Boston, MA -- (SBWIRE) -- 07/16/2012 -- Despite the current slow-down in the performance of the country's key export partners, we expect Kazakhstan's private consumption growth forecast of 3.5% in the course of 2012 to be fulfilled. Our forecast is underpinned by factors such as the increase in average wages, low unemployment (at 5.5% in February 2012), and the strong retail trade growth, which came in at 11.5% year-on-year (y-o-y) in real terms in the same month. The development of food and drinks values will be further boosted by the gradual expansion of the organised retail outside key urban areas.
Headline Industry Data (local currency, compound annual growth rate)
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- 2012 per capita food consumption: +9.3%; forecast to 2016: +10.7%
- 2012 alcoholic drink value sales: +14.8%; forecast to 2016: +13.8%
- 2012 soft drink value sales: +15.4%; forecast to 2016: +16.3%
Key Industry Trends And Developments
Kazakhstan Looking to Expand its Export Reach: In April 2012, the presidents of Indonesia and Kazakhstan met to discuss their countries' cooperation in a variety of industrial fields, as reported by Kazinform. Both countries are experiencing rapid economic growth, and are looking to capitalise on the subsequent increase in commercial opportunities for exported products. Key areas slated for further discussions include agriculture (with Kazakhstan looking to export grain and grain-based products to Indonesia), food industry and energy, among a number of others.
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