Tue, 16 Aug 2022

Kenya's economy grows 6.8 pct in Q1

Xinhua
02 Jul 2022, 02:18 GMT+10

NAIROBI, July 1 (Xinhua) -- Kenya's economy grew by 6.8 percent during the first quarter of 2022 compared to the 2.7 percent growth recorded in the corresponding quarter of 2021, the government statistics agency said on Friday.

The Kenya National Bureau of Statistics (KNBS) said the growth was buoyed by rebounds in most economic activities that had contracted significantly in the first quarter of 2021 due to measures instituted to curb the spread of the COVID-19 pandemic.

"The growth was also supported by accelerated growths in manufacturing, wholesale and retail activities and financial and insurance activities coupled with sustained growth in construction, real estate and information and communication activities," KNBS said in a statement issued in Nairobi, the capital of Kenya.

According to the statistics agency, the agriculture, forestry and fishing sectors contracted in the first quarter, mainly due to depressed rainfall thereby leading to reduced agricultural production.

The bureau noted that the poor performance of the agriculture sector led to a decline in horticultural exports and tea production.

KNBS revealed that the transportation and storage sector expanded in the first quarter compared to the corresponding quarter of 2021 due to a number of factors including growth of passengers and freight using the standard gauge railway.

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