Investment in Kazakhstan
Kazakhstan - Investment
GDP expands for first time in over a year in H1 amid a favorable base effect
According to a preliminary reading, GDP expanded 2.3% year-on-year in the January–June period, rebounding from the 1.4% contraction recorded in Q1. H1's reading was the best since Q1 2020, albeit largely flattered by a favorable base effect.
Looking at the details, the services sector—accounting for roughly 50% of GDP in H1—led the uptick, growing 1.7% (Q1: -3.2% yoy), amid buoyant trade and improving dynamics in the transportation sector. Meanwhile, the industrial sector grew 1.3%, up from Q1’s 0.1% expansion, mainly due to a less pronounced fall in mining and quarrying output, as manufacturing lost steam. Lastly, the construction sector remained solid, albeit growing at a slower pace of 11.9% (2020: +13.1%).
Moving forward to Q3, GDP should keep benefiting from a favorable base effect, with the short-term economic indicator putting economic growth from January–July at 3.7%. Some headwinds may stem from tighter monetary policy, however.
Commenting on the outlook for Q3, Artem Zaigrin, chief economist at SOVA Capital, said:
“The country has returned to the red zone due to the dramatic spike in cases in July-August. Despite the outbreak of the Delta strain, Kazakhstan’s economic recovery has gained pace […]. The withdrawal of pension savings has supported the pickup in loan growth.”
Analysts surveyed by FocusEconomics see the economy expanding 3.8% in 2021, which is up 0.1 percentage points from last month’s estimate, and 4.3% in 2022.
Kazakhstan - Investment Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Investment (annual variation in %) | 4.2 | 3.0 | 4.5 | 5.4 | 11.9 |
Kazakhstan Investment Chart
Source: Agency of Statistics
Kazakhstan Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 382.9 | 0.32 % | Jan 01 |
| Stock Market | 0.1 | 0.0 % | Jan 07 |
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