Key sectors of Kazakhstan economy grow, Ministry of National Economy says

Key sectors of Kazakhstan economy grow, Ministry of National Economy says
At the Government’s meeting, Kazakh Minister of National Economy Ruslan Dalenov said how the coronavirus pandemic and the state of emergency affected the local economy. Kazakhstan’s GDP decreased by 0,2 percent. Changes can also be seen in the services sector.

If we take this April, the month of the quarantine, then the services sector decreased by 17.5 percent compared to April 2019. Trade and transport services decreased by a third, administrative services – by 22.5 percent and operations with real estate – by 9.9 percent. The decline in these indicators is related to the quarantine restrictive measures,” commented Ruslan Dalenov.

The minister said that the services sector decreased by 4 percent from January to April. Over this period however, the commodity production grew by 5.8 percent, while foreign trade turnover amounted to US$21 billion from January to March. Export increased by 4.2 percent up to US$13.9 billion, while import decreased to US$7.1 billion. Growth rates in key sectors of the economy have been maintained since the beginning of the year.

A 9 percent increase in the positive trade balance was ensured compared to the first three months of the last year. Industrial production increased by 5.9 percent. The growth is noted in 15 regions. Manufacturing industry grew by 7 percent. In particular, high growth rates were maintained in mechanical engineering by 25.4 percent, in pharmaceuticals by 24.2 percent, in production of construction materials by 15.6 percent and in light industry by 13.9 percent,” concluded Ruslan Dalenov.