Kenya Economy 1997

Economy - overview Since 1993, the government of Kenya has implemented a program of economicliberalization and reform. Steps have included the removal of import licensingand price controls, removal of foreign exchange controls, fiscal and monetaryrestraint, and reduction of the public sector through privatization of publiclyowned companies and downsizing the civil service. With the support of theWorld Bank, IMF, and other donors, these reforms have led to a turnaroundin economic performance following a period of negative growth in the early1990s. Kenya's real GDP grew at 5% in 1995 and 4% in 1996, and inflation remainedunder control. Substantial barriers to growth and development remain, includingelectricity shortages, the government's continued and inefficient dominanceof key sectors, endemic corruption, and the country's high population growthrate (which has declined substantially in recent years).

GDP purchasing power parity - $39.2 billion (1996 est.)

GDP - real growth rate 4% (1996 est.)

GDP - per capita purchasing power parity - $1,400 (1996 est.)

GDP - composition by sector
agriculture: 29.7%
industry: 11.1%
services: 59.2% (1995 est.)

Inflation rate - consumer price index 1.6% (1995 est.)

Labor force
total: 8.78 million (1993 est.)
by occupation: agriculture 75%-80%, non-agriculture 20%-25%

Unemployment rate 35% urban (1994 est.)

Budget
revenues: $2.7 billion
expenditures : $2.7 billion, including capital expenditures of $620 million (FY95/96)

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

Industrial production growth rate 3.8% (1995)

Electricity - capacity 810,000 kW (1994)

Electricity - production 3.48 billion kWh (1994)

Electricity - consumption per capita 125 kWh (1995 est.)

Agriculture - products coffee, tea, corn, wheat, sugarcane, fruit, vegetables; dairy products,beef, pork, poultry, eggs

Exports
total value: $1.9 billion (f.o.b., 1995 est.)
commodities: tea 35.7%, coffee 28.7%, petroleum products 8.6%
partners : Uganda 22.8%, UK 20.1%, Tanzania 19.1%, Germany 14.0%, Netherlands 7.6%,US 6.1%

Imports
total value: $2.6 billion (f.o.b., 1995 est.)
commodities: machinery and transportation equipment 53%, petroleum and petroleumproducts 23.7%, iron and steel 12.2%, raw materials, food and consumer goods(1989)
partners : UK 21.3%, UAE 18%, Japan 14%, Germany, US

Debt - external $7 billion (1994 est.)

Economic aid
recipient : multilateral $490 million; bilateral $433 million (1993 est.)

Currency 1 Kenyan shilling (KSh) = 100 cents

Exchange rates Kenyan shillings (KSh) per US$1 - 54.738 (January 1997), 57.115 (1996),51.430 (1995), 56.051 (1994), 58.001 (1993), 32.217 (1992)

Fiscal year 1 July - 30 June

NOTE: The information regarding Kenya on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Kenya Economy 1997 information contained here. All suggestions for corrections of any errors about Kenya Economy 1997 should be addressed to the CIA.