Growth in Manufacturing Amounts to 24.5% in Kazakhstan for 5 Years
OREANDA-NEWS. July 04, 2014. "Real growth in manufacturing amounted to 24.5% over the past 5 years, while in the mining industry - 21.1%.
The manufacturing industry grew faster on average by 6.4% annually, and the growth in the mining industry has averaged 3%, the share of manufacturing in GDP fell from 11.8% in 2008 to 10.7% in 2013." Y. Dossayev said at the meeting on implementation of NP FIID with participation of the President.
According to the Head of MEBP, increase of nominal GDP, high growth of services and increase in energy prices influenced on reducing the share of the manufacturing sector in GDP. Thus, world oil prices have increased by 11.5% during this period.
"The share of services in GDP rose to 53.2% in 2013, and in accordance with the objectives set in the Concept of entering the top 30 developed countries in the world, its share in GDP must be increased to 70% by 2050, which corresponds to the world trends. These factors also had a negative impact on the decline in non-oil exports by 2.7% from \\$20 billion in 2008 to \\$19.5 billion in 2013," the Minister said.
Real GDP growth in Kazakhstan amounted to 30% from 2008 to 2013, the Minister said.
"Real GDP growth of 30% in 2013 to base 2008 has been provided taking into account the average annual economic growth of 6.4%," Y. Dossayev said at the meeting on implementation of NPFIID.
According to him, GDP has doubled up to 34.1 trillion tenge in 2013 in nominal terms over the given period.
The Minister also said about 3.7 trillion tenge was allocated to fund the NPFIID projects during the period from 2010 to 2013.
In addition, more than 2.4 trillion tenge of private investment was attracted to implement investment projects private.
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