The Atyrau bridge in Kazakhstan

Kazajstán Actividad económica Q1 2023

Kazajstán: Economic growth speeds up in Q1

According to a preliminary estimate, year-on-year GDP growth ticked up to 4.9% in Q1, from 3.3% cumulatively through December 2022.

The acceleration was mainly driven by an increase in industrial production amid stronger expansions in manufacturing, construction and mining output. In addition, services activity also increased at a stronger pace due to an acceleration in transport and retail output. That said, growth in agricultural production slowed by a third in the quarter.

Q1’s momentum should carry into the rest of 2023. Expectations of softer inflationary pressures will likely boost private consumption. Moreover, the Central Bank has signaled that interest rates should be cut from H2 onwards, likely boosting fixed investment. Both trends should translate into stronger economic activity this year. Nevertheless, forecasts of lower export growth amid dampened global demand and lower growth in public spending should limit the expansion somewhat.

Informe de muestra gratuito

Acceda a información esencial en el menor tiempo posible. FocusEconomics proporciona cientos de informes de previsión consensuados de las autoridades de investigación económica más reputadas del mundo.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Download Fullscreen