Current Account in Kazakhstan
Kazakhstan - Current AccountIncoming data suggests that the economy lost some steam in the final quarter of 2018, after growth edged down in the third quarter. Economic activity decelerated in November amid slower growth in the industrial sector. In addition, oil prices fell sharply in the fourth quarter, boding poorly for the important energy sector. However, lower oil prices were likely partly offset by rising crude production: In December, Energy Minister Kanat Bozumbayev stated that oil output hit a record in 2018, thanks to increased production at the Kashagan oil field. However, oil production will likely be contained in 2019 due to scheduled maintenance work at several oil fields. In addition, Kazakhstan also committed to limit production in the first half of 2019 in conjunction with OPEC quotas in December.
Kazakhstan - Current Account Data
|Current Account (% of GDP)||0.5||2.8||-2.8||-6.4||-3.0|
5 years of economic forecasts for more than 30 economic indicators.
Kazakhstan Current Account Chart
|Exchange Rate||378.1||0.32 %||Jan 16|
|Stock Market||0.1||0.0 %||Jan 16|
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January 16, 2019
The industrial sector slowed markedly in December, with output rising at an annual pace of 0.1% in the month, following a 2.3% year-on-year expansion in November.
January 3, 2019
Consumer prices rose 0.7% over the previous month in December, after a 0.9% month-on-month increase in November.
December 29, 2018
A detailed breakdown of GDP by expenditure confirmed that the economy lost some steam in the second half of the year, growing 4.1% year-on-year in January–September, following a 4.2% expansion in January–June.
December 17, 2018
The industrial sector continued to lose pace in November, with output growing at a weaker annual pace of 2.3% in the month, following a 4.2% year-on-year expansion in October. Looking at a breakdown of the sub-sectors, the deterioration in November was primarily due to a marked slowdown in the manufacturing sector—which grew at the slowest pace since October 2016—and a swing from expansion to contraction in the water supply, sewerage system and waste management sector.
December 4, 2018
At its 4 December monetary policy meeting, the National Bank of Kazakhstan left the base rate at 9.25%, with an interest rate corridor of plus or minus 1.0 percentage point, after the rate was raised to its current level from 9.00% in its October meeting.