Policy Brief No. 04 of 2014 on Implications of GDP Rebasing on Skills and Professional Development

Abstract

n September 2014, the Kenya National Bureau of Statistics (KNBS) announced that the Kenya economy is 25.3% larger than it had earlier been estimated. The 2013 GDP was estimated at Ksh 4.76 trillion.This means that Kenya's economy is now ranked 9th in Africa, and is among the top ten African economies. The other top performing economies in Africa are Nigeria, South Africa, Egypt, Algeria, Angola, Morocco, Libya and Sudan. The new estimates put Kenya among the (lower) middle income nations, with a GDP per capita of Ksh 111,330. The key sectors that contributed to economic expansion were real estate, Information Communication Technology (ICT), agriculture, and manufacturing.