Current Account in Kenya

Kenya Current Account | Economic News & Forecasts

Kenya - Current Account

The economy likely lost traction again in the final quarter of 2018 after expanding at a robust, albeit softening, pace in the third quarter on strong agricultural and hydro-powered electricity output. Rising inflation, a continued slowdown in remittance inflows and weaker credit growth likely weighed on private consumption in Q3. Entering the fourth quarter, a pick-up in remittances and an acceleration in credit in October likely stimulated greater household spending. Moreover, PMI readings for Q4 indicate private sector activity remained resilient. On the downside, gloomy corporate earnings and job cuts prompted the Kenya Revenue Authority to reduce its revenue target for the current fiscal year by 5.0%. In other news, a hotel and office complex in the capital came under attack from Al-Shabaab militants on 15 January; the latest in a wave of terrorist activity across the continent that threatens to undermine foreign investment and the tourism sector.

Kenya - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-8.1  -9.7  -6.8  -5.1  -6.8  

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Kenya Current Account Chart

Kenya Current Account
Note: Current account balance as % of GDP
Source: Central Bank of Kenya

Kenya Facts

Bond Yield12.510.0 %Jan 30
Exchange Rate110.90.05 %Jan 30
Stock Market0.20.0 %Jan 30

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