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- October 18, 202615°
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- INTEREST37.00%-1.00
- BITCOIN81,883+0.61%
- October 18, 202615°
Kazakhstan's economy grows 4.1% in first half of 2026
Kazakhstan's Deputy Prime Minister Serik Jumangarin announced that the country's economy grew 4.1% in the first six months of the year, driven by the non-oil sector and private investments. The foreign trade surplus exceeded $4.4 billion, while budget revenues rose about 16%.
Kazakhstan's economic performance reached a growth rate of 4.1% in the first half of 2026. According to data shared by Deputy Prime Minister and Minister of National Economy Serik Jumangarin at a government meeting, this growth represents an acceleration of 0.4 percentage points compared to the January-May period.
Jumangarin stated that the main driver of growth was the performance of the real sector. Real sector growth rose from 4% to 5.1%, while the volume of the services sector increased by 3.5%.
Non-oil sector and private investments stand out
The non-oil sector maintained its locomotive role in the economy and also recorded growth above 5% this year. Construction, manufacturing, transport services, and trade sectors achieved the highest growth rates, contributing approximately 85% to the Gross Domestic Product (GDP) growth.
Investments continued to be the main dynamic of growth. In the first half, fixed capital investments reached 9.5 trillion tenge, increasing by 9.6%. The increase in private sector investments was notable at 21.4%. The share of private investments in the total rose to 87%.
Foreign trade surplus and the strength of SMEs
In the January-May period, foreign trade volume amounted to $56.3 billion. Exports were $30.4 billion, processed goods exports were $11.8 billion, and imports were $26 billion. Thus, Kazakhstan maintained a trade surplus exceeding $4.4 billion.
The weight of Small and Medium-sized Enterprises (SMEs) in the economy is increasing. The share of SMEs in GDP rose from 33.5% in 2021 to 40.9% at the end of 2025. While employment across the economy was 9.4 million people in the first quarter of 2026, as of January 1, 2026, 4.5 million people were employed in SMEs.
Tax reform increased budget revenues
Jumangarin announced that the comprehensive tax reform implemented last year yielded positive results. In the first half of the year, state budget revenues increased by about 16%. Value Added Tax (VAT) revenues increased approximately one and a half times compared to the same period last year. The minister stated that this process is kept under constant control.
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