In 2024, the retail trade volume in Kazakhstan reached 24.45 trillion tenge. Compared to the previous year, the real growth accelerated by 4.6 percentage points, reaching 9.8%. These current rates are the highest since 2013, according to DATA HUB, referencing data from the Bureau of National Statistics.
“The first seven months of 2024 showed relatively moderate growth, with average year-on-year rates at 5.8%. However, it began to gain momentum thereafter, reaching 19.3% in October. This became one of the highest figures in the last six years, and unlike previous years, the growth is not attributed to the low base effect,” the report states.
Analysts note that the last two months of 2024 have also been "successful": a 14% increase in November and a 13.3% increase in December.
“Almaty (34% of total retail volume) and Astana (13.2%) played a significant role in the current dynamics. In the first case, growth accelerated by 6.4 percentage points to 12.8%, while in the second, it increased by 7.8 percentage points to 10.5%. On the other hand, the growth of retail was positively impacted by a 9.1% increase in revenue from food sales, which had previously declined for two consecutive years,” experts report.