According to the final numbers from the annual report by Bureau of National Statistics of the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan, the furniture production volume in 2021 reached 64,329 million tenge. This represents a 20.1% increase to the corresponding period of the previous year in current prices, not adjusted for inflation.
The reported value is an equivalent of 151 million USD. The average currency exchange rate was 426.03 KZT for 1 USD since the beginning of the year.
Rising costs of raw materials and components all over the world, as well as geopolitical shifts, contribute to the rise in prices for Kazakhstan-made furniture, too. If taking into account the furniture manufacturers’ price change (+7.6%) in the reporting year, the production volume dynamics in real terms, adjusted for inflation, amounts to plus 12.5%.
The updated numbers and most actual data shall be included into our extended Market Reports.