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The volume of industrial production in the first quarter of 2017 increased by 5.8%

by May 5, 2017 Legal

This was reported by Minister of Investments and Development Zhenis Kassymbek at the press conference at Ukimet Uyi on the results of implementing the Presidential Address Third Modernization of Kazakhstan: Global Competitiveness in the first quarter of this year.

According to the data, growth amounted to 5.6% in the mining industry. This was due to an increase in the extraction of non-ferrous metal ores by 10.8% and iron ore by 11.4%.

At the same time, positive dynamics is also evident in the manufacturing sector.

As a result of the new industrialization policy, the volume of production in the 1st quarter grew by 6.5%. First of all, due to growth in ferrous metallurgy by 7%, , in the pharmaceutical industry – by 25.1%, in the production of building materials – by 7.8%, in machine building – by 1.8%, � Z. Kassymbek informed.

In addition, increase in production is observed in the metallurgical industry. However, the chemical industry saw a decline in production – by 1.2%. The Minister, explaining the reasons for this, noted that “this is primarily due to the global conjuncture.

Also, our producers were affected by the decline in sales in the European market – competition from Vietnamese producers intensified. Nevertheless, by the end of the year we plan to achieve positive dynamics in this sector, � the Minister said.

Source: Government of the Republic of Kazakhstan