Kazakhstan’s GDP Grows 5.6 Percent in January 2023

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Kazakhstan’s gross domestic product (GDP) grew by 5.6 percent in January, said First Vice Minister of National Economy Timur Zhaksylykov at a Feb. 14 government meeting, as reported by the Prime Minister’s press service.

Kazakhstan experienced growth in major economic sectors, such as the real sector (2.3 percent) and the service sector (7.6 percent). Trade grew (19.4 percent) as did information and communication (18.1 percent), whereas growth in construction reached 12.5 percent as over one million square meters of housing were commissioned.

According to Zhaksylykov, the volume of investments in fixed assets for the reporting period grew by 18.3 percent. Investment inflow increased by 9.2 percent in the industrial sector, 33.7 percent in agriculture and real estate each, and 31.8 percent in transport and storage.

Following the preliminary results of 2022, the country’s foreign trade turnover increased by 32.1 percent to US$ 134.4 billion. The exports grew by 39.9 percent to reach US$ 84.4 billion, with the country’s imports reaching US$ 50 billion.