Kenya’s economy grows 5.1pc in Q2 despite higher oil prices

Kenya's economy expanded by 5.1 percent in the second quarter of 2026, marking an improvement from the 4.9 percent growth recorded in the same period last year. This robust growth was driven by a surge in the transport, tourism-related services, electricity, and construction sectors.

Despite the global surge in oil prices, which pushed the average crude cost to $104.45 per barrel from $67.44 a year earlier, Kenya's economy managed to grow. The Agriculture, Forestry, and Fishing sector experienced a 3.5 percent increase, down from 4 percent in Q2 2025, likely due to the early cessation of the long rains.

Transportation and Storage saw a 4.4 percent growth, up from 3.3 percent a year ago. Accommodation and Food Services also saw a notable 7.4 percent expansion, while Electricity and Water Supply expanded by 7.7 percent. Information and Communication surged by 7.2 percent, and Financial and Insurance activities grew by 6.1 percent. Construction was also strong, growing by 6 percent.