Consumption in Kazakhstan

Kazakhstan Consumption | Economic News & Forecasts

Kazakhstan - Consumption

Economic growth edges up to two-year high in Q3

Economic growth edged up to 4.3% year-on-year in the third quarter, up from Q2’s 4.1% expansion and marking the fastest expansion since Q3 2017, according to a preliminary estimate released by Kazakhstan’s Statistical Institute (SARK) on 18 November.

While a detailed breakdown has to be released, an acceleration in industrial, construction, and services activity underpinned the upturn in growth. Improvements in these sectors compensated for a downturn in the agriculture, forestry and fishing sector, which swung to contraction in the period. Moreover, retail sales growth lost steam in Q3, albeit remained robust, which suggests household spending eased in the quarter. Looking ahead, the economy is seen maintaining a solid stride next year, as planned government reforms, which include income tax breaks, shore up fixed investment and keep private consumption expanding at a healthy clip.

FocusEconomics Consensus Forecast panelists expect the economy to expand 3.8% in 2020, which is up 0.1 percentage points from last month’s projection. For 2021, the panel sees growth inching up to 3.9%.

Kazakhstan - Consumption Data

2013  2014  2015  2016  2017  
Consumption (annual variation in %)10.6  1.1  1.8  1.2  1.2  

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Note: Private Consumption, annual variation in %.
Source: Agency of Statistics

Kazakhstan Facts

Exchange Rate386.00.32 %Nov 21
Stock Market0.10.0 %Nov 20

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