Industrial production hits 10-year low growth in Kazakhstan.

By bne IntelliNews January 14, 2013
Industrial production increased by a mere 0.5% y/y in 2012, according to the preliminary data provided by the State Stat Agency. This is the lowest industrial output growth in the last decade. To remind, the government expected industrial production to expand by 2.7% y/y this year. In 2011, industrial output grew by 3.5% y/y. The main reason for the slow growth might be found in the energy sector. According to the Agency data, oil production shrank by 1.1% y/y to 79.2mn tonnes while rolled steel output declined by 23.6% y/y to 2.4mn tonnes. Sanctions put on Iran are behind the drop in steel production as the main producer in the country ArcelorMittal exported the commodity to Iran. Among sectors, production in the mining sector grew by 0.2% y/y, in the manufacturing increased by 0.7% and in gas and electricity distribution by 3.3%. On the other hand, water distribution went down by 5.9% y/y.

Industrial production hits 10-year low growth in Kazakhstan.

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