The Kenya economy is a regional hub, driven by agriculture, services, and technology. Tea, coffee, and horticulture are major exports, while Nairobis tech scene, dubbed Silicon Savannah, fosters innovation. Tourism, including safaris, is significant, though political instability and drought pose risks. Infrastructure investments and mobile banking growth drive inclusion, but poverty and unemployment persist. Efforts to expand renewable energy and manufacturing aim to sustain Kenyas position as an East African economic leader.
Kenya Economy Size
Kenya’s economy, valued at $110 billion, is East Africa’s largest, with agriculture and tech driving its GDP, bolstered by regional trade. See Kenya GDP.
Kenya Purchasing Power Parity (PPP)
Kenya’s economy has a PPP GDP of $350 billion, over three times its $110 billion nominal GDP, due to low costs for agriculture and tech. PPP per capita is around $6,500, indicating modest purchasing power. Domestic pricing supports local markets, but infrastructure and inequality constrain broader PPP-driven growth.
Kenya Growth Rate
The economic growth rate is 6.0% in 2024, propelled by agriculture and tech exports. Coffee production and mobile money services drive growth, but infrastructure deficits and inequality pose risks. Foreign investment and regional trade drive resilience, while a young workforce enhances momentum, positioning the economy as an East African leader.
Kenya Inflation
Kenya’s inflation rate is around 5% in 2024, driven by rising global food and fuel prices. Agricultural disruptions from drought increase prices, while strong tech and export demand add pressure. Currency depreciation sustains volatility, but monetary tightening and regional trade help moderate inflation, positioning the economy for stability.
