Home Business News Kenya’s economy grows by 5.6%

Kenya’s economy grows by 5.6%

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Kenya’s economy expanded by 5.6% in 2023, up from a revised 4.9% the previous year, according to the head of the statistics office on Monday. This growth was driven by strong performance in the agriculture sector.

Agriculture, which accounts for over a fifth of Kenya’s annual economic output, benefited from plentiful rains following years of drought, allowing the sector to rebound after two years of decline.

“Last year, growth surged to 7%,” said Macdonald Obudho, the director general of the statistics office, at an event presenting the economic growth report.

Tourism, another vital sector, also grew, with visitor numbers exceeding the pre-pandemic annual figure of 2.035 million, reaching 2.087 million last year, Obudho added.