Construction, commerce and transport saw the biggest increase - National Economy Ministry
According to Ruslan Dalenov, Minister of National Economy of Kazakhstan, the GDP growth has equalled 4.3% over the period of January to September of 2019, largely attributable to the growth in sectors as construction, commerce and transport, Strategy2050.kz correspondent reports.
“There has been a 9.7% increase in fixed capital investment. September this year saw the annual inflation at 5.3%, thus within the target corridor. Between January and August this year the population’s real income grew by 6.7%”, he said at the Government meeting today.
The manufacturing sector rose by 3.3% in 9 months of 2019, mostly driven by processing and mining industries.
“The biggest increases have been observed in the light industry, machinery, beverage and pharmacy. There has been the increase in metal ore production due to the increased ore production of non-ferrous metals”, he said.
He went on to say that there is a downward trend in coal and oil production.
According to the Minister, construction works have gained momentum following the growth of 13.5%. Over 8.8 million square meters of hosing have been commissioned.
“As for agriculture, livestock output grew by 3.5%, while crop production fell by 4%. Therefore, agriculture has observed a 0.5% decline”, he said.
There has been a 4.4% increase in the services sector, with trade volumes growing by 7.6% mostly due to wholesale, transport services grew by 5.5% ensured by freight traffic.
In January and August this year, the foreign trade turnover rose by 1.8%, standing at $62.1B, including $37.6B of exports and $24.5B of imports. The trade surplus was $13.0B.
The Minister pointed out the shortcomings in construction and fixed capital investment in Shymkent, Mangistau region and Nur-Sultan.
Adlet Seilkhanov
