Kazakhstan's GDP shrank 1.8 percent year-on-year in the second quarter of 2020, compared to a 2.7 percent expansion in the previous quarter, in line with estimates from the President Kassym-Jomart Tokayev on July 10th 2020. It was the first economic contraction since the first quarter of 2016 and the steepest since the second quarter of 2009, amid the global pandemic. The decline in services (-5.4 percent) more than offset the expansion in the goods-producing sector (4.1 percent). source: Agency of Statistics of the Republic of Kazakhstan
GDP Annual Growth Rate in Kazakhstan averaged 4.81 percent from 1995 until 2020, reaching an all time high of 14.10 percent in the second quarter of 2001 and a record low of -9.20 percent in the third quarter of 1995. This page provides the latest reported value for - Kazakhstan GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Kazakhstan GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.
GDP Annual Growth Rate in Kazakhstan is expected to be -2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Kazakhstan to stand at 3.70 in 12 months time. In the long-term, the Kazakhstan GDP Annual Growth Rate is projected to trend around 3.80 percent in 2021 and 3.60 percent in 2022, according to our econometric models.