Kazakhstan’s GDP rate amounts to six percent in 2013

Photo: Kazakhstan’s GDP rate amounts to six percent in 2013 / Kazakhstan

Astana, Kazakhstan, March 3

By Daniyar Mukhtarov - Trend:

The GDP rate in Kazakhstan amounted to six percent, the country's Minister of Economy and Budget Planning Erbolat Dossayev said on March 3 at the government hour in the Majilis (lower house of parliament) of Kazakhstan.

"Despite the weak global economic growth in 2013, the real GDP growth in 2013 in Kazakhstan amounted to six percent, which corresponds to the target forecast. GDP per capita was $13,000, which is 6.7 percent higher than in 2012," the minister said.

The minister pointed out that the economic growth has been achieved by increasing domestic demand, high investment activity and rapid growth rate in agricultural complex, engineering and construction industry.

"The growth in the sphere of services became the main factor of GDP growth. The growth of service production amounted to over seven percent in 2013," Dossayev said.

The highest growth in 2013 was observed in the spheres of information and communication (14 percent), trade (12.7 percent), transport and warehousing (7.5 percent), according to Dossayev.

The production growth in industry amounted to 2.3 percent, according to the minister. The highest rates were observed in the manufacturing industry with the growth of 14.6 percent which provided some 88 percent of growth of Kazakhstan's whole manufacturing industry.

The growth of agriculture amounted to 110.8 percent against the background of high crop yield in 2013.

"The stable macroeconomic situation contributed to the economic growth. The annual inflation was 4.8 percent in 2013, which is by 1.2 percentage points lower than in 2013 (six percent)," Dossayev said.

Translated by L.Z.

Edited by C.N.

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