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Service sector maintains GDP contribution growth, builds edge
Economists argue that a shift from the primary and secondary sectors growing services industry is a pointer of an economically maturing nation and an indicator of faster economic progress of a country.
The contribution of service sectors to the Kenyan economy grew by 0.76 percentage points to 62.72 percent in the quarter to September 2024, retaining a trend of increment even as traditional top contributors like agriculture and construction industries posted a general drop.
Service industries, led by transport, real estate and financial and insurance sectors, contributed a total of Sh1.65 trillion to the Kenyan Gross Domestic Product (GDP) in the quarter to September 2024, an Sh83 billion increment from the Sh1.57trillion recorded a year earlier.
