REPORT: SGR Records High Passenger Drop, Huge Revenue From Cargo
The Kenya National Bureau of Statistics (KNBS) has reported a significant decrease in the number of passengers who used the Standard Gauge Railway (SGR) during the first half of 2024.
KNBS’s Leading Economic Indicators report, released on September 18, revealed that SGR lost 121,000 passengers between January and June this year compared to the same period in 2023.
The performance was comparable to the first half of last year when the SGR transported 1,249,805 passengers.
According to the report, the month of January saw the best performance, with 192,376 passengers.
According to the report, the preceding month recorded an extraordinary performance as more citizens embraced the train service due to its reliability, convenience and affordability at the time.
Furthermore, the months of February, April, and May saw the lowest number of passengers, derailing the overall performance.
The Leading Economic Indicators (LEI) Report is out. The monthly report highlights changes in #CPI, #inflationrates, #InterestRates and #exchangerates.
— KNBStats (@KNBStats) September 18, 2024
Get the report here. https://t.co/Fm30rsErke pic.twitter.com/WYOvkfby0R
According to the report, SGR’s revenues increased by Ksh648,743,836 during the reviewed period.
The Standard Gauge Railway’s revenues increased from Ksh1,203,681,719 to 1,852,425,555, a significant improvement attributed to new measures implemented by the Kenya Railways Corporation (KRC).
According to KNBS, the months of January, April, and May had the highest revenue in 2024.
“The report also details changes in selected indicators e.g. international trade. The report is usually published with a one-month time lag,” KNBS stated.
The latest report comes just three months after the KNBS issued the SGR’s quarterly performance report.
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In its report released in June this year, KNBS revealed that SGR recorded a passenger decline of 65,000 people between January and March compared to the previous year.
KNBS also noted that the transportation and storage sector’s real Gross Domestic Product (GDP) is expected to grow at a slower rate of 3.8% in the first quarter of 2024, compared to 6.6% growth in the same period in 2023.
Furthermore, SGR’s cargo revenue increased marginally, from Ksh3.14 billion in the first quarter of 2023 to Ksh3.24 billion in the same quarter of 2024.
REPORT: SGR Records High Passenger Drop, Huge Revenue From Cargo
