In advance of President Obama’s trip to East Africa on July 23, the Africa Growth Initiative has prepared short travel companions on the economic environments in both Ethiopia and Kenya. The president’s visit to Kenya, one of the larger economies on the continent and a major driver of growth in the East Africa region, underlies the United States’ commitment to trade and investment on the continent. Below are key facts on Kenya’s economy to consider as President Obama travels to the region. Facts on Ethiopia can be found here.
Kenya enjoys middle-income status. Earlier this month the World Bank confirmed Kenya’slower-middle-income country status according to their latest estimates of the gross national income per capita. This followed from the statistical reassessment of GDP figures that increased the size of its economy by 25 percent ($53.3 billion up from $42.6 billion) last September, making it the continent’s ninth-biggest economy, accounting for over 2 percent of the continent’s GDP. Read more. Source | Brookings