With the recent release of the 2019 Economic Survey report by The Kenya National Bureau of Statistics, the economy’s expansion by 6.3 %, compared to 4.9 % in 2017 is revealed. However, a decelerated growth of 3.6 % in 2018 compared to 3.8% in 2017 is also recorded.
The report highlights the country’s economic performance for the year 2018.
According to the survey, Rwanda’s real GDP growth stood at 8.6 percent, the highest growth in the region. This was supported by strong growth in the services and industrial sectors. Low cost of food and non-alcoholic beverages resulted in a decrease in the inflation rate from 4.8 percent in 2017 to 1.4 percent in 2018.
In Uganda, real GDP grew by 6.2 percent in 2018 compared to a growth of 5.0% in 2017. The growth was fueled by increased public infrastructure as well as the vibrancy in services and industry sectors. Importation of capital goods resulted in the widening of the current account deficit to GDP ratio to 6.8 percent in 2018.
The economy of Tanzania is estimated to have expanded by 6.6 % in 2018 compared to a growth of 6.8% in 2017, supported by private investment and services sector. The current account deficit as a percentage of GDP increased to 3.7 percent in 2018 from 3.3 percent in 2017 due to higher volumes of imports in 2018. The increase in the volume of imports was due to importation of transport equipment, building and construction materials for infrastructure projects.
To note is the highest inflation rate of Burundi in 2017 which stood at 16.6%. Burundi’s real GDP growth stood at 0.1% in 2018.
Below is the infographic of East Africa’s GDP growth rates and inflation;