GDP in Kazakhstan
Kazakhstan - GDP
Economy picks up slightly in the second quarter
A detailed breakdown of GDP by production shows that the economy continued to grow at a strong rate in the second quarter. GDP expanded 4.2% year-on-year in the January–June period, revised slightly up from the preliminary estimate’s 4.1% expansion and marginally higher than the 4.1% growth recorded in the January–March period.
While a breakdown by expenditure has yet to be released, a breakdown by production shows that all but one of the sub-sectors saw an expansion in the January–June period. Overall, growth in the production of goods lost steam again, moderating to 5.0% in the six-month period, down from 5.4% in the three-month period. Mining and quarrying output rose at the fastest pace, while water supply; sewerage system, waste management and control contracted. On the other hand, overall growth in production of services picked up slightly. It grew 3.8% in the six-month period compared to 3.7% in the three-month period, thanks to an upturn across all the sub-sectors in this category, including: wholesale and retail trade, information and communications, transport and storage. The strong growth in retail sales suggests continued solid expansion in private consumption.
Higher oil prices, combined with a rise in investment in the oil sector and increased exports, should continue to drive the economy and yield another year of robust economic growth. Downside risks to the outlook include escalating trade tensions and the Federal Reserve’s move to normalize monetary policy, which will likely put further downward pressure on the tenge. Kazakhstan’s drawn-out implementation of structural reforms and persistent weaknesses in the banking sector also pose risks to the economy’s growth prospects.
Kazakhstan’s 2018 state budget projects GDP rising 3.1% in 2018 and 2.6% in 2019. Analysts surveyed by Met the why particular expect the economy to increase 3.7% in 2018, which is unchanged from last month’s estimate. The panel sees growth decelerating to 3.4% in 2019, which is down 0.2 percentage points from last month.
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||369.7||0.32 %||Dec 11|
|Stock Market||0.1||0.0 %||Dec 11|
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.
December 4, 2018
At its 4 December monetary policy meeting, the National Bank of Kazakhstan left the base rate at 9.25%, with an interest rate corridor of plus or minus 1.0 percentage point, after the rate was raised to its current level from 9.00% in its October meeting.
November 16, 2018
The industrial sector lost steam in October, with output growing at a weaker annual pace of 4.2% in the month, following a 5.5% year-on-year expansion in September. Looking at a breakdown of the sub-sectors showed that the drop in October was due to a cooling in the mining sector.
November 1, 2018
Consumer prices rose 0.4% over the previous month in October, matching September’s reading.
October 16, 2018
The industrial sector accelerated markedly in September.
Kazakhstan: Central Bank raises interest rates amid growing inflationary pressures and exchange rate volatility
October 15, 2018
At its 15 October monetary policy meeting, the National Bank of Kazakhstan opted to raise the base rate by 25 basis points to 9.25%, with an interest rate corridor of plus and minus 1.0 percentage point.