Macroeconomic
Review

The gross domestic product in Kazakhstan in 2019 (according to the latest data from the Statistics Committee of the Ministry of National Economy of Kazakhstan) amounted to KZT 68,639.5 billion, which is 4.5% higher than in 2018 in real terms. The growth drivers include civil construction, communications, transport, and trade. The economy of Kazakhstan, thus, shows steady growth due to government investments and growing consumer demand.

Inflation in 2019 (December 2019 vs. December 2018) was 5.4%. The prices increased by 9.6% for food products, by 5% for non-food products, and by 0.7% for paid services. The inflation rate in 2018 was 5.3 %.

According to the Committee on Statistics of the Ministry of National Economy of Kazakhstan, in 2019, the industrial production index was 103.8%.