Kazakhstan’s economy expands at 4.2% annual rate since Jan

Kazakhstan’s economy expanded at a 4.2% annual rate since January, Kazakh National Economy Minister Nurlan Baibazarov told the Government meeting, Kazinform News Agency reports.

In January-February the country’s economy grew at a 4.2% pace accelerating from 3.9% recorded in January. Positive dynamics is seen in the non-financial sector with 5.1% growth.

The most growth is reported in the construction sector, communications and information, transportation and warehousing, and processing industry.

Capital investments rose by 7.9% accelerating from 0.6% in January. Investments into the construction sector increased by 2.7 times, education by 56%, transportation and warehousing by 47%, information and communications by 45%, processing industry by 37% and agriculture by 12%.

Kyzylorda, Turkistan, Zhetysu regions, and Astana demonstrated the best performance indicators, while Akmola, Atyrau, and Mangistau regions reported a decrease in volume investments.

The country’s foreign trade exceeded 10 billion US dollars in January. Exports reached 6 billion US dollars, imports exceeded 4 billion US dollars.

The processing industry output rose by 7.4%.