NUR-SULTAN (TCA) — At the Government meeting on November 12, Minister of National Economy Ruslan Dalenov reported on the results of the country’s socio-economic development in January-October 2019, the press service of the Prime Minister of Kazakhstan reported.
According to the minister, in January-October, Kazakhstan’s GDP growth accelerated to 4.4%. The growth factors of the economy were investment activity, an increase in the share of SMEs in GDP and domestic demand, double-digit growth in industrial sub-sectors, as well as an increase in oil production.
“Investments grew by 8.2%. The growth of real incomes of the population amounted to 6.4%. The share of SMEs in GDP increased to 28.5%. Industrial production maintains a steady growth trend. In January-October, the increase was 3.5%. The manufacturing industry grew by 3.3%,” Dalenov said.
The growth was due to the continued pace in the main processing sectors, such as light industry, engineering, pharmaceuticals and beverage production.
The growth in the mining industry accelerated to 3.7% as a result of an increase in oil production. High growth rates remain in the extraction of non-ferrous metal ores at the level of 18%.
Growth in the construction sector was 12.7%, and 9.8 million square meters of housing were commissioned during the period, said the minister of national economy.
In the agricultural sector, livestock production increased by 3.9%. In the services sector, growth was 4.4%. Trade increased by 7.5%, transport — by 5.6%, and communications — by 4.5%.
In January–September 2019, Kazakhstan’s foreign trade increased by 1.5% to US $70.4 billion. Exports amounted to $42.7 billion and imports amounted to $27.6 billion, the minister said.
