Economic expansion reached 6.0% in the first 8 months of 2017, up from no growth in the same period of 2016. Growth outside of the important gold sector was 3.6%. Industry expanded by 26.4%, also reversing contraction in the same period of last year, by 8.3%, and reflecting hefty gains of 91.2% in gold mining, 24.0% in manufacturing,and 12.2% in electricity generation. Construction expanded by 5.6%, supported by a 4.1% rise in investment. Agriculture increased by 1.1% on gains in animal husbandry. On the demand side, private consumption is estimated to have grown slightly as higher retail sales, largely from much higher remittances, boosted trade by 3.9%. In view of unexpectedly strong economic performance in the first 8 months, this Update raises the growth projection for 2017 and, with the improved outlook for Kazakhstan and the Russian Federation, for 2018 as well. Read more from Asian Development Outlook 2017 Update
Note: GDP growth rate forecasts for 2017 and 2018.