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Kenya Economy 1996

Overview:

Kenya in recent years has had one of the highest natural rates of growth in population, but the statistics have been complicated by the large-scale movement of nomadic groups and of Somalis back and forth across the border. Population growth has been accompanied by deforestation, deterioration in the road system, the water supply, and other parts of the infrastructure. In industry and services, Nairobi's reluctance to embrace IMF-supported reforms had held back investment and growth in 1991-93. Nairobi's push on economic reform in 1994, however, helped support a 3.3% increase in output.

National product:

GDP - purchasing power parity - $33.1 billion (1994 est.)

National product real growth rate:

3.3% (1994 est.)

National product per capita:

$1,170 (1994 est.)

Inflation rate (consumer prices):

30% (1994 est.)

Unemployment rate:

35% urban (1994 est.)

Budget:

revenues:

$2.4 billion

expenditures:

$2.8 billion, including capital expenditures of $740 million (1990 est.)

Exports:

$1.45 billion (f.o.b., 1994 est.)

commodities:

tea 25%, coffee 18%, petroleum products 11% (1990)

partners:

EC 47%, Africa 23%, Asia 11%, US 4%, Middle East 3% (1991)

Imports:

$1.85 billion (f.o.b., 1994 est.)

commodities:

machinery and transportation equipment 29%, petroleum and petroleum products 15%, iron and steel 7%, raw materials, food and consumer goods (1989)

partners:

EC 46%, Asia 23%, Middle East 20%, US 5% (1991)

External debt:

$7 billion (1994 est.)

Industrial production:

growth rate 3.9% (1991 est.); accounts for 14% of GDP

Electricity:

capacity:

810,000 kW

production:

3.3 billion kWh

consumption per capita:

117 kWh (1993)

Industries:

small-scale consumer goods (plastic, furniture, batteries, textiles, soap, cigarettes, flour), processing agricultural products, oil refining, cement, tourism

Agriculture:

most important sector, accounting for 27% of GDP and 65% of exports; cash crops - coffee, tea; food products - corn, wheat, sugarcane, fruit, vegetables, dairy products, beef, pork, poultry, eggs

Illicit drugs:

widespread harvesting of small, wild plots of marijuana and qat; most locally consumed; transit country for Southwest Asian heroin moving to West Africa and onward to Europe and North America; Indian methaqualone also transits on way to South Africa

Economic aid:

recipient:

US commitments, including Ex-Im (FY70-89), $839 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $7.49 billion; OPEC bilateral aid (1979-89), $74 million; Communist countries (1970-89), $83 million

Currency:

1 Kenyan shilling (KSh) = 100 cents

Exchange rates:

Kenyan shillings (KSh) per US$1 - 44.478 (January 1995), 56.051 (1994), 58.001 (1993), 32.217 (1992), 27.508 (1991), 22.915 (1990)

Fiscal year:

1 July - 30 June

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