Kazakhstan’s GDP demonstrates steady growth

In 2021 the country’s GDP grew by 4%. The real sector of the economy was the main driver of that steady economic growth. According to Prime Minister Alikhan Smailov, industrial output increased 3.8% last year.

The volume of investments to the capital stock of Kazakhstan’s real economy (mining industry is excluded) increased last year by 9.5%. Foreign direct investments rose almost 50% over the nine months of 2021 and reached $18.8 billion.

Over 11 months of the last year, the external turnover in Kazakhstan rose by 15.4% and reached $91.4 billion. The country increased the export of goods by 25% to $54.5 billion; the volume of imported goods increased by 4.2% to $37 billion.

This year Kazakhstan has to reach a GDP growth of not less than 4% to guarantee the steady growth of the national economy, said Smailov.

“We have to bring the volume of investments to the capital stock to 18.5% of the national GDP. Also, we are going to make small and medium-sized businesses a big part of the GDP, at least 31.3% this year. As a result of our measures, the non-resource-based export reached $26 billion. A complex of actions aimed at increasing people’s well-being is going to add 106.3% of growth to actual wages in the country. The current level of unemployment doesn’t exceed 4.9%,” he said.

In 2020 the country’s GDP dropped by 2.6%.

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