Kazakhstan’s processing industry revenues 60% up

ASTANA. KAZINFORM - The processing industry is now giving a new stimulus for the country's economic growth. During the first half of 2016 the revenues of processing enterprises equaled more than KZT 4 trillion which is 60% more than during the same period last year finprom.kz informs.

Revenue growth in the production sector is much stronger this year than in the whole industrial sector of Kazakhstan (+38% for year). Therefore the share of the processing industry in the overall revenue of the country has increased from 35% (2015) to 38,4% (2017).

Both large and small enterprises demonstrate active behavior in the processing sector, yet the leading role in generation of income still belongs to large market participants.  

Within a year (compared with the first half of 2015) the revenues of large and medium enterprises has increased by KZT 1,2 trillion which is 50% growth compared to the last year level.

Small enterprises during January-June 2016 have earned 2,3 times more than in 2015 - the growth has equaled KZT 358 billion. As a result the share of minor business in the country's overall revenue has increased from 11% to 16%.

Despite the strong profit indicators the impact of the recession upon the revenue structure in the processing industry is there.

The positive financial outcomes of processing enterprises in 2016 is, to a certain extent, the result of intensive support from the government. In Kazakhstan there has been deployed a broad campaign focused on stimulation of the processing industry and increase of its contribution to the country's GDP. The campaign includes the State Program of Industrial and Innovative Development for 2015-2019 with funding volume KZT 644 billion and Business Road Map 2020 for the amount of KZT 310 billion, and the State Program of Financing of Minor Processing Enterprises for the amount of KZT 200 billion.