Kazakh retail sales rose by 1.4% y/y in January-October, registering a value of Kazakhstani tenge KZT12.09tn ($25.8bn), according to data published by Kazakhstan's State Statistics Committee. (chart)
Retail sales increased despite a surge in inflation caused by the economic impacts of Russia’s invasion of Ukraine. It is possible that the rise in retail was party supported by an influx of foreign citizens, mainly Russian, who have moved to Kazakhstan this year.
The largest Kazakh city, the commercial capital Almaty, accounted for 31.9% of total retail sales in the first ten months of this year. The political capital Nur-Sultan followed with 12.3%, ahead of West Kazakhstan Region’s 6.1%.