Kazakh industrial output up 1.9% y/y, oil output grows 5.3% y/y

Kazakh industrial output up 1.9% y/y, oil output grows 5.3% y/y
Kazakh industrial production rose 1.9% in January 2019
By bne IntelliNews February 14, 2019

Kazakh industrial output rose by 1.9% y/y in January, according to figures released by the State Statistics Committee on February 13.

The growth was mostly supported by the ongoing rise in the Central Asian country’s oil output. Kazakhstan’s oil output in the first month of 2019 grew by 5.3% y/y to 8mn tonnes.

Hydrocarbon-export-reliant Kazakhstan is presently seeing its oil output boosted by the giant Kashagan oilfield in the Caspian Sea which relaunched in October 2016 - growing oil prices are also supporting the drive to increase oil production.

A rise in the output recorded by Kazakhstan's other extractive sectors also supported growth. Copper ore mining expanded by 11.6% y/y in January to 8.2mn tonnes. Electricity generation fell by 4.1% to 9.9bn kWh.

Portland cement output registered growth of 1% y/y in the month.

Data

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