Kenya's Economy Expands 4.7 Percent in Q3 of 2022
The economy of Kenya advanced by 4.7% year-on-year in the third quarter of 2022, the fifth consecutive quarter of slowing growth and the weakest economic expansion since the first quarter of 2021.
Most sectors posted decelerated growths between July and September owing to the significantly high growth rates recorded in the third quarter of 2021 that signified recovery from the impact of the COVID-19 pandemic, Kenya National Bureau of Statistics (KNBS) said in a report.
"The agriculture sector recorded a contraction of 0.6 percent in the quarter under review compared to a growth of 0.6 percent recorded in the corresponding quarter of 2021," the KNBS report said.
According to the statistics agency, the slowdown in the performance of the agricultural sector was mainly attributed to unfavorable weather conditions that prevailed in the first three quarters of 2022.
The KNBS noted that the manufacturing sector's growth was supported by increases in sugar production, the processing of coffee, and the assembly of motor vehicles.
The statistics agency said that the expansion of the transport sector was supported by increased activities in the railway, road and water transport segments.
"The number of passengers transported via Standard Gauge Railway (SGR) rose by 2.6 percent from 600,070 passengers in the third quarter of 2021 to 615,760 passengers in the period under review," it said.
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