Kazakhstan’s GDP Grows Four Percent in Two Months of 2023

ASTANA — Kazakhstan’s gross domestic product (GDP) has grown by 4.3 percent in the first two months of 2023, said Minister of National Economy Alibek Kuantyrov at a March 14 government meeting, reported the Prime Minister’s press service.

Kazakh government’s meeting chaired by Prime Minister Alikhan Smailov. Photo credit: primeminister.kz.

Kazakhstan is seeing positive dynamics in major sectors of the economy, including the real sector (2.7 percent) and the service sector (5 percent). Trade, information, and communication industries also showed substantial growth.

In the construction sector, more than 2.1 million square meters of housing have been commissioned in two months, a 22.2 percent increase from the same period in 2022.

The inflow of investments in fixed assets reached 19.2 percent, with a 72.8 percent surge in transport and storage, 33.1 percent in agriculture, 12.2 percent in the mining sector, 12.1 percent in real estate transactions, and 7.2 percent in the manufacturing industry.

January’s preliminary results show that the country’s foreign trade turnover increased by 15.7 percent, totaling $10.3 billion. Exports grew by 0.4 percent and reached $6.1 billion, with an indicator of processed goods rising by 21.5 percent to $2.1 billion. Imports came at $4.2 billion.

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