Kazakh retail sales moved up by 4.4% y/y in January, reaching KZT694.6bn (€1.64bn), according to data published by Kazakhstan's State Statistics Committee on February 13.
The gain reflects the ongoing household consumption recovery driven by refreshed economic growth, which registered at 4.1% in 2018. Growth recovered to 4% in 2017, up from the 1% recorded in 2016.
Kazakhstan's GDP growth has been restored in tandem with a boost in oil production stemming from growing oil prices and an ongoing ramp-up in output at the giant Kashagan oil field. The country's economic diversification with a focus on foreign investments in infrastructure and agriculture have also helped boost growth.
Foodstuffs accounted for 31.3% (KZT217.7bn) of the retail sales in the month, while non-foodstuffs accounted for the remaining 68.7% (KZT476.9bn).
Nearly 42.2% of retail sales was accounted for by one-person businesses.
The largest Kazakh city, commercial capital Almaty, accounted for KZT223.6bn of total retail sales in January. The political capital Astana followed with KZT77.4bn, ahead of Karaganda Region's KZT68.2bn.