- BIST10012,151-0.94%
- USD49.220.00%
- EUR55.21+0.28%
- GOLD4,189.90-0.63%
- INTEREST37.00%-1.00
- BITCOIN82,595-1.29%
- October 12, 202619°
- BIST10012,151-0.94%
- USD49.220.00%
- EUR55.21+0.28%
- GOLD4,189.90-0.63%
- INTEREST37.00%-1.00
- BITCOIN82,595-1.29%
- October 12, 202619°
Kazakhstan’s economy grew 4.1% in the first half of the year
Kazakhstan’s Deputy Prime Minister and Minister of National Economy Serik Zhumangarin announced that the country’s economy grew 4.1% in the first half of 2026. The non-oil sector and private investment were the main drivers of growth.
Kazakhstan’s economy grew 4.1% in the first half of 2026. The growth rate represents an acceleration of 0.4 percentage points compared with the January–May period.
Deputy Prime Minister and Minister of National Economy Serik Zhumangarin shared the data with the public at a government meeting. Zhumangarin emphasized that the increase in real-sector growth from 4% to 5.1% was decisive in this positive performance. He also said that the services sector maintained its stable trajectory, with its volume increasing by 3.5%.
The non-oil sector remains the economic locomotive
The non-oil sector, the economy’s main driver, continued to grow steadily at more than 5% this year. Construction, manufacturing, transportation services and trade recorded the highest growth rates, with these four sectors contributing approximately 85% of gross domestic product (GDP) growth. Agriculture and communications services also maintained positive momentum.
Notable increase in private investment
Zhumangarin said that investment continued to be the driving force behind growth. Fixed capital investment reached 9.5 trillion tenge in the first half of the year, rising by 9.6%. The increase in private-sector investment stood out at 21.4%.
The structure of fixed capital investment is also changing, with private investment accounting for 87%. The most notable sectoral increases were 2.3-fold in information and communications, 38.7% in construction, 33.3% in manufacturing, 24.6% in agriculture and 11.6% in transportation. High investment activity was also observed in the Ulytau, Abai, Zhambyl and Turkistan regions.
Foreign trade surplus exceeds $4.4 billion
Foreign trade volume stood at $56.3 billion in the January–May period. Exports reached $30.4 billion, while exports of processed products totaled $11.8 billion. Imports were recorded at $26 billion. Kazakhstan thus maintained a positive trade balance exceeding $4.4 billion.
SMEs increase their weight in the economy
Entrepreneurial activity in the country continues to demonstrate resilience to domestic and external changes. According to data from the State Revenue Committee, the total number of entrepreneurs rose to 2.9 million in the first half of the year. This represents an increase of 499,000, or 20.4%, compared with the beginning of 2026. The number of self-employed people reached 689,000, while the combined number of individual entrepreneurs and self-employed people increased from 1.9 million to 2.4 million. The number of legal entities rose from 579,756 to 587,117.
The share of small and medium-sized enterprises (SMEs) in GDP rose from 33.5% in 2021 to 40.9% at the end of 2025. In the first quarter of 2026, total employment across the economy stood at 9.4 million people, while 4.5 million people were employed directly by SMEs as of January 1, 2026.
Positive effects of tax reform
Zhumangarin said the comprehensive tax reform carried out last year had already contributed positively to the goals of strengthening budget revenues and ensuring fiscal stability. State budget revenues increased by approximately 16% in the first half of the year. Value-added tax (VAT) revenues rose by approximately one and a half times compared with the same period last year. The minister added that the process was being kept under constant control.
Stay Updated with The Turkiye Times
Subscribe to be informed about special news, developments and announcements. We will keep you informed.
By signing up, you agree to our Privacy Policy
