FACTBOX: Key facts on Kenya's economy
(Reuters) - Kenyan police battled protesters in blazing slums on Monday after disputed elections returned President Mwai Kibaki to power and triggered turmoil that a local TV station said had killed at least 124 people.
The violence has threatened to deter investors from east Africa's largest economy, which has been on the road to economic recovery since President Mwai Kibaki's administration came to power in late 2002.
Following are some key facts about the Kenyan economy:
* KENYA'S ECONOMY:
-- Kenya's economy grew 6.1 percent in 2006 compared with a revised growth rate of 5.7 percent the previous year. The government expects it between 6.9 and 7.0 percent in 2007.
-- World Bank figures show Kenya's gross domestic product at $21.2 billion for 2006, with a national per capita income of about $580.
-- The Kenyan shilling was trading at 63.35/45 against the dollar last week compared to a year low of 71.55/65 in January.
-- Kenya's annual inflation rose to 11.8 percent in November from 10.6 percent in October. Underlying inflation, which excludes food prices, stood at 5.8 percent in November from 5.2 percent previously.
* TOURISM AND OTHER SECTORS:
-- The east African country received more than $870 million from the tourism industry in 2006, catapulting it ahead of horticulture and tea as its biggest foreign currency earner with revenue topping $1 billion in 2007.
-- Manufacturing which accounts for about one-tenth of gross domestic product grew 6.9 percent in 2006 and 7.4 percent during the first quarter of 2007, compared with 7.1 percent in the first quarter of 2006.
-- Agriculture -- representing a quarter of GDP -- expanded by 5.4 percent in 2006 and by 12 percent in the first quarter of 2007, compared with 0.3 percent in the same period in 2006, boosted by tea production.
-- Kenya produced a total 108,701 tons of tea in the first quarter of 2007, up from 49,470 tons in the same period in 2006. However, coffee production declined to 16,573 tons in the first quarter of 2007 from 17,606 tons a year before.
CORRUPTION & UNREST:
-- Kenya's business community says the country is losing 2 billion shillings ($31.45 million) worth of taxes daily due to businesses being shut, partly as a result of political unrest.
-- According to a survey of 78 companies by PricewaterhouseCoopers, more than two-thirds of Kenyan companies have suffered from corruption or other economic crimes in the last two years and it found that they had lost an average of nearly $300,000 each.
-- In 2006, the IMF and World Bank delayed handing over millions of dollars in aid to Kenya over graft scandals, but both institutions resumed lending in 2007.
Sources: Reuters; Government of Kenya; World Bank (www.worldbank.org)
(Writing by Nagesh Narayana; Edited by David Cutler and George Obulutsa)
