Current Account in Kazakhstan
Kazakhstan - Current AccountRecent data shows that GDP accelerated further in Q1. Q1’s expansion was driven mainly by the mining and manufacturing sectors. In contrast, the agriculture and services sectors saw smaller expansions, with the latter potentially linked to unrest in January and softer Russian visitor arrivals. Turning to Q2, growth is likely to be sluggish. In April, oil production fell markedly and manufacturing output slowed. Moreover, soaring inflation and consequent interest rate hikes should be dampening consumption. However, the services PMI recovered well above the 50-point mark in April and May, suggesting that businesses are weathering the adverse international environment rather well. Meanwhile, the country voted in early June in favor of a new constitution which aims to give more power to parliament and reduce the influence of former president Nazarbayev.
Kazakhstan - Current Account Data
|Current Account (% of GDP)||-5.0||-5.8||-3.1||-0.1||-3.6|
5 years of economic forecasts for more than 30 economic indicators.
Kazakhstan Current Account Chart
|Exchange Rate||382.9||0.32 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 07|
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January 4, 2023
Inflation increased to 20.3% in December, above November’s 19.6%, the 12th straight month of increase.
December 23, 2022
Inflation rose to 19.6% in November, below October’s 18.8%, the 11th straight month of increase.
December 5, 2022
At its latest meeting on 5 December, the National Bank of Kazakhstan (NBK) raised its base rate by 75 basis points to 16.75%, following its decision to increase its rate by 150 basis points to 16.00% at the end of October.
November 15, 2022
According to a preliminary reading, GDP growth weakened to 2.8% year on year in January–September, down from 3.6% in January–June.
November 1, 2022
Inflation rose to 18.8% in October, above September’s 17.7%.