GDP in Kazakhstan
Kazakhstan - GDP
Economy loses momentum in first quarter of the year
Economic growth declined to 3.8% in annual terms in January–March, from the 4.1% year-on-year expansion recorded in January–December 2018, according to a preliminary estimate released on 20 May.
A breakdown of key sectors revealed that industry grew at a notably softer pace of 3.2% in January–March, down from 4.2% in January–December 2018. Faltering manufacturing activity amid a global slowdown, along with a swing to contraction in the supply of electricity, gas, steam and air conditioning, were behind the weakening. Moreover, services also lost steam on reduced growth in wholesale and retail trade; lower sales of cars; and a loss of traction in information and communication, financial and insurance activities; and the real estate sector. Growth of services slipped to 3.7% in the three-month period from 4.0% in the previous 12-month period.
On the upside, construction activity accelerated sharply to 8.9% in January–March, from 4.1% in January–December last year. Meanwhile, favorable weather conditions buoyed agricultural production, which grew 3.6% in the first three months, following a 3.4% upturn in the previous 12-month period.
Growth is set to decline this year, as overhauls at the Kashagan, Karachaganak and Tengiz oil fields curb petroleum production. This, in turn, will weigh on industrial activity and export growth, which will likely be further hit by a challenging global trading environment. That said, the economy should expand at a resilient stride as the fiscal stimulus package buttresses private consumption and investment.
Analysts surveyed by FocusEconomics expect the economy to expand 3.4% in 2019, which is unchanged from last month’s estimate. The panel sees the economy sustaining growth of 3.4% 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||380.0||0.32 %||Jun 20|
|Stock Market||0.1||0.0 %||Jun 20|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
June 20, 2019
Industrial production swung to contraction in May, declining 1.6% over the same day last month.
June 4, 2019
Acting President Kassym-Jomart Tokayev is on course to win the snap election scheduled for 9 June, with the tightly controlled and opaque electoral process meaning that opposition candidates stand little chance.
June 3, 2019
Consumer prices rose 0.6% over the previous month in May, slightly above April’s 0.5% month-on-month upturn.
June 3, 2019
The National Bank of Kazakhstan held the base rate at 9.00%, with an interest rate corridor of plus or minus 1.0 percentage point, at its latest monetary policy meeting on 3 June.
May 20, 2019
Economic growth declined to 3.8% in annual terms in January–March, from the 4.1% year-on-year expansion recorded in January–December 2018, according to a preliminary estimate released on 20 May. A breakdown of key sectors revealed that industry grew at a notably softer pace of 3.2% in January–March, down from 4.2% in January–December 2018.