Kenya's economy contracts by 5.7 pct in Q2
Xinhua
16 Oct 2020, 03:18 GMT+10
NAIROBI, Oct. 15 (Xinhua) — Kenya's economy contracted by 5.7 percent in the second quarter of 2020 compared to an expansion of 5.3 percent in a similar period of 2019, the government statistics agency said on Thursday.
Kenya National Bureau of Statistics (KNBS) said that although Kenya was somehow spared the severe effects of the COVID-19 pandemic in the first quarter, the economy was significantly affected by the disease in the second quarter of 2020.
According to the data agency, the east African nation instituted measures aimed at containing the spread of the virus, that included restriction of movement in and out of some counties, closure of learning institutions, closure of some businesses especially those dealing in accommodation and food services as well as near cessation of international travel.
KNBS noted that the performance of most sectors of the economy was to a large extent negatively affected by measures with output considerably constrained and in some cases came to a complete halt.
The government bureau added that between April and June, most macroeconomics indicators were anchored on the need to cushion the economy from the effects of the COVID-19 pandemic.
It said that one of the sectors that cushioned Kenya from greater economic contractions was the agriculture, forestry and fishing activities which recorded a growth of 6.4 percent in the second quarter of 2020 compared to 2.9 percent growth in the corresponding quarter of 2019.
KNBS added that there was a notable increase in tea production, sugar cane deliveries, milk intake and fruit exports but a decline in exports of coffee, cut flowers and vegetables.
According to the data agency, the manufacturing sector reported a contraction of 3.9 percent in the second quarter of 2020 compared to an expansion of 4.0 percent in the same period of 2019.
The bureau noted that the construction sector recorded a slowed growth of 3.9 percent in the second quarter of 2020 compared to 7.2 percent growth in the second quarter of last year.
KNBS observed that the transportation and storage sector is estimated to have contracted by 11.6 percent in the period under review compared to 7.6 percent growth in the corresponding quarter of 2019 due to restriction of movements.
The statistics agency said that freight movement through Standard Gauge Railway (SGR) rose by 3.9 percent between April and June to stand at 1,053,000 tons.
Watch latest videos
Subscribe and Follow
Get a daily dose of Africa Leader news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
News RELEASES
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Africa Leader.
More Information 
13 ℃ Fair in Cape Town
International
Section
French president attends memorial of fallen history teacher
PARIS, France – France paid tribute on Wednesday to a history teacher beheaded last week by a man angered at …
Israelis outraged at treatment of critically ill Palestinian official
JERUSALEM – Chief Palestinian negotiation Saeb Erakat is critically ill in an Israeli hospital.The official was rushed to Hadassah Medical …
Polls point to Biden victory but Trump confident of reelection
WASHINGTON, DC – With two weeks remaining before the U.S. presidential election, Democratic challenger Joe Biden continues to lead in …
Emirati ministers and officials on historic visit to Israel
ABU DHABI, UAE – Government ministers from the UAE boarded an historic flight to Israel on Tuesday morning.They were accompanied …
U.S. sanctions shipping companies in China for doing business in Iran
WSHINGTON, DC, October 20 (ANI): The United States on Monday (local time) imposed sanctions on six Chinese companies for their …
United States Covid-19 death toll rises above 220,000
A woman wearing a face mask walks past a notice board with COVID-19 preventive instructions at a Macy's store in …
Business
Section
U.S. stocks fade, dollar drops sharply Wednesday
NW YORK, New York – There was much volatility on Wall Street on Wednesday as investors dithered with which direction …
3 ways to reduce greenhouse gas emissions from passenger transport
California recently announced that it plans to ban the sales of gas-powered vehicles by 2035, Ontario has invested $500 million …
A time for borrowers to restructure loans and other debt obligations
JAKARTA, Indonesia – The economic impact of coronavirus crisis has been perceived. We have seen hundreds or even thousands of …
India exporting to U.S. and China far more than it is importing
NEW DELHI, India, October 21 (ANI): A significant increase in India's exports to the United States and China, coupled with …
Shanghai stock markets gains 183 points despite regional weakness
SYDNEY, NSW, Australia – Stocks in mainland China rose sharply on Tuesday, a move at odds with the rest of …
Pakistan restores social media platform TikTok, subject to conditions
ISLAMABAD, Pakistan, October 20 (ANI): TikTok services in Pakistan were restored on Monday with certain conditions, 10 days after a …
Movie Review
The Wall
Wall
