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Government • 10 April, 2019

Positive dynamics of economic activity: GDP growth in Kazakhstan in the first quarter reached 3.8%

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First President – Elbasy Nursultan Nazarbayev chaired a meeting of the Security Council on April 10, 2019. The participants reviewed the results of the country's socio-economic development for the first quarter of 2019. First Deputy Prime Minister – Minister of Finance Alikhan Smailov reported on this issue.

In the first quarter of 2019, the positive dynamics of economic activity remained. This is evidenced by the figures below:

  • Gross domestic product increased by 3.8%.
  • Annual inflation rate dropped to 4.8%.
  • Investment in fixed assets increased by 7%.
  • Industrial production increased by 3.2%.
  • Chemical production, production of building materials, mechanical engineering increased by 10%. Automobile production increased by 33%.
  • Construction increased by 8.9%.
  • Volume of transport and warehousing services increased by 4.4%.
  • Growth of agricultural production was 3.6%.
  • Foreign trade turnover for 2 months of 2019 increased by 7.5%, including exports – by 11.1%, imports – by 0.3%.
  • Domestic trade increased by 7.2%.
  • The sum of loans issued by second-tier banks for 2 months of 2019 amounted to 1.9 trillion tenge compared to the same period in 2018, this is 11% more.
  • Unemployment rate in the labor market fell to 4.8%.
  • Per capita income of the population in January-February 2019 increased in real terms by 9.4% compared with January-February 2018.
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