From January to December 2022, the furniture production volume in Kazakhstan reached 64,672 million tenge. This represents a 8.4% increase to the corresponding period of the previous year in current prices, not adjusted for inflation.
The reported value is an equivalent of 140.45 million USD. The average currency exchange rate was 460.48 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 (+9.5%) in the reporting year, the production volume dynamics in real terms, adjusted for inflation, amounts to minus 1.1%.
The furniture production in physical terms (units) decreased by 10.7% year-over-year.
The production data provided here is a preliminary estimate made by Bureau of National Statistics of the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan are subject to change later on. The updated numbers and most actual data shall be included into our extended Market Reports.