Industrial production in Kazakhstan grows by 2% in Jan-Aug.

By bne IntelliNews September 11, 2013

Industrial production in Kazakhstan increased by 2% y/y in Jan-Aug, the State Stat Agency has informed. In the same period of previous year, industrial output went up by 0.7% y/y while in whole 2012 it stood at 0.5% y/y, well below the government’s forecast for 2012. The official forecast for this year is set at 3.8%.

The growth will be drive by oil production at the largest Kazakh field – Kashagan. It is planned that by the end of the year, oil output will reach level of 5mn tonnes per year. As production at the field was just launched, the government projection is likely to be realized.

Among sectors, industrial production in the mining sector went up by 2.9% y/y and in manufacturing – by 1.1% in Jan-Aug. Distribution of electricity and gas grew by 0.9% while water distribution shrank by 13.8%. The data also who that oil output increased by 3.1% y/y to 54mn tonnes and gas production went up by 3.3% to 27.8bcm in the reported period.

Related Articles

Kazakh central bank approves €1bn assistance package for four banks

Kazakhstan’s central bank announced on October 18 that it has approved an assistance package worth KZT410bn (€1.04bn) for ATF Bank, Eurasian Bank, Tsesna Bank and Bank ... more

Turkey-based Eurasian development bank ETDB signs memo to boost return to Iran

The Central Bank of Iran (CBI) and the Turkey-based ECO Trade and Development Bank (ETDB) have signed a memorandum on strengthening bilateral ties, the CBI said on October 10. ETDB is a Eurasian ... more

Air Astana claims Kazakh air traffic may halt due to aviation fuel suspension

Air Astana said on September 25 that regular air traffic might come to a halt in Kazakhstan due to falling aviation kerosene supplies from Russia as well as the upcoming ... more