The Government has officially launched the Economic Survey report 2013 published by the Kenya National Bureau of Statistics (KNBS). The report was presented by Anne Waiguru, OGW Cabinet Secretary Ministry of Devolution and Planning. According to the report, the agriculture sector recorded a growth of 3.8 percent in 2012 compared to a suppressed growth of 1.5 per cent in 2011.
Performance of different sub – sectors under agriculture varied mainly on account of delayed long rain across the ecological zones. There was increased production of key crops save for horticulture, tea and pyrethrum which recorded declines.
Key Crops Production
|Commodity (‘000 Tonnes)||2011||2012||% change|
|Fresh horticultural produce||216.2||205.7||-4.9|
In the International scene the growth rate of the global economy dropped from 3.9 per cent in 2011 to 3.2 percent in 2012. This was due to rise in oil prices in the international markets, the ongoing economic turmoil in the euro zone, slowed growth in emerging markets and developing economies due to weak demand from advanced economies.
The overall domestic Economy activity in 2012 showed improvement despite a myriad of challenges that include a turbulent global economy, delayed long rains and a weakened Kenya shilling in the beginning of the Year .This performance was supported by:
- Stable macroeconomic environment
- Increased domestic demand
- Modest growth in credit
- Notable growths in Agriculture, Wholesale and Retail Trade, and Transport and Communication.
Real GDP expanded by 4.6 per cent in 2012 compared to a growth of 4.4 per cent in 2011
The Value of total exports grew from Kshs 512.6 Billion to Kshs 517.8 billion while the imports grew by 5.7 per cent from Kshs 1,300. 7 billion in 2011 to 1, 374. 6 Billion in 2012. Consequently, Kenya’s trade balance worsened further by 8.7 per cent in 2012 compared to 46.7 percent in 2011