Kazakh retail sales up by 4.4% y/y in January

Kazakh retail sales up by 4.4% y/y in January
Kazakh retail sales up by 4.4% y/y in January
By bne IntelliNews February 14, 2019

Kazakh retail sales moved up by 4.4% y/y in January, reaching KZT694.6bn (€1.64bn), according to data published by Kazakhstan's State Statistics Committee on February 13.

The gain reflects the ongoing household consumption recovery driven by refreshed economic growth, which registered at 4.1% in 2018. Growth recovered to 4% in 2017, up from the 1% recorded in 2016.

Kazakhstan's GDP growth has been restored in tandem with a boost in oil production stemming from growing oil prices and an ongoing ramp-up in output at the giant Kashagan oil field. The country's economic diversification with a focus on foreign investments in infrastructure and agriculture have also helped boost growth.

Foodstuffs accounted for 31.3% (KZT217.7bn) of the retail sales in the month, while non-foodstuffs accounted for the remaining 68.7% (KZT476.9bn).

Nearly 42.2% of retail sales was accounted for by one-person businesses.

The largest Kazakh city, commercial capital Almaty, accounted for KZT223.6bn of total retail sales in January. The political capital Astana followed with KZT77.4bn, ahead of Karaganda Region's KZT68.2bn.

Data

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