh (2007 est.)

Oil - production:
0 bbl/day (2008 est.)
country comparison to the world: 161

Oil - consumption:
75,000 bbl/day (2008 est.)
country comparison to the world: 87

Oil - exports:
7,270 bbl/day (2007 est.)
country comparison to the world: 99

Oil - imports:
80,530 bbl/day (2007 est.)
country comparison to the world: 73

Oil - proved reserves:
0 bbl (1 January 2009 est.)
country comparison to the world: 166

Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 174

Natural gas - consumption:
0 cu m (2008 est.)
country comparison to the world: 151

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 81

Natural gas - imports:
0 cu m (2008 est.)
country comparison to the world: 159

Natural gas - proved reserves:
0 cu m (1 January 2009 est.)
country comparison to the world: 158

Current account balance:
-$1.577 billion (2009 est.)
country comparison to the world: 143
-$1.978 billion (2008 est.)

Exports:
$4.445 billion (2009 est.)
country comparison to the world: 105
$5.04 billion (2008 est.)

Exports - commodities:
tea, horticultural products, coffee, petroleum products, fish, cement

Exports - partners:
UK 10.2%, Netherlands 9.4%, Uganda 9.1%, Tanzania 8.9%, US 6.4%, Pakistan 5.7% (2008)

Imports:
$9.215 billion (2009 est.)
country comparison to the world: 88
$10.69 billion (2008 est.)

Imports - commodities:
machinery and transportation equipment, petroleum products, motor vehicles, iron and steel, resins and plastics

Imports - partners:
UAE 11.9%, India 11.8%, China 10.3%, Saudi Arabia 8.3%, South Africa 5.9%, Japan 5.3%, US 4% (2008)

Reserves of foreign exchange and gold:
$3.8 billion (31 December 2009 est.)
country comparison to the world: 91
$2.879 billion (31 December 2008 est.)

Debt - external:
$7.729 billion (31 December 2009 est.)
country comparison to the world: 88
$7.855 billion (31 December 2008 est.)

Stock of direct foreign investment - at home:
$2.063 billion (31 December 2009 est.)
country comparison to the world: 85
$1.988 billion (31 December 2008 est.)

Stock of direct foreign investment - abroad:
$42 million (31 December 2009 est.)
country comparison to the world: 81
$12.4 million (31 December 2008 est.)

Exchange rates:
Kenyan shillings (KES) per US dollar - 78.042 (2009), 68.358 (2008), 68.309 (2007), 72.101 (2006), 75.554 (2005)