Leading indicator of economy (January 2023)

The Short-term Economic Indicator showed solid growth and amounted to 5.0% in the first month of 2023.

Such accelerated development was provided by the growth of the real sector (+2.3%) and the service sector (+7.6%). Positive dynamics were observed in all major sectors of the economy, while the main contribution to its growth was made by the service industries: wholesale and retail trades, as well as the communications industry. If we consider the real sector, then the greatest growth was observed in construction.

According to data for January 2022, industry grew by 1.4%. The mining industry moved into the growth zone and amounted to 1.2% (7.2% in January 2022) for the first time since October last year. This growth was provided by the production of oil (+1%), non-ferrous metals (+9.1%) and other minerals (+7.6%). However, there was a decrease in coal and iron ore production continued compared to last year.

The Gross Value Added of the manufacturing sector increased by 1.6% as a result of an increase in the production of pharmaceutical products (+51%), food (+9.8%), beverages (+33.2%), textiles (+25.5%), tobacco products (+21.3%), and mechanical engineering (+12.1%). At the same time, there is a decrease in clothing (-13.8%) and metallurgical production (-7.4%).

The construction industry showed an impressive increase of 12.5%. In January, the construction of residential buildings decreased by 31.5% compared to the same period last year, and, on the contrary, non-residential buildings increased by 39.1%, which blocked the negative impact of the housing part. Construction of structures increased by 14.4%. In our opinion, this was due to increased investment in fixed assets, delivery of construction projects and continued government support of the industry.

All major industries in the real sector showed good growth.

Thus, the growth in the communications market was +18.1%, and in trade +19.4%: the retail sector grew by 20.8%, and wholesale – by 18.8%.Such accelerated growth of industries is explained by the last year’s low base effect due to the January events. At the same time, the development of the communications industry is supported by the state through national projects to provide citizens with high-quality Internet, and the trade – by lending from banks.

According to the BNS, the methodology in the transportation and warehousing industry was revised, as a result of which in January there was an increase of 7.9% (according to the new methodology, last year the growth was +8.6%). The growth was provided by the acceleration of passenger turnover by 49.3% and the growth of passenger traffic by 32.5%. The revenues of enterprises from transportation in the first month of this year amounted to 371.5 billion tenge.

Klara Seidakhmetova


12 May 23


Beauty industry: beauty salons

In this work, we analyzed the state of the world and Kazakhstan beauty salon markets, their sizes, characteristics and trends in the beauty industry.

The global beauty salon market is at rapid growth and will continue to grow in the coming years. The growth in demand for beauty services in different countries is associated not only with an increase in people's living standards but with a change in consumer preferences also. As a result of our research, it turned out that the most popular category of beauty services worldwide is hair care, then nails and skin care.

At the same time, the costs of beauty industry services in different countries differ due to cultural and economic factors. We also found that chain beauty salons are more common in Europe and the USA than in Kazakhstan. This is probably a consequence of the industry being less developed due to differences in consumer preferences.

Kazakhstan's beauty salon market is also in dynamic development, and the most popular service is hair care. The study of the domestic market was carried out through the analysis of up-to-date data from our database, which contains information about the amount, number and frequency of transactions of our customers.

As a result of the study, we determined that there is fairly high competition between beauty salons in the domestic market due to the discrepancy between supply and demand. The latter is insufficient for such a number of salons. The shortage of beauty salons and hairdressers is observed only in a few regions of the country. Perhaps that is why the average age of salons in Astana and Almaty cities is small. Also, there is relative equality in the cost of men's and women's haircuts in Kazakhstan.

The results of the study can be useful for developing an industry development strategy and making decisions for a new or existing business.

One-off Researches

BusinessNargiza Makenova

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