Month: October 2020

Foreign Investment Survey 2020 data collection

The Kenya National Bureau of Statistics (KNBS) in collaboration with the Central Bank of Kenya (CBK) and Kenya Investment Authority (KenInvest) are conducting the 2020 Foreign Investment Survey (FIS 2020). The survey which started in September is the sixth in a series of foreign investment surveys conducted since 2010. FIS 2020 will run until November 2020.

The purpose of Foreign Investment Surveys is improve the quality and update national statistics on stocks and flows of foreign capital as well as international trade.

The objectives of Foreign Investment Surveys include;

• To collect comprehensive information on the stocks and flows of inward and outward foreign capital.
• To improve the quality of Foreign Direct Investment (FDI), Balance of Payments and International Investment Position Statistics, and
• To collect data and information on foreign investment relationships for compiling Foreign Affiliates Trade Statistics (FATS) and international trade in services statistics.

The data collected will be used in the compilation of Balance of Payments (BOP) and International Investment Position (IIP) statistics in line with recommendations of international statistics frameworks. The data will also be used for economic and investment policy formulation and decision making.

The survey seeks to obtain transactional and stocks data of enterprise capital, trade, services, employment and perception of business environment. The data being sought is for 2017, 2018 and 2019.

The survey will be administered to statistically selected resident enterprises. The field survey personnel which include Research Assistants and their Supervisors have been deployed to provide guidance to enterprises in completing the FIS 2020 questionnaire. Information provided by individual enterprises will be treated as confidential and used strictly for statistical purposes. The survey personnel are under oath not to disclose any information provided by the enterprises to a third party. Confidentiality is guaranteed under the Statistics Act, 2006.

Kenya National Bureau of Statistics, Central Bank of Kenya and Kenya Investment Authority are jointly conducting Foreign Investment Survey 2020. Other key stakeholders include; Capital Markets Authority (CMA), Export Processing Zones Authority (EPZA), Insurance Regulatory Authority (IRA) and Kenya Association Manufactures (KAM).

These statistics are collected under the Statistics Act, 2006 which empowers KNBS to collect and compile Balance of Payments Statistics and the position of Kenya’s external assets and liabilities, among other information/data. Failure to comply with the Statistics Act, 2006 constitutes an offence and may result into legal and administrative action.

Queries, clarifications or assistance regarding the completion of the questionnaire will be addressed by the Research Assistant or the Supervisor. Further information concerning the FIS 2020 may be addressed to:

Director General

Kenya National Bureau of Statistics

Real Towers, Upper Hill, Hospital Road,

Tel. No.: +254 202 911 000, +254 202 911 001

Email Address: directorgeneral@knbs.or.ke

info@knbs.or.ke

Economic activity was markedly subdued in the second quarter of 2020 compared to the corresponding quarter in 2019. Real GDP contracted by 5.7 per cent in the review period compared to an expansion of 5.3 per cent in the second quarter of 2019. Although Kenya was somehow spared the severe effects of the COVID-19 pandemic in the first quarter of 2020, the economy was significantly affected by the disease in the second quarter of 2020. During this period, the country 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, near cessation of international travel among others. As a result, the performance of most sectors of the economy were to a large extent negatively affected by these measures with output considerably constrained and in some cases came to a complete halt. The poor performance in the quarter was characterized by substantial contractions in Accommodation and Food Services, Education, Taxes on products, and Transportation and Storage, which consequently occasioned the significant downturn.

The overall performance during the review quarter was cushioned from a deeper slump by growths in Agriculture, Forestry and Fishing activities (6.4%); Financial and Insurance activities (4.2%); Construction (3.9%); Health Services (10.3%); Public Administration (5.7%); Real Estate Activities (2.2%) and Mining and Quarrying activities (10.0%).

Quarterly Gross Domestic Product Report – Second Quarter, 2020

The Consumer Price Index (CPI) increased marginally from 108.35 points in July 2020 to 108.57 points in August 2020. The overall rate of inflation remained at 4.36 per cent during the same period. In August 2020, the Kenyan Shilling depreciated against all major trading currencies. The average yield rate for the 91-day Treasury bills, which is a benchmark for the general trend of interest rates dropped from 6.24 per cent in July 2020 to 6.20 per cent in August 2020, while the inter-bank rate rose from 2.12 per cent to 2.77 per cent over the same period.

The Monthly Leading Economic Indicators report highlights changes in Consumer Price Indices (CPI) and inflation, interest and exchange rates. In addition, the report presents changes in selected indicators of international trade, agriculture, energy, manufacturing, building and construction, tourism and transport.

Leading Economic Indicators – August 2020