GDP in Kazakhstan
Kazakhstan - GDP
Economic growth accelerates in Q1
According to data released by the Statistics Institute on 19 May, the economy grew 3.4% year-on-year in the first quarter, a significant acceleration from Q4 2016’s 1.0% rate of growth. Q1’s result marks the fastest pace of growth for the Kazakh economy since Q4 2014. The reading also came above market expectations of a softer 2.9% expansion.
The acceleration was broad-based but was mainly driven by a return to growth in the mining sector, lifted by an oil and gas sector that benefitted from improving global oil prices. The mining sector had contracted for six consecutive quarters. Mirroring the embellishment in the country’s ailing energy sector, the manufacturing sector roared ahead in Q1, growing at the fastest pace in five years.
In April, the National Bank of Kazakhstan stated that it expects economic growth to pick up to 2.2% this year and 4.7% in the first nine months of 2018. Meanwhile, the Consensus of the group of analysts surveyed by FocusEconomics is in line with the Central Bank’s view and foresees the economy increasing 2.1% this year, which is unchanged from last month’s estimate. The panel sees economic growth picking up modestly next year with a projection of 2.8% for the whole year.
Kazakhstan - GDP Data
|Economic Growth (GDP, annual variation in %)||4.8||6.0||4.2||1.2||1.0|
5 years of economic forecasts for more than 30 economic indicators.
Kazakhstan GDP Chart
|Exchange Rate||340.5||-0.15 %||Sep 21|
|Stock Market||0.1||0.0 %||Sep 21|
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
Start Your Free 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.
September 4, 2017
Consumer prices rose 0.1% from a month earlier in August, matching July’s result.
August 21, 2017
At its 21 August monetary policy meeting, the National Bank of Kazakhstan (NBK) decided to lower the one-day repo rate—also known as the base rate—from 10.50% to 10.25% with a window of plus or minus 1% as inflation continued to decelerate and prices across commodity markets stabilized.
August 16, 2017
Industrial production expanded 7.4% in July over the same period last year, down slightly from June’s 7.5% rise.
August 10, 2017
Consumer prices rose 0.1% from a month earlier in July, coming in below June’s 0.4% print.
July 18, 2017
Industrial production expanded 7.5% in June over the same period last year, down from May’s strong 10.7% rise.