Kazakhstan Industry August 2016


Kazakhstan: Industrial production plummets in August following two mild expansions

September 15, 2016

Industrial production plunged 7.5% annually in August, which underscored the fragility of the recovery in the Kazakh industrial sector. The dismal result followed two timid expansions of 0.1% in June and July and marked the sharpest contraction on record.

August’s contraction was mainly the result of a massive plunge in mining and quarrying. It decreased 15.9% in August, which was well below the 1.7% drop in July. In addition, electricity and gas production fell 3.7% in August, which contrasted the 3.1% increase observed in the previous month. Water management deteriorated and swung from a 2.6% increase in July to a 4.3% contraction. The silver lining was a further expansion in manufacturing production, which grew 1.2% in August and followed the 1.5% rise in July.

Due to August’s contraction, the worsening in industrial production continued. The annual average variation in industrial production fell from minus 2.6% in July to minus 2.7% in August.

FocusEconomics Consensus Forecast panelists expect industrial production to contract 0.8% in 2016, which is up 0.2 percentage points from last month’s estimate. In 2017, the panel sees industrial production recovering and expanding 1.9%.

Author:, Senior Economist

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Kazakhstan Industry Chart

Kazakhstan Industry August 2016 0

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

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