Kazakhstan GDP Growth Rate chart, historic, and current data. This was announced by the National Economy Minister Ruslan Dalenov during an Aug. 25 government meeting. Kazakhstan's real GDP growth was projected to reach 4.3% in 2014, the main driving force of the economy in Kazakhstan in 2014 is the consumer sector; the consumption in Kazakhstan is mainly boosted by the retail lending. If you use our chart images on your site or blog, we ask that you provide attribution via a link back to this page. If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page. In addition to this, the ministry forecasted positive growth in all the basic industry sectors. If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page. The report includes country-specific three-year forecasts for major macroeconomic indicators, including commodity and financial markets. Sign up via the website or subscribe to our Twitter and Telegram! Kazakhstan’s economy grew at modest rate in 2019. 1995-2020 Data | 2021-2022 Forecast | Calendar. Kazakhstan is the largest economy in Central Asia. The Prime Minister also added that all main sectors of the economy have shown growth and that will have a positive impact on the living standards of the population. The Trading Economics Application Programming Interface (API) provides direct access to our data. Gross domestic product (GDP) growth rate in Kazakhstan 2021 Kazakhstan: Share in global GDP adjusted for PPP 2024 Share of economic sectors in the GDP in Kazakhstan 2019 Download historical data for 20 million indicators using your browser. Descending Rank, The percentage change in GDP per capita for the latest 5 years for which data is published. World Bank national accounts data, and OECD National Accounts data files. The Gross Domestic Product (GDP) in Kazakhstan was worth 180.16 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. Kazakhstan is the largest economy in Central Asia. The Moody’s and Fitch Ratings rating agencies have affirmed Kazakhstan’s credit rating to be firmly within the level of investment reliability. The financial regulator expects the target corridor to maintain 4-6 percent in 2021-2022, 4-5 percent in 2023-2024, and 3-4 percent in 2025. Freedom 5 yrs; Competitiveness; Property Rights Index; Currency +/- Value; Taxes on Residents; Financial Overview: Property in Kazakhstan. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. GDP growth (annual %) - Kazakhstan. Alphabetically | License: CC BY-4.0 Line Bar Map. World Bank national accounts data, and OECD National Accounts data files. The percentage change in GDP per capita for the latest 5 years for which data is published. The ministry relied on a baseline scenario to calculate Kazakhstan’s economic… None; Aggregates; Same region; Similar values; Highest values; Lowest values; Share Details. Average annual growth rates will be 6.2 percent in agriculture and 5.5 percent in trade. The decline in services (-5.4 percent) more than offset the expansion in the goods-producing sector (4.1 percent). This site uses cookies to optimize functionality and give you the best possible experience. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Label. The Kazakh National Bank (NBK) revised the inflation forecast for 2020 from 9-11 percent to 8-8.5 percent, said NBK Chairperson Yerbolat Dossayev. Where … NUR-SULTAN – The Kazakh Ministry of the National Economy has projected a 2.8 percent growth in real gross domestic product (GDP) in 2021, and 4.6 percent in 2025. The economy is susceptible to commodity market volatility, which will weigh on the recovery in 2021. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. (see Data FAQs), Source: IMF World Economic Outlook Database. Kazakhstan gdp per capita for 2016 was $7,715, a 26.6% decline from 2015. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. If you continue to navigate this website beyond this page, cookies will be placed on your browser. The biggest segments within services are: wholesale and retail trade and repairs of motor vehicles and motorcycles (15 percent of total GDP); transport, warehousing, information and communication (10 percent); real estate (9 percent) and professional, scientific, technical, administrative and support services (7 percent). This page provides - Kazakhstan GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Kazakhstan's GDP shrank 1.8 percent year-on-year in the second quarter of 2020, compared to a 2.7 percent expansion in the previous quarter, in line with estimates from the President Kassym-Jomart Tokayev on July 10th 2020. Kazakhstan’s credit rating to be firmly within the level of investment reliability. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. Please check your download folder. Ascending Rank | Aggregates are based on constant 2010 U.S. dollars. Publish your articles and forecasts in our website. Kazakhstan’s economic freedom score is 69.6, making its economy the 39th freest in the 2020 Index. Kazakh Officials Present Country’s Investment Opportunities at Kazakh-French Business Council Meeting, Kazakh President Takes Part in 7th Congress of Atameken National Chamber of Entrepreneurs, ADB’s Operations in Kazakhstan Should Continue Focusing on Sustainable Development and Innovation, Kazakhstan Plans to Launch Electric Car Production by 2021, Kazakh Prime Minister, US Officials and Companies Discuss Further Cooperation at Kazakh-American Business Council, Tokayev and Chevron CEO Discuss Oil, Gas Projects in Kazakhstan. Strong domestic demand supported annual gross domestic product (GDP) growth of about 4.0 percent in 2019, similar to GDP growth in 2018. It is calculated without making deductions for depreciation of fabricated assets or for … The NBK also expects the exchange rate pass-through to impact inflation taking into account the expected balance of payments deficit, as well as the increased fiscal impulse. Economic indicators for Kazakhstan Kazakhstan's GDP expected to contract by 3.2% in 2020 and grow by 2.8% in 2021 – ADO 2020 Update Kazakhstan's inflation rates forecasted at 7.7% in 2020 and 6.2% in 2021 – ADO 2020 Update By Aidana Yergaliyeva in Business on 26 August 2020. Its overall score has increased by 4.2 points due to a large increase in the fiscal health score. Also Show. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Kazakhstan's GDP grew 2.7 percent year-on-year in the first quarter of 2020, after a 4.5 percent expansion in the previous quarter. The statistic shows the growth in real GDP in Kazakhstan from 2009 to 2018, with projections up until 2021. (see Data FAQs) Source: IMF World Economic Outlook Database. It was the first economic contraction since the first quarter of 2016 and the steepest since the second quarter of 2009, amid the global pandemic. To learn more about cookies, click here. In 2021, the NBK expects imports to recover and grow by 8.1 percent due to deferred demand and the accelerated implementation of investment projects after their freeze in 2020. Economic growth and GDP. Although relations with Russia will stay important, Kazakhstan will resist deeper integration and strengthen ties with China and the West. This is due to “weak domestic demand, which will have a disinflationary effect.”. The export of goods will reach $41.4 billion in 2021, and $51.5 billion in 2025. Current Kazakhstan GDP Growth Rate is 1.10%. Kazakhstan gdp per capita for 2019 was $9,731, a 0.83% decline from 2018. Get The Astana Times stories sent directly to you! “According to the Fitch Ratings, Kazakhstan’s rating reflects fiscal stability in the economy, effective measures to support the economy, and a successful implementation of monetary policy,” Dalenov stressed. The ministry projected that national budget revenues (excluding transfers) would reach 6.93 billion tenge ($16.46 million) in 2021, 8.57 billion tenge (US$20.36 million) in 2022, and 9.22 billion tenge (US$21.91 million) in 2023. Economic output should recover somewhat in 2021 as external demand rebounds. Kazakhstan Leaves Monetary Policy Unchanged, Kazakhstan Composite PMI Hits Record High, Kazakhstan September Inflation Rate Steady at 7%, Kazakhstan GDP Contracts in Q2 as Covid-19 Bites, Kazakhstan Current Account Swings to Surplus, Kazakhstan Economy Contracts 6.3% YoY in May, Kazakhstan Manufacturing Sector Returns to Growth, Kazakhstan Industrial Production Growth Accelerates, Moody's Revises Kazakhstan Credit Outlook to Positive, TSX Drops on Friday, Books 4.5% Weekly Loss, Brent Crude Down for 3rd Day to Book Biggest Weekly Loss since April, WTI Crude Tumbles 11% in October on Demand Concerns, Kenya October Inflation Rate at 5-Month High of 4.84%. Please check your download folder. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Kazakhstan's GDP growth expanded to 4.5 percent in 2019, the same as in the previous year, the country's Prime Minister Askar Mamin said on Friday. The services sector is the most important and accounts for 54 percent of total GDP. “The government plans to use the guaranteed transfer to finance social obligations . Industry contributes 34 percent of the wealth; construction 7 percent and agriculture, forestry and fishing 5 percent. This was the weakest GDP growth since the fourth quarter 2016. @ 2004-2020 Global Property Guide. International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. For the guaranteed transfers, the ministry proposed the government to allocate 2.7 billion tenge (US$6.41 million) in 2021, 2.4 billion tenge (US$5.7 million) in 2022, and 2.2 billion tenge (US$5.2 million) in 2023. Annual percentage growth rate of GDP at market prices based on constant local currency. The services sector is the most important and accounts for 54 percent of total GDP.
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