Positive trends in economy

Kazakh economy sees growth. The country’s GDP grew 4.1% between January and March. It is a half percentage point increase compared to the same period last year.  Development of manufacturing, agriculture, services sector and investment growth impacted the economy positively. According to the Kazakh Minister of National Economy, Timur Suleimenov, industrial production grew 5.3%. The processing industry is ahead of its development pace. Growth is observed in paper production, chemical industry and pharmaceuticals. Other processing sectors like engineering, metallurgy, furniture, food and beverages are showing slight growth as well.


 - Growth in agriculture was estimated at 3.6%. Growth is observed due to development of livestock products by 3.8%. In the first quarter of 2018, the volume of the construction works increased after a two-month decrease. Growth in construction amounted to 5.9%. In comparison with the consumer activity and demand, the services output has increased 3.6%. Trade has grown 6.2%.

In addition, since the beginning of the year, there has been an increase in investments in fixed assets. This was facilitated by a number of factors.


 - Investments in fixed assets increased 39.5%. Growth is related to modernization and reconstruction of the Shymkent oil refinery as well as future expansion of the project at the Tengiz site. Investment flows in transport have increased 58.5%, whereas investments in construction have grown 57.2%. Investments in the industry have increased 51.6% and investments in trade grew 47.3%.

Production in the mining industry grew more than 5%. There is an increase in production of natural gas, petroleum and iron ore. In addition, there is a dynamic in the foreign trade. According to the data, during the three months, the volume of export deliveries increased more than 27%.