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Kazakhstan GDP grew 6.5% in Q1 2011

27 april 2011, 10:54
Kazakhstan's Q1 2011 GDP growth made 6.5% against the similar period of last year, Tengrinews.kz reports.

According to the Ministry of Economic Development, industrial production volumes grew 6 percent. Engineering sector was developing dynamically, whereas textiles production decreased. The increase of industrial production was recorded in all the country's regions.

Minister of Economic Development and Trade Kairat Kelimbetov said that during the first two months of 2011 the Russian-Kazakh-Ukrainian Customs Union yielded noticeable results: export of Kazakhstan products increased by 56 percent, whereas export to Belarus grew 2.6-fold.

Import from Russia grew 33 percent. Volume of foreign trade with the Customs Union member-countries grew 41.5 percent reaching $2.9 billion; it was responsible for 18.8 percent of Kazakhstan's overall trade turnover.

“Socio-economic results of the first quarter are optimistic,” Kazakhstan Prime-Minister Karim Massimov wrote in his Twitter account after Kelimbetov's speech.

By Renat Tashkinbayev

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