According to the Kenya National Bureau of Statistics, Kenyan economy grew by 6.2% in the second quarter of 2016 compared to a growth 5.9% in the same period in 2015. This marked the highest growth since third quarter of 2013 on the back of strong growth agriculture, rebound in the tourism sector due to improved security situation and growth in the transport sector.
Agricultural sector expanded by 5.5% compared to a growth of 4% posted in a similar period last year. Accommodation and food services (includes tourism) grew by a massive 15.3% compared to a contraction of 5 recorded in Q2 2015. During the quarter, the country exported horticultural crops worth Ksh 26 Billion, representing a 47.1% growth from Ksh 17. Billion reported in Q2 of 2015.
During the quarter, Transport sector expanded by 8.8% from 6.8% reported in Q2 the previous year.
In a statement, KNBS said “The remarkable growth was on account of a considerable boost from conference tourism as well as an improved security situation. The recovery has also been enhanced by rigorous marketing initiatives that have been implemented over time,”
Q2 2016 GDP Growth Rates of East African Economies;
-Tanzania 7.9%
-Kenya 6.2%
-Rwanda 5.4%
-Uganda 4.6%— Kenyanwallstreet (@kenyanwalstreet) October 1, 2016
