Kazakhstan’s economic performance in 2021

30.12.2021, 18:21

High investment activity, strengthening of the trade balance, acceleration in service sector, as well as sustainable growth in the real sector. These factors became the basis of the growing indicators of the domestic economy this year. According to analysts, first of all, such fields as information and communications, trade, water and power supply, construction and manufacturing industry showed positive dynamics of development. At the same time, attraction of internal and external capital investments, as before, remains an integral factor of economic growth. Experts noted that China was one of the top investing countries this year.

“To date, China is one of the key trade and economic partners of Kazakhstan and enters the top five of the largest countries investing in the economy of our country. In 2020, the mutual trade turnover between our countries has increased by 4 percent, exceeding US$15 billion despite the pandemic,” said Yerlan Zeineshev, Deputy Chairperson, Investment Committee, Kazakh Foreign Ministry.

This year, investments in construction grew by more than two times, in manufacturing industry – by 50.5 percent, in agriculture – by 40.5 percent, and in trade by almost 35 percent.

“Our trade balance has now strengthened and, in general, increased by 14.1 percent, amounting to US$82.2 billion. There is a high growth in exports. Exports grew by 23.5 percent and totaled US$49.1 billion. It is especially worth noting that it is the export of processed goods that is growing in our country. That is, it increased by 24.4 percent and amounted to US$15.5 billion,” said Kalybek Magzum, Head of Macroeconomic Analysis and Forecasting Department, Ministry of National Economy.

Analysts noted that manufacturing industry demonstrated a steady growth trend in 2021. The production volume has increased by 5.2 percent over 10 months of this year. Positive growth dynamics is seen in all regions, but primarily in Almaty city, Almaty and Kyzylorda regions.



Translation and editing by Saniya Sakenova