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The economy of Kenya is market-based with a few state enterprises. Kenya has an emerging market and is an averagely industrialised nation ahead of its East African peers. Currently a lower middle income nation, Kenya plans to be a newly industrialised nation by 2030. Major industries within the Kenyan market include financial services ...
With a GNI of 1,840, Kenya is a lower-middle-income economy. Kenya's economy is the second largest in eastern and central Africa, after Ethiopia, with Nairobi serving as a major regional commercial hub. Agriculture is the largest sector; tea and coffee are traditional cash crops, while fresh flowers are a fast-growing export.
PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP. On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures.
Kenya is a upper-middle income economy as of 2024 , with kenya's GDP 2024 hitting [[204.6B $]]. This is Due to increasing technology innovation Services. Although Kenya's economy is the largest and most developed in eastern and Central Africa, 16.1% (2023/2024) of its population lives below the international poverty line.
t. e. Kenya Vision 2030 ( Swahili: Ruwaza ya Kenya 2030) is a Kenyan development program, aiming to raise the average standard of living in Kenya to middle income by 2030. It was launched on 10 June 2008 by President Mwai Kibaki. [1] [2] [3] Developed through "an all-inclusive and participatory stakeholder consultative process, involving ...
Agriculture in Kenya. Potatoes harvested from a Kenyan farm. Agriculture in Kenya dominates Kenya's economy. 15–17 percent of Kenya's total land area has sufficient fertility and rainfall to be farmed, and 7–8 percent can be classified as first-class land. [1] [2] In 2006, almost 75 percent of working Kenyans made their living by farming ...
The Economic Stimulus Programme (ESP) was a spending plan initiated by the Government of Kenya to boost economic growth and lead the Kenyan economy out of the 2007–2008 Kenyan crisis and the Great Recession. [1] It was introduced in the 2009/2010 Budget Speech [2] in parliament by Finance Minister Uhuru Kenyatta.
Coffee production is a significant contributor to the economy of Kenya. The industry is noted for its cooperative system of production, processing, milling, marketing, and auction system. About 70% of Kenyan coffee is produced in small farms that control about 75% of the land under production.