Kazakhstan Industry

Kazakhstan

Kazakhstan: Industrial production plummets at fastest pace in over six years

September 15, 2015

Industrial production in Kazakhstan took a hard hit in August, following a contraction in July. In August, industrial output plunged 6.4% over the same month last year. The reading came in below the 2.1% contraction observed in July and marked the sharpest drop since March 2009.

The strong contraction resulted from a broad-based deterioration in Kazakhstan’s industrial sector. A notable decrease was observed in mining and quarrying output. In addition, manufacturing production swung from two consecutive months of expansion to a decrease in August. Electricity generation fell in August at the same pace as in July, while water management took another hit.

As a result of the sharp decline, the trend now suggests that a recovery in industrial output is not in the cards in the coming months. The annual average variation in industrial production fell from 0.5% in July to minus 0.1% in August, the weakest level since October 2009.

FocusEconomics Consensus Forecast panelists expect industrial production to contract 0.3% in 2015, which is up 0.5 percentage points from last month’s estimate. In 2016, the panel sees industrial production expanding 1.7%.


Author:, Senior Economist

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Kazakhstan Industry Chart


Kazakhstan Industry August 2015

Note: Year-on-year and annual average variation of industrial production index in %.
Source: Republic of Kazakhstan Agency of Statistics.


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