Kenya GDP per capita

KNBS chairman Terry Ryan (left) with Planning secretary Anne Waiguru during the launch of the 2014 Economic Survey. Kenya's GDP for 2013 has been revised to $55.2 billion. PHOTO | FILE

Kenya’s annual output of goods and services is about 25 per cent greater than previously thought, revised data from the national statistics bureau shows.

Figures released Tuesday changing the base calculation year to 2009 from 2001 show a larger increase than had been anticipated, pushing the country into the lower ranks of the World Bank’s so-called middle income nations.

The Kenya National Bureau of Statistics findings are the result of more accurate data on key sectors such as property and telecoms.

Economic growth for the year has also been put at 5.7 per cent, up from 4.7 per cent.

“We do not expect (the middle income status) to change very much in the near term, ” says Ms Razia Khan, Standard Chartered’s regional research head for Africa. “This data only confirms the view investors have long held.”

World Bank comparative GDP statistics for 2013 show that, by going up from $41 billion to $55bn, Kenya has overtaken Ghana ($48bn), Tunisia ($47bn) and Ethiopia ($46bn).

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