Economics

How quarantine affected local trade, Sultanov said

Photo: Kazpravda.kz/Adilbek Tauekelov
Domestic trade turnover has grown in Kazakhstan. Minister of Trade and Integration of the Republic of Kazakhstan Bakhyt Sultanov announced this at a reporting meeting with the population, Kazpravda.kz reports.

"Against the background of a noticeable decline in industry performance due to the quarantine restrictions, we note a gradual recovery in activity in domestic trade. For 5 months of 2021, domestic trade grew by 15.8% compared to the same period last year," the speaker said.

Sultanov recalled that the forced hard quarantine during the emergency period led to a complete stop of trade and other facilities.

"During this period, we have lost more than 1 trillion tenge of trade turnover. However, an important characteristic of today's indicators is that we are already 0.5 trillion tenge ahead of the pre-pandemic year for five months of this year. As you know, trade is a key sector of the economy with a share in the structure of GDP of about 14.7% in the first quarter of this year. As a result of the pandemic, the share of trade has decreased, and therefore now special attention is paid to its development," the minister added.

According to him, in 2020, the physical volume index compared with 2019 decreased by 14.4% and amounted to 92.7%.

"But in the first 5 months, according to preliminary data, there is a recovery, and real growth in trade amounted to +6.7 percentage points compared to the previous year," Bakhyt Sultanov concluded.
Author:
Ekaterina Eliseyeva
13:35, 22 June 2021
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