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GDP growth of 5.6% in Kazakhstan from January to March 2012

Kazakhstan’s GDP grew by 5.6% from January to March 2012, the Agency for Statistics of the Republic of Kazakhstan has announced.

Total GDP from January to March 2012 was 5.838tn tenge, a 5.6% growth on 2011’s figures, the agency reported. The figures followed predictions made at a Nur Otan expanded meeting dedicated to examining the 2012-2014 federal budget of GDP growth in the area of 6%.

Production of goods accounted for 40% of the total, with 55% from services. Fixed capital investments totalled 1.11tn tenge, a 4% increase on the same period last year.

The agency also reported a 2.7% growth in industrial production to 5.458tn tenge, with manufacturing and processing growing by almost 8% and electricity, steam, gas and air conditioning supply by 7%. Agricultural production and services shrunk in the period by 6% on last year to 261bn tenge, and mining also saw a drop in production of 0.2%.

Foreign trade turnover grew by 34% to $30.878bn, with exports growing by 32% and imports by nearly 39%.

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