GDP in Kazakhstan
Kazakhstan - GDP
Economy maintains a strong pace of expansion in Q4 2018
The latest national accounts data revealed that the economy sustained a robust pace of expansion in the final quarter of last year, thanks to a buoyant oil sector and solid non-oil activities. GDP expanded 4.1% in 2018, matching the pace of expansion of the January–September period.
While a breakdown by expenditure has yet to be released, a breakdown by production revealed that growth in the year reflected healthy industrial, agricultural and services sectors. Industrial output grew 4.2% in the 12-month period, although moderated from a 4.8% expansion in January–September amid slowing global growth. Construction activity also remained buoyant until the end of the year, but also lost some steam (January–December: +4.1% year-on-year; January–September: +4.4% yoy). On the other hand, agricultural output picked up at the end of the year, likely owing to more favorable weather conditions, expanding 3.4% in January–December (January–September: +2.0% yoy). The services sector also gained some pace, growing 4.0% in the year following growth of 3.8% in the previous nine-month period, mainly reflecting a surge in wholesale and retail trade owing to the holiday season.
Robust oil production and resilient domestic demand dynamics should support a healthy pace of expansion this year. Downside risks stem from lower oil prices, a persistent slowdown in global growth, and an escalation in trade tensions. Moreover, the possibility of early presidential elections and the likely end of President Nazarbayev’s three-decade reign raise uncertainties over the transition of power and implications for the longer-term outlook on economic policymaking.
Analysts surveyed by FocusEconomics expect the economy to increase 3.4% in 2019, which is unchanged from last month’s estimate. The panel sees the economy sustaining a 3.4% expansion in 2020.
Kazakhstan - GDP Data
|Economic Growth (GDP, annual variation in %)||6.0||4.2||1.2||1.1||4.0|
5 years of economic forecasts for more than 30 economic indicators.
Kazakhstan GDP Chart
|Exchange Rate||377.4||0.32 %||Apr 22|
|Stock Market||0.1||0.0 %||Apr 19|
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April 15, 2019
Industrial production grew 4.2% year-on-year in March, up from February’s 3.5% expansion.
April 1, 2019
Consumer prices rose 0.5% over the previous month in March, following a 0.3% month-on-month upturn in February.
Kazakhstan: Nazarbayev relinquishes power after three decades in charge; policy continuity will likely prevail in the near-term
April 1, 2019
On 19 March, President Nursultan Nazarbayev unexpectedly resigned, relinquishing power after three decades of rule since the collapse of the Soviet Union.
March 15, 2019
The industrial sector accelerated in February for the second consecutive month, following a notable slowdown in December.
March 4, 2019
At its 4 March monetary policy meeting, the National Bank of Kazakhstan held the base rate at 9.25%, with an interest rate corridor of plus or minus 1.0 percentage point. The Bank’s decision to hold the rate steady came against the backdrop of declining inflationary pressures.