Trade turnover between Kazakhstan and CU states drops to $ 9bn over H1

Aug 18. Kazpravda

By Shynar Ospanova

It is due to economic slowdown in Russia.

Trade turnover between Kazakhstan and CU states drops to $ 9bn over H1Sales between Kazakhstan and the Customs Union states over January-June 2014 downed to $ 9 billion, the chairman of the Statistics Committee of Kazakhstan’s National Economy Ministry Alikhan Smailov told a briefing in the Central Communications Service.

“In general, our trade turnover with the Customs Union made about $ 9 billion, it fell slightly, because of a decline in economic growth in Russia. There is a 23% decline in the external trade turnover with the CU states too over January-June this year compared with the first six months of last year, “- Smailov stated, which is related to the fall in demand for Kazakhstan’s exports in Russia.

“Firstly, exports decreased by 22%, because demand fell for Kazakhstan’s exports, and Russia’s imports to Kazakhstan decreased by 24%. This is mainly due to two factors: adjustment of the exchange rate earlier this year by the National Bank, and the import substitution strategy pursued by the Government in the domestic market. It led in the first place to decline of Russian imports, “- he stressed.

In addition, the foreign trade turnover with the CU members in the total foreign trade turnover is only 15%.

“On 6 commodity groups we have 91% of total imports from CU. These are food products, mineral products, mainly: oil and petrochemicals, timber and paper, metal products, machinery, equipment and vehicles. These 6 positions of commodity groups make 91%, and imports decreased primarily due to them, Smailov specified.

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GDP in the republic grew by 4% for 7 months of 2014

Aug 18. Kazpravda

The head of RK Statistics Committee noted that such GDP growth is a good indicator.

GDP in the republic has grown by 4% for 7 months of 2014, said chairman of the Statistics Committee of RK Ministry of National Economy Alikhan Smailov at the beifing in the Central Communications Service under RK President, infomred

“On the results of 7 months, we see GDP growth of 4%. In general, this growth is not bad, and I think that before the end of the year its rate should increase slightly due to the pace of construction and collection of harvest. Moreover, the inflation is still within the designated corridor. Overall the situation remains stable, and GDP, we think will increase, “- he said.

Meanwhile, according to statistics, for 7 months of this year, the inflation was 4.9%. Earlier, Minister of National Economy of Kazakhstan Erbolat Dossaev reported that GDP growth in the republic from 2008 to 2013 was 30%.

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Production volume in Astana for 7 months decreased

Aug 18. Kazpravda

By Ainur Kuramysova

The decrease has been observed in the manufacturing, engineering and food industries.

The volume of industrial production in Astana for the past 7 months of this year decreased by 23.8%, informs with reference to the press service of the municipal statistics department.

“The physical volume of production in the manufacturing industry decreased by 23.8%, compared to the same term of January-July 2013, and made up in current prices 109.0 billion tenge; -it is stated in the report.

In particular, the decrease has been observed in production of textiles, wood and cork, except furniture, articles of straw and plaiting materials, rubber and plastic products and in production of goods and services in mechanical engineering.

The index of physical volume in food production was 98.6%. Compared to the same period of 2013, production of flour, cereal and vegetables reduced by 11.8%, bread – by 13.1%, dairy products – by 9.5%. Along with this, production of meat increased by 20.0%, pasta – by 19.0%.

The volume of industrial output in January-July 2014 (goods and services) amounted to 141.7 billion tenge, and the index of industrial volume in this period compared to January-July 2013 – was 82.9%.

At the same time, enterprises of the construction industry provided growth of precast elements (113.9%).

Decline of physical volume in engineering is mainly explained by reduction of release of diesel engines (30.8%).

In electricity, gas, steam supply and air conditioning production volume (goods and services) in January-July 2014 amounted to 28.2 billion tenge; the index of physical volume was 117.6 % to the same term of 2013.

The volume of services in water supply, sewerage system, control over the collection and distribution of wastes in January-July 2014 compared with January-July 2013 decreased by 11.4% and amounted to 4.5 billion tenge.