AKIPRESS.COM – Kazakhstan’s economy expanded 4.9% in January-November 2023, National Economy Minister Alibek Kuantyrov said, Interfax reported.
“The real sector expanded by 3.5%, while the service sector saw an increase of 5.6%,” Kuantyrov said at a government meeting in Astana.
Construction, trade, information and communications, as well as transport and logistics grew the most.
Capital investment rose 14.6%. Investment in information and communications rose 180%, in transport and logistics it grew 58%, and in trade 34%. Investments in education expanded by 17%, and in agriculture 11%. Industry saw an increase of 8.5%, with investments in manufacturing growing 4.6%.
Regionally, the highest investment growth was in the Mangistau, Turkestan, Pavlodar regions and the Abai region.
“Foreign trade increased 2.6% to $114 billion in January-October. Exports accounted for $65 billion, with manufactured goods contributing $21 billion. Imports stood at $49 billion, resulting in a trade surplus of $5 billion,” the minister said.
Kuantyrov also highlighted that the manufacturing industry maintained positive growth rates with a production volume increase of 3.4%.
Machine building grew 27%, with the automotive industry surging 41% and electrical equipment 32%.
Growth was seen in 13 regions. The biggest increases were in the Kyzylorda and Kostanay regions, in the Abai region, and in the city of Almaty.
Food production grew 1.9%, metal products of 3.7%, construction materials 4.1%, plastic products 5.1%, light industry 12% and furniture 42%.
Mineral extraction output grew 5.2%, with oil production up 7.8% and gas 12%, while production in other minerals surged by 13%.
Mining of metal ores fell 0.5%, services in the mining industry dropped by 2.6% and coal mining declined by 5.8%.
Kazakhstan’s GDP grew 3.1% in 2022.
Read More: Kazakhstan’s GDP grew 4.9% in 11 months – National Economy Minister