Kenya
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| Introduction - Kenya: | | Location - Kenya: | | People - Kenya: | | Government - Kenya: | | Economy - Kenya: | Economy overview | 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 Kenyas Enhanced Structural Adjustment Program due to the governments failure to maintain reforms and curb corruption. A severe drought from 1999 to 2000 compounded Kenyas 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 Kenyas 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 MOIs 24-year-old reign ended, and a new opposition government took on the formidable economic problems facing the nation. In 2003, progress was made in rooting out corruption and encouraging donor support. Since then, however, the KIBAKI government has been rocked by high-level graft scandals. The World Bank suspended aid for most of 2006, and the IMF has delayed loans pending further action by the government on corruption. The scandals have not seemed to affect growth, with GDP growing more than 5% in 2006. | | Gdp purchasing power parity | $41.36 billion (2006 est.) | | Gdp official exchange rate | $17.43 billion (2006 est.) | | Gdp real growth rate | 5.7% (2006 est.) | | Gdp per capita ppp | $1,200 (2006 est.) | | Gdp composition by sector | agriculture: 16.3%
industry: 18.8%
services: 65% (2004 est.) | | Labor force | 1.955 million (2006 est.) | | Labor force by occupation | agriculture: 75%
industry and services: 25% (2003 est.) | | Unemployment rate | 40% (2001 est.) | | Population below poverty line | 50% (2000 est.) | | Household income or consumption by percentage share | lowest 10%: 2%
highest 10%: 37.2% (2000) | | Distribution of family income gini index | 44.5 (1997) | | Inflation rate consumer prices | 10.5% (2006 est.) | | Investment gross fixed | 19.2% of GDP (2006 est.) | | Budget | revenues: $4.448 billion
expenditures: $5.377 billion; including capital expenditures of $NA (2006 est.) | | Public debt | 50.5% of GDP (2006 est.) | | 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 | 6.3% (2006 est.) | | Electricity production | 5.709 billion kWh (2004) | | Electricity consumption | 5.459 billion kWh (2004) | | Electricity exports | 0 kWh (2004) | | Electricity imports | 150 million kWh (2004) | | Oil production | 0 bbl/day (2004 est.) | | Oil consumption | 55,000 bbl/day (2004 est.) | | Oil exports | NA bbl/day | | Oil imports | NA bbl/day | | Oil proved reserves | 0 bbl | | Natural gas production | 0 cu m (2004 est.) | | Natural gas consumption | 0 cu m (2004 est.) | | Current account balance | -$1.119 billion (2006 est.) | | Exports | $3.614 billion f.o.b. (2006 est.) | | Exports commodities | tea, horticultural products, coffee, petroleum products, fish, cement | | Exports partners | Uganda 15.8%, UK 10.3%, US 8.2%, Netherlands 7.8%, Tanzania 7.7%, Pakistan 4.9% (2006) | | Imports | $6.602 billion f.o.b. (2006 est.) | | Imports commodities | machinery and transportation equipment, petroleum products, motor vehicles, iron and steel, resins and plastics | | Imports partners | UAE 11.9%, India 8.9%, China 8.4%, Saudi Arabia 8.4%, US 7.1%, South Africa 6.4%, UK 5.4%, Japan 4.8% (2006) | | Reserves of foreign exchange and gold | $2.35 billion (2006 est.) | | Debt external | $6.675 billion (2006 est.) | | Economic aid recipient | $453 million (1997) | | Currency code | Kenyan shilling (KES) | | Exchange rates | Kenyan shillings per US dollar - 72.101 (2006), 75.554 (2005), 79.174 (2004), 75.936 (2003), 78.749 (2002) | |
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This page was last updated on 16 September, 2007
Source: CIA >>> |
