Country Snapshot

Population (2019, millions)¹ 52.57
Population Projections (2030, millions)¹ 65.45
Economically active population in agriculture (as % of Economically active population)12, 2019 91.5
Capital Nairobi
Surface Area (km²)² 580,370
Weather¹¹ Hottest month, February, 13-28°C; coldest month, July, 11-23°C; driest month, August, 24 mm average rainfall; wettest month, April, 266 mm average rainfall
Languages³ Official: English and Kiswahili – Others: numerous indigenous languages
Main Religions³ Main: Protestant and Catholic – Others: Muslim, Traditionalists, others and none
Time⁴ Eastern Africa Time (EAT) +0300 UTC
Driving Orientation⁵ Left Side
Internet Country Code⁶ .ke
Country Calling Code +254
Plug, Socket and Voltage⁷ Type G – 240V/50Hz
Currency Kenyan Shilling (KES) – 1/100 = Cent
Exchange Rate (As of 28 January 2018, per USD)⁸ 100.74 (buy rate)
GDP at Market Prices (2018, current, billions of USD)⁹ 87.9
GDP Growth (2018, annual %)⁹ 6.32
Average GDP Growth (2014-2018, annual %)⁹ 5.62
GDP per Capita, PPP (2018, current international $)⁹ 3,461
Inflation, Consumer Prices (2018, annual %)⁹ 4.68
Average Inflation, Consumer Prices (2014-2018, annual %)⁹ 6.49
Total Reserves in Months of Imports (2017)⁹ 4.34

Sources:
¹United Nations Population Division, Department of Economic and Social Affairs.
²COMESA Statistics, COMESTAT Data Hub.
³CIA World Factbook.
⁴Time and Date Portal.
⁵Chartsbin Portal, “Worldwide Driving Orientation by Country”.
⁶Wikipedia, “List of Internet top-level domains”; and, Internet Assigned Numbers Authority, Root Zone Database.
⁷International Electrotechnical Commission, World Plugs.
⁸Central Bank of Kenya.
⁹World Bank, World Development Indicators 2019.
¹¹Economist Intelligence Unit.
¹²AFDB Socio Economic Database.

Reasons to Invest in Kenya

Source: Kenya Investment Authority – KenInvest.

Population

Population Projections (millions)

Population (2019) 52.57
Population Projections (2030) 66.45

Source: United Nations Population Division, Department of Economic and Social Affairs.

Population Residing in Urban Areas (%)

Population Projections (2019) 27.5
Percentage of Population Residing in Urban Areas (2030) 33.4

Source: United Nations Population Division, Department of Economic and Social Affairs.

Youth Literacy Rates (2017, %)

Youth Literacy Rate, Population 15-24 Years, Both Sexes 87.83
Youth Literacy Rate, Population 15-24 Years, Female 88.08
Youth Literacy Rate, Population 15-24 Years, Male 87.59

Source: United Nations Educational, Scientific and Cultural Organization, UNESCO Institute of Statistics.

Labour

Unemployment (2018, % of Total Labour Force, Modeled ILO Estimate)

Unemployment, Total 9.31
Unemployment, Female 9.22
Unemployment, Male 9.39

Source: World Bank, World Development Indicators 2019.

Labour Force (2017, % of Ages 15+, Modeled ILO Estimate)

Labour Force Participation Rate, Total 66.30
Labour Force Participation Rate, Female 63.58
Labour Force Participation Rate, Male 69.1
Labour Force, Total (number) 20,518,673

Source: World Bank, World Development Indicators 2019.

Economy Overview

GDP

2014 2015 2016 2017 2018
GDP at Market Prices (current, billions of USD)    61.44    64.01 69.18 78.75 87.9
GDP Growth (annual %) 5.35 5.71 5.87 4.86 6.32

Source: World Bank, World Development Indicators 2019.

Value Added by Sector (% of GDP)

Indicator 2018 2019
Agriculture 39.45 40.34
Manufacturing 12.31 11.94
Industry 22.71 22.48
Services 56.84 56.18
Construction 6.48 6.59
Electricity, gas and water 2.85 2.89
Mining and quarrying 1.07 1.06
Education 6.18 6.00
Finance, real estate and business services 21.43 21.28
Public administration and Defense 5.59 5.54
Health and Social Work 2.15 2.16
Other services 1.61 1.58
Transport, storage and communication 12.22 12.17
Wholesale and retail trade, hotels and restaurants 11.19 10.98

Source: AFDB Socio Economic Database.

Trade Profile

Import Partners (Imported Value, thousands, USD)

  2014 2015 2016 2017 2018
World 18,237,053 14,555,436 14,107,376 16,680,503 17,374,783
China 2,780,189 2,988,849 3,325,065 3,776,808 3,661,733
India 2,962,554 2,371,959 2,024,747 1,648,243 1,828,448
Saudi Arabia 631,551 504,064 682,385 1,108,244 1,705,151
United Arab Emirates 1,160,071 783,867 901,889 1,337,658 1,456,152
Japan 973,144 798,663 811,829 789,909 984,823

Source: International Trade Center COMTRADE Statistics.

Export Partners (Exported Value, thousands, USD)

  2014 2015 2016 2017 2018
World 6,023,982 5,396,276 5,695,081 5,745,668 6,050,407
Pakistan 244,301 333,334 395,360 618,040 582,521
Uganda 541,976 561,135 498,730 483,332 503,419
United States of America 127,094 117,727 424,698 453,908 465,203
Netherlands 412,506 320,926 392,336 399,220 447,264
United Kingdom 374,835 347,583 368,178 370,061 394,336

Source: International Trade Center COMTRADE Statistics.

Kenya’s Top Import Products (USD ’000)

Chapter Description 2014 2015 2016 2017 2018
All products  18,237,053 14,555,436 14,107,376 16,680,503 17,374,783
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 4,000,306 2,238,934 2,111,727 2,740,761 3,391,797
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 1,678,328 1,425,214 1,428,812 1,827,535 1,664,366
87 Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof 1,498,466 1,514,396 1,138,203 1,114,074 1,227,903
85 Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles 1,553,756 1,239,386 1,629,903 1,121,436 1,206,182
72 Iron and steel 727,248 643,291 604,359  734,553 860,555

Source: COMSTAT database

Kenya’s Top Export Products (USD ’000)

Chapter Description 2014 2015 2016 2017 2018
All products 6,023,982 5,396,276 5,695,081 5,745,668 6,050,407
09 Coffee, tea, mate and spices 1,298,958 1,353,432 1,452,842 1,667,074 1,617,160
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 612,315 483,387 555,572 595,482 625,599
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 609,415 563,028 424,914 353,658 386,777
07 Edible vegetables and certain roots and tubers 242,432 222,982 264,573 209,108 250,134
08 Edible fruit and nuts; peel of citrus fruits or melons 100,829 114,193 149,837 180,698 232,965

Source: COMSTAT database

Investment Profile

FDI Inflows (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Inflows 821 620 681 1,275 1,626

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Outflows (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Outflows 75.1 242.0 157.4 256.6 164.4

Source: United Nations Conference on Trade and Development, World Investment Report 2019.

FDI Inward Stock (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Inward Stock 10,219 10,839 11,520 12,796 14,421

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Outward Stock (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Outward Stock 1,092 1,334 1,492 1,748 1,913

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Inflows Main Source Countries (in terms of number of projects)

United States, UK, India, South Africa, China, Japan, Germany, UAE, France, and South Korea.

Source: Financial Times, fDi Markets, 2018

FDI Inflows Main Sectors (in terms of number of projects)

Financial Services, Communications, Business Services, Software & IT services, Food & Tobacco, Transportation, Automotive OEM, Industrial Machinery, Equipment & Tools, Consumer Electronics, and Renewable energy.

Source: Financial Times, fDi Markets, 2018

FDI Inflows Main Companies (in terms of number of projects)

Airtel Kenya, Faulu Microfinance Bank, Ecobank Kenya, Cummins Cogeneration Kenya, Samsung Electronics East Africa (SEEA), Taaleritehdas, Orange Kenya, LG Electronics, and Standard Chartered Bank

Source: Financial Times, fDi Markets, 2018

Doing Business

Overall Doing Business Ranking

2020 56/190
2019 61/190

Source: World Bank, Doing Business, 2020

Starting a Business

2020 Rank 129/190
Procedures (number) 7
Time (days) 23
Cost (% of income per capita*) 22.4
Paid-in Minimum Capital (% of income per capita*) 0.0

*GNI per capita used: USD 1,620
Source: World Bank, Doing Business, 2020

Paying Taxes

Paying Taxes

2020 Rank 94/190
Payments (number per year) 24
Time (hours per year) 180
Total Tax Rate (% of profit) 37.2
Profit Tax (% of profit) 30.1
Labor Tax and Contributions (% of profit) 1.9
Other Taxes (% of profit) 5.2

Source: World Bank, Doing Business, 2020

Trading Across Borders

2020 Rank 117/190
Time to Export: Border Compliance (hours) 16
Cost to Export: Border Compliance (USD) 143
Time to Export: Documentary Compliance (hours) 19
Cost to Export: Documentary Compliance (USD) 191
Time to Import: Border Compliance (hours) 194
Cost to Import: Border Compliance (USD) 833
Time to Import: Documentary Compliance (hours) 60
Cost to Import: Documentary Compliance (USD) 115

Assumptions

Source: World Bank, Doing Business, 2020

Investment Regime

Legal Framework

Investment Code – Law N. 6 of the 31st of December 2004
Key guarantees in terms of investment protection include:

Source: United Nations Conference on Trade and Development, iGuide Kenya.

Investment Incentives

Source: Deloitte, Guide to Fiscal Information, Key Economies in Africa 2018

Country Snapshot

Population (2019, millions)¹ 52.57
Population Projections (2030, millions)¹ 65.45
Economically active population in agriculture (as % of Economically active population)12, 2019 91.5
Capital Nairobi
Surface Area (km²)² 580,370
Weather¹¹ Hottest month, February, 13-28°C; coldest month, July, 11-23°C; driest month, August, 24 mm average rainfall; wettest month, April, 266 mm average rainfall
Languages³ Official: English and Kiswahili – Others: numerous indigenous languages
Main Religions³ Main: Protestant and Catholic – Others: Muslim, Traditionalists, others and none
Time⁴ Eastern Africa Time (EAT) +0300 UTC
Driving Orientation⁵ Left Side
Internet Country Code⁶ .ke
Country Calling Code +254
Plug, Socket and Voltage⁷ Type G – 240V/50Hz
Currency Kenyan Shilling (KES) – 1/100 = Cent
Exchange Rate (As of 28 January 2018, per USD)⁸ 100.74 (buy rate)
GDP at Market Prices (2018, current, billions of USD)⁹ 87.9
GDP Growth (2018, annual %)⁹ 6.32
Average GDP Growth (2014-2018, annual %)⁹ 5.62
GDP per Capita, PPP (2018, current international $)⁹ 3,461
Inflation, Consumer Prices (2018, annual %)⁹ 4.68
Average Inflation, Consumer Prices (2014-2018, annual %)⁹ 6.49
Total Reserves in Months of Imports (2017)⁹ 4.34

Sources:
¹United Nations Population Division, Department of Economic and Social Affairs.
²COMESA Statistics, COMESTAT Data Hub.
³CIA World Factbook.
⁴Time and Date Portal.
⁵Chartsbin Portal, “Worldwide Driving Orientation by Country”.
⁶Wikipedia, “List of Internet top-level domains”; and, Internet Assigned Numbers Authority, Root Zone Database.
⁷International Electrotechnical Commission, World Plugs.
⁸Central Bank of Kenya.
⁹World Bank, World Development Indicators 2019.
¹¹Economist Intelligence Unit.
¹²AFDB Socio Economic Database.

Reasons to Invest in Kenya

Source: Kenya Investment Authority – KenInvest.

Population

Population Projections (millions)

Population (2019) 52.57
Population Projections (2030) 66.45

Source: United Nations Population Division, Department of Economic and Social Affairs.

Population Residing in Urban Areas (%)

Population Projections (2019) 27.5
Percentage of Population Residing in Urban Areas (2030) 33.4

Source: United Nations Population Division, Department of Economic and Social Affairs.

Youth Literacy Rates (2017, %)

Youth Literacy Rate, Population 15-24 Years, Both Sexes 87.83
Youth Literacy Rate, Population 15-24 Years, Female 88.08
Youth Literacy Rate, Population 15-24 Years, Male 87.59

Source: United Nations Educational, Scientific and Cultural Organization, UNESCO Institute of Statistics.

Labour

Unemployment (2018, % of Total Labour Force, Modeled ILO Estimate)

Unemployment, Total 9.31
Unemployment, Female 9.22
Unemployment, Male 9.39

Source: World Bank, World Development Indicators 2019.

Labour Force (2017, % of Ages 15+, Modeled ILO Estimate)

Labour Force Participation Rate, Total 66.30
Labour Force Participation Rate, Female 63.58
Labour Force Participation Rate, Male 69.1
Labour Force, Total (number) 20,518,673

Source: World Bank, World Development Indicators 2019.

Economy Overview

GDP

2014 2015 2016 2017 2018
GDP at Market Prices (current, billions of USD)    61.44    64.01 69.18 78.75 87.9
GDP Growth (annual %) 5.35 5.71 5.87 4.86 6.32

Source: World Bank, World Development Indicators 2019.

Value Added by Sector (% of GDP)

Indicator 2018 2019
Agriculture 39.45 40.34
Manufacturing 12.31 11.94
Industry 22.71 22.48
Services 56.84 56.18
Construction 6.48 6.59
Electricity, gas and water 2.85 2.89
Mining and quarrying 1.07 1.06
Education 6.18 6.00
Finance, real estate and business services 21.43 21.28
Public administration and Defense 5.59 5.54
Health and Social Work 2.15 2.16
Other services 1.61 1.58
Transport, storage and communication 12.22 12.17
Wholesale and retail trade, hotels and restaurants 11.19 10.98

Source: AFDB Socio Economic Database.

Trade Profile

Import Partners (Imported Value, thousands, USD)

  2014 2015 2016 2017 2018
World 18,237,053 14,555,436 14,107,376 16,680,503 17,374,783
China 2,780,189 2,988,849 3,325,065 3,776,808 3,661,733
India 2,962,554 2,371,959 2,024,747 1,648,243 1,828,448
Saudi Arabia 631,551 504,064 682,385 1,108,244 1,705,151
United Arab Emirates 1,160,071 783,867 901,889 1,337,658 1,456,152
Japan 973,144 798,663 811,829 789,909 984,823

Source: International Trade Center COMTRADE Statistics.

Export Partners (Exported Value, thousands, USD)

  2014 2015 2016 2017 2018
World 6,023,982 5,396,276 5,695,081 5,745,668 6,050,407
Pakistan 244,301 333,334 395,360 618,040 582,521
Uganda 541,976 561,135 498,730 483,332 503,419
United States of America 127,094 117,727 424,698 453,908 465,203
Netherlands 412,506 320,926 392,336 399,220 447,264
United Kingdom 374,835 347,583 368,178 370,061 394,336

Source: International Trade Center COMTRADE Statistics.

Kenya’s Top Import Products (USD ’000)

Chapter Description 2014 2015 2016 2017 2018
All products  18,237,053 14,555,436 14,107,376 16,680,503 17,374,783
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 4,000,306 2,238,934 2,111,727 2,740,761 3,391,797
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 1,678,328 1,425,214 1,428,812 1,827,535 1,664,366
87 Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof 1,498,466 1,514,396 1,138,203 1,114,074 1,227,903
85 Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles 1,553,756 1,239,386 1,629,903 1,121,436 1,206,182
72 Iron and steel 727,248 643,291 604,359  734,553 860,555

Source: COMSTAT database

Kenya’s Top Export Products (USD ’000)

Chapter Description 2014 2015 2016 2017 2018
All products 6,023,982 5,396,276 5,695,081 5,745,668 6,050,407
09 Coffee, tea, mate and spices 1,298,958 1,353,432 1,452,842 1,667,074 1,617,160
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 612,315 483,387 555,572 595,482 625,599
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 609,415 563,028 424,914 353,658 386,777
07 Edible vegetables and certain roots and tubers 242,432 222,982 264,573 209,108 250,134
08 Edible fruit and nuts; peel of citrus fruits or melons 100,829 114,193 149,837 180,698 232,965

Source: COMSTAT database

Investment Profile

FDI Inflows (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Inflows 821 620 681 1,275 1,626

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Outflows (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Outflows 75.1 242.0 157.4 256.6 164.4

Source: United Nations Conference on Trade and Development, World Investment Report 2019.

FDI Inward Stock (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Inward Stock 10,219 10,839 11,520 12,796 14,421

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Outward Stock (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Outward Stock 1,092 1,334 1,492 1,748 1,913

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Inflows Main Source Countries (in terms of number of projects)

United States, UK, India, South Africa, China, Japan, Germany, UAE, France, and South Korea.

Source: Financial Times, fDi Markets, 2018

FDI Inflows Main Sectors (in terms of number of projects)

Financial Services, Communications, Business Services, Software & IT services, Food & Tobacco, Transportation, Automotive OEM, Industrial Machinery, Equipment & Tools, Consumer Electronics, and Renewable energy.

Source: Financial Times, fDi Markets, 2018

FDI Inflows Main Companies (in terms of number of projects)

Airtel Kenya, Faulu Microfinance Bank, Ecobank Kenya, Cummins Cogeneration Kenya, Samsung Electronics East Africa (SEEA), Taaleritehdas, Orange Kenya, LG Electronics, and Standard Chartered Bank

Source: Financial Times, fDi Markets, 2018

Doing Business

Overall Doing Business Ranking

2020 56/190
2019 61/190

Source: World Bank, Doing Business, 2020

Starting a Business

2020 Rank 129/190
Procedures (number) 7
Time (days) 23
Cost (% of income per capita*) 22.4
Paid-in Minimum Capital (% of income per capita*) 0.0

*GNI per capita used: USD 1,620
Source: World Bank, Doing Business, 2020

Paying Taxes

Paying Taxes

2020 Rank 94/190
Payments (number per year) 24
Time (hours per year) 180
Total Tax Rate (% of profit) 37.2
Profit Tax (% of profit) 30.1
Labor Tax and Contributions (% of profit) 1.9
Other Taxes (% of profit) 5.2

Source: World Bank, Doing Business, 2020

Trading Across Borders

2020 Rank 117/190
Time to Export: Border Compliance (hours) 16
Cost to Export: Border Compliance (USD) 143
Time to Export: Documentary Compliance (hours) 19
Cost to Export: Documentary Compliance (USD) 191
Time to Import: Border Compliance (hours) 194
Cost to Import: Border Compliance (USD) 833
Time to Import: Documentary Compliance (hours) 60
Cost to Import: Documentary Compliance (USD) 115

Assumptions

Source: World Bank, Doing Business, 2020

Investment Regime

Legal Framework

Investment Code – Law N. 6 of the 31st of December 2004
Key guarantees in terms of investment protection include:

Source: United Nations Conference on Trade and Development, iGuide Kenya.

Investment Incentives

Source: Deloitte, Guide to Fiscal Information, Key Economies in Africa 2018