The Bureau of National Statistics of the Agency for Strategic Planning and Reforms of Kazakhstan has released the Short-Term Economic Indicator (STEI) for January-March 2024 compared to the same period in 2023. According to the STEI, the first quarter of 2024 stood at 104.7%, showing growth compared to the previous year. However, when compared to the 105.2% STEI in January-February 2024, it indicates a noticeable slowdown in the country's economy.
Analysts from the Bureau of National Statistics of the Agency for Strategic Planning and Reforms noted that the highest growth in physical volume indices was observed in construction (115.9%), telecommunications (109.3%), and transport and storage (108.3%) sectors during January-March 2024 compared to the same period in 2023. On the other hand, the lowest growth in physical volume indices was recorded in agriculture (101.6%), trade (103.3%), and industry (103.8%).
Looking at the regional breakdown, most regions in Kazakhstan experienced an increase in the short-term economic indicator. The highest growth rates were observed in Aktobe region at 113.7% and Zhetysu region at 113.4%. However, negative growth rates were seen in Mangystau at -97.1%, Atyrau at -98.2%, and Zhambyl at -99.7%.
These indicators provide valuable insights into the diverse performance of different sectors and regions within Kazakhstan, offering a comprehensive overview of the country's economic landscape in the first quarter of 2024.
