The construction value added in Kenya stood at $4.66 billion USD in 2023. Observing the trend over the last decade, there has been consistent growth with year-on-year variations showing initial high increases at the beginning of the decade tapering off in recent years. Notably, there was a significant rise between 2013 and 2014 at 20.2%, but the growth rate has slowed gradually to 3.58% by 2023. The CAGR over the last five years is 4.05%.
Future trends indicate a continued but slower growth rate with projected CAGR of 2.38% for the 2024-2028 period. Key trends to watch for include:
- Impact of infrastructural investments.
- Influence of government policies on construction sector.
- Economic conditions involving inflation and foreign investments.
- Potential disruptions due to global economic uncertainties.
