ASTANA, Kazakhstan, April 11. The Asian Development Bank has published forecasts for growth in industry in Kazakhstan for 2024 and 2025, Trend reports.
As the forecast reads, growth in industry is forecast to slow to 3.5 percent in 2024, with smaller gains in mining.
Simultaneously, as oil output rises, industrial growth will
speed up to 5.7 percent in 2025. Oil output from the Tengiz field
is predicted to grow in the second half of 2025.
Furthermore, ADB forecasts Kazakhstan's GDP growth to reach 3.8
percent in 2024 and 5.3 percent in 2025.
Meanwhile, industrial production in Kazakhstan was 7.5 trillion
tenge (about 16.6 billion) from January through February 2024.
The mining industry produced 3.56 trillion tenge, or about $7.9
billion (47.5 percent of the total), while the manufacturing
industry produced 3.23 trillion tenge, or about $7.1 billion (43.2
percent).
From January through February 2024, the industrial production index (IPI) in Kazakhstan was 104.6 percent. Among the regions, the greatest growth was recorded in the East Kazakhstan, Aktobe, and Akmola regions.
Furthermore, the volume of industrial production in Kazakhstan amounted to 46.4 trillion tenge (about $102.5 billion) from January through December 2023. Compared to 2022, production increased by 4.3 percent.
Thus, production volume in the mining and quarrying industry amounted to 21.7 trillion tenge (about $47.9 billion), which is 4.6 percent more than in 2022. In addition, production in this area accounted for 46.9 percent of total industrial production.
At the same time, production in the manufacturing industry increased by 4.1 percent compared to 2022 and amounted to 21.6 trillion tenge (about $47.7 billion). The manufacturing industry, in turn, covered 46.6 percent of total industrial production.