Machinery and transportation equipment, oil, petroleum products, motor vehicles, iron and steel, resins and plastics
Main import partners
China 27%
India 11%
United Arab Emirates 7%
Japan 4%
Saudi Arabia 3%
(2020)[8]
FDI stock
$8.738 billion (31 December 2017 est.)[8]
Abroad: $1.545 billion (31 December 2017 est.)[8]
Current account
−$5.021 billion (2017 est.)[8]
Gross external debt
$27.59 billion (31 December 2017 est.)[8]
Public finances
Government debt
54.2% of GDP (2017 est.)[8]
Budget balance
−6.7% (of GDP) (2017 est.)[8]
Revenues
21.89 billion (2022 est.)
Expenses
26.93 billion (2022 est.)
Credit rating
Standard & Poor's:[15]
B+ (Domestic)
B+ (Foreign)
BB- (T&C Assessment)
Outlook: Stable[16] Fitch:[16]
B+
Outlook: Stable
Foreign reserves
$7.354 billion (31 December 2017 est.)[8]
Main data source:CIA World Fact Book All values, unless otherwise stated, are in US dollars.
The economy of Kenya is market-based with a few state enterprises. Kenya has an emerging market and is an averagely industrialised nation ahead of its East African peers. Currently a lower middle income nation, Kenya plans to be a newly industrialised nation by 2030. Major industries within the Kenyan market include financial services, agriculture, real estate, manufacturing, logistics, tourism, retail and energy. As of 2020, Kenya had the third largest economy in Sub-Saharan Africa, behind Nigeria and South Africa. Regionally, Kenya has had a stronger and more stable economy compared to its neighboring countries within East Africa.[17]By 2023, the country had become Africa's largest start-up hub by both funds invested and number of projects.[18]
The government of Kenya is generally investment-friendly and has enacted several regulatory reforms to simplify foreign and local investment, including the creation of an export processing zone. An increasingly significant portion of Kenya's foreign financial inflows are remittances by non-resident Kenyans who work in the United States, the Middle East, Europe and Asia.[19]
As of September 2018, economic prospects were positive, with above 6% gross domestic product (GDP) growth expected.[20] This growth was attributed largely to expansions in the telecommunications, transport, and construction sectors; a recovery in agriculture; and the rise of small businesses helping to pull the economy. These improvements are supported by a large pool of highly educated professional workers. There is a high level of IT literacy and innovation, especially among young Kenyans.[21][22]
In 2020, Kenya ranked 56th in the World Bank ease of doing business rating, up from 61st in 2019 (of 190 countries).[23] Compared to its neighbours, Kenya has a well-developed social and physical infrastructure.[24]
^"World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
^"World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
^"Population, total - Kenya". knbs.or.ke. Kenya National Bureau of Statistics. 4 November 2019. Retrieved 1 April 2020.
^ ab"World Economic Outlook Database, April 2024". IMF.org. International Monetary Fund. Retrieved 26 April 2024.
^ ab"World Economic Outlook Database, October 2023". IMF.org. International Monetary Fund. Retrieved 13 October 2023.
^ ab"World Economic Outlook Database, April 2020". IMF.org. International Monetary Fund. Retrieved 18 April 2020.
^ ab"World Economic Outlook Database, October 2023". IMF.org. International Monetary Fund. Retrieved 20 October 2023.
^ abcdefghijklmn"The World Factbook". CIA.gov. Central Intelligence Agency. Retrieved 15 June 2019.
^"world poverty clock ". Archived from the original on 19 December 2020. Retrieved 6 January 2020.
^"Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 17 November 2022.
^"Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Archived from the original on 12 December 2020. Retrieved 17 November 2022.
^"Labor force, total - Kenya". data.worldbank.org. World Bank. Retrieved 17 January 2020.
^"Employment to population ratio, 15+, total (%) (national estimate) - Kenya". data.worldbank.org. World Bank. Retrieved 17 January 2020.
^Statista
^"Sovereigns rating list". Standard & Poor's. Retrieved 26 May 2011.
^ abRogers, Simon; Sedghi, Ami (15 April 2011). "How Fitch, Moody's and S&P rate each country's credit rating". The Guardian. Retrieved 31 May 2011.
^"World Bank Open Data". World Bank Open Data. Retrieved 19 April 2024.
^"Kenya Tops Angola as Sub-Saharan Africa's No. 3 Economy". Bloomberg.com. 5 June 2020. Retrieved 6 December 2020.
^"Kenya Company Registration". Healy Consultants. Retrieved 2 September 2013.
^"Kenya Economic Survey 2018". Archived from the original on 30 September 2018. Retrieved 30 September 2018.
^"Kenyan tech startups scoop half of Africa's funding in six months of 2018". Capital Business Kenya. 10 July 2018. Retrieved 14 April 2019.
^"KENYA STARTUP ECOSYSTEM OVERVIEW". VC4A. Retrieved 14 April 2019.
^"Doing Business in Kenya - World Bank Group". doingbusiness.org. Retrieved 18 November 2018.
^"World Bank Open Data". World Bank Open Data. Retrieved 19 April 2024.
The economyofKenya is market-based with a few state enterprises. Kenya has an emerging market and is an averagely industrialised nation ahead of its...
the Kenya National Bureau of Statistics. Counties by GDP per capita in 2017 according to data by the Kenya National Bureau of Statistics. Economyof Kenya...
ofKenya's richest. It is based on an annual assessment of wealth and assets compiled and published by Forbes magazine. Kenya is the largest economy in...
Kenya is a upper-middle income economy as of 2024 , with kenya's GDP 2024 hitting [[204.6B $]]. This is Due to increasing technology innovation Services...
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the currency ofKenya. It is divided into 100 cents. The Central Bank ofKenya Act cap 491, mandated the printing and minting of the Kenyan shilling currency...
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Kenya, officially the Republic ofKenya (Swahili: Jamhuri ya Kenya), is a country in East Africa. With a population of more than 47.6 million in the 2019...
the economyofKenya. The industry is noted for its cooperative system of production, processing, milling, marketing, and auction system. About 70% of Kenyan...
The Central Bank ofKenya (CBK) (Swahili: Banki Kuu ya Kenya) is the monetary authority ofKenya. Its head office is located in Nairobi. CBK was founded...
is Nairobi. The capital, Nairobi, is a regional commercial hub. The economyofKenya is the largest by GDP in East and Central Africa. Agriculture is a...
Kenya Vision 2030 (Swahili: Ruwaza ya Kenya 2030) is a Kenyan development program, aiming to raise the average standard of living in Kenya to middle income...
This is the list of supermarket chains in Kenya. Carrefour Village Supermarket Chandarana Supermarkets Eastmatt Supermarkets Carrefour Supermarket khetias...
Kenya Revenue Authority (KRA), is an agency of the Government ofKenya that is responsible for the assessment, collection and accounting of all revenues...
And 'Tenderpreneurs' Bring Kenya'sEconomy To Its Knees". Forbes. Retrieved 2019-12-02. "Procurement - World Bank Listing of Ineligible Firms & Individuals"...
Queen ofKenya from 1963 to 1964, when Kenya was an independent sovereign state with a constitutional monarchy. She was also the sovereign of the other...
Bank ofKenya, the central bank and national banking regulator, in the largest economy in the East African Community. Standard Chartered Kenya is a large...
of parliament for expenditure on their constituencies, also called electoral districts. CDFs were first adopted in India. After introduction in Kenya...
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Authority of Kenya EconomyofKenya SoftKenya (2011). "Mobile Phone Companies and Service Providers in Kenya". Nairobi: SoftKenya.com. Retrieved 15 December...
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