NAIROBI, (Xinhua) -- Kenya’s
economy expanded by 4.7 percent in the first quarter of 2017 as compared to 5.3
percent for a similar period last year, the country’s statistical bureau said on
National Bureau of Statistics (KNBS) Director General Zachary Mwangi attributed
the slowdown in growth to a contraction in the activities of the agricultural
sector as well as a deceleration in growth of financial intermediation and
first quarter’s growth was negatively impacted by drought that emanated from
failure of the 2016 short rains as well as a delay in the onset of the 2017 long
rains,” Mwangi said in a statement released in Nairobi.
unfavorable weather was particularly detrimental to production of the main food
crops thereby aggravating performance of the sector.
agriculture sector recorded the first contraction in gross value added since
2009 which was attributable to unfavorable weather conditions during the last
quarter of 2016 and the first quarter of 2017.
that electricity supply was also adversely impacted on by the shortage of rains
resulting to slowed growth during the quarter under review.
statistical body noted that the finance and insurance sector’s growth slowed
primarily due a slow down in commercial lending to the private sector.
number of key sectors recorded improved growths in the first three months of
2017, with accommodation and food services being the highest at 15.8 percent
from 10.4 percent during the first quarter of 2016.
sectors whose growths improved significantly include Wholesale and Retail trade;
Real estate; Transport and Storage; and Information and Communication, according
to the official data.