GDP in Kazakhstan
Kazakhstan - GDP
GDP growth accelerates in January–September amid favorable base effect
According to a preliminary reading, GDP expanded 3.5% year-on-year in the January–September period, accelerating from the 2.4% expansion recorded in H1. The reading was flattered by a more favorable base effect.
Looking at the details of the release, the services sector—accounting for over half of nominal GDP—led the uptick, growing 2.9% in the first nine months of the year (H1: +1.9% yoy), amid solid trade and a rebounding transportation sector. Moreover, the industrial sector grew 2.6%, up from H1’s 1.3% expansion, mainly due to a softer fall in mining and quarrying output but also aided by stronger manufacturing and electricity output. Meanwhile, growth in the construction sector remained solid, albeit slowing to 9.7% (H1: +11.9%).
After growing at a sound pace in the first nine months of the year, the services sector should benefit from improved conditions in the fourth quarter, as Covid-19 restrictions were eased in the country’s two largest cities in late October. However, the short-term economic indicator pointed to a slowdown in October, as growth in both the transportation and warehousing, and construction subsectors moderated from January–September’s reading.
Analysts surveyed by FocusEconomics see the economy expanding 4.4% in 2022, which is unchanged from last month’s estimate, and 4.4% in 2023.
Kazakhstan - GDP Data
|Economic Growth (GDP, annual variation in %)||1.2||1.1||4.1||4.1||4.5|
5 years of economic forecasts for more than 30 economic indicators.
Kazakhstan GDP Chart
|Exchange Rate||382.9||0.32 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 07|
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January 1, 2022
Consumer prices increased 0.60% over the previous month in December, slowing down from the 0.75% rise logged in November.
December 13, 2021
Industrial output expanded 6.8% compared to the same month a year earlier in November, which was above October's 4.2% increase.
December 6, 2021
At its meeting in early December, the National Bank of Kazakhstan (NBK) decided to maintain the base rate at 9.75%, after delivering three consecutive hikes between July and October.
December 1, 2021
Consumer prices increased 0.75% over the previous month in November, accelerating from October's 0.70% increase.
November 15, 2021
According to a preliminary reading, GDP expanded 3.5% year-on-year in the January–September period, accelerating from the 2.4% expansion recorded in H1.