Kazakhstan's National Bank releases results of survey of manufacturers

Finance Materials 19 August 2022 20:52
Baku, Azerbaijan Trend News Agency
Kazakhstan's National Bank releases results of survey of manufacturers

The National Bank of Kazakhstan presented the results of a survey of enterprises in the real sector of the economy (industry market survey) for the second quarter of 2022, Trend reports via the press service of the National Bank of Kazakhstan.

The results of the survey of real sector enterprises demonstrate an improvement in the situation with demand for finished products in the transport and warehousing industries, as well as agriculture. In total, more than 2,600 enterprises of the extractive and manufacturing industries, construction, trade, agriculture, transport and warehousing participated in the survey.

The acceleration of the growth rate of prices for raw materials and supplies in the 2Q2022 was noted in all industries.

The situation with demand in agriculture, manufacturing and trade is expected to improve in the third quarter of 2022. A slowdown in demand is forecasted in the mining industry and the transport and warehousing industry. A slowdown in the growth of prices for raw materials, supplies and finished products is also expected.

The overall level of capacity utilization has increased. The greatest increase was observed in construction.

"Importance of competition is still at a high level. Trade enterprises are the most affected by market competition, where 38.1 percent of enterprises feel its impact on their business. The smallest share was recorded in the mining industry (14.1 percent). The US dollar and the Russian ruble remain the main currencies used in settlements with foreign partners. The US dollar dominates settlements in the mining industry (62.1 percent of enterprises), the Russian ruble is used by 64.9 percent of enterprises in the manufacturing industry, 58.4 percent in trade," Deputy Director of the Monetary Policy Department of the National Bank of Kazakhstan, Denis Chernyavskiy said.

The negative impact of changes in the exchange rate of the Kazakh tenge against the Russian ruble on the economic activities of enterprises increased in the second quarter of 2022. The negative impact of the tenge exchange rate against the US dollar remained at the same level as in the first quarter of 2022.