Kenya's Economy Grows 5.4% in Q2 2023, Led by Agriculture and Finance

Kenya's economy grew 5.4% in Q2 2023, up from 5.2% in Q2 2022, driven by agriculture.

The agriculture sector expanded 7.7% due to favorable weather boosting output of crops like milk, fruits and vegetables.

Other top performing sectors were finance, hospitality and ICT, growing 13.5%, 12.2% and 6.4% respectively.

Manufacturing growth slowed to 1.5% from 3.6% in Q2 2022, while construction rose a modest 2.6%.

The Nairobi Securities Exchange declined, with shares traded and total value dropping compared to Q2 2022.