Real sector becomes stability indicator of Kazakh national economy in 2020

ic24.kz

In 2020, the growth of the real sector became a driver for the economy of Kazakhstan. It stood at 2 percent. This was announced at a meeting of the Government. Positive trends were observed in construction, agriculture and manufacturing industries. Thanks to the latter, there has been a qualitative change in the structure of Kazakhstan’s economy. Last year, the share of manufacturing in the total industry increased by nearly 10 percent. In fact, the light industry, the automotive industry and the manufacture of finished metal products showed double-digit growth. Overall, the foreign trade turnover last year amounted to nearly US$78 billion. Domestic companies exported products worth more than US$43 billion. More than 12 trillion tenge (US$28.6 billion) of investments were attracted to fixed capital.

“The growth of manufacturing industry output totaled 3.9 percent, including in metallurgy by 2.6 percent, food production by 4 percent, pharmaceuticals by 47 percent, mechanical engineering by 16.3 percent, as well as automotive industry by 52.5 percent and light industry by 15 percent. Construction volumes increased by 11.2 percent, housing commissioning by 16.8 percent or nearly 15.3 million square meters,” said Askar Mamin, Kazakh Prime Minister.

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