Kazakhstan Current Account Swings to Surplus in Q1

Kazakhstan’s current account posted a deficit of USD 4.82 billion in the fourth quarter of 2025, widening from USD 3.90 billion in the same period a year earlier, according to preliminary estimates. The services deficit increased to USD 0.36 billion from USD 0.29 billion in Q4 2024, while the trade surplus shrank sharply to USD 0.40 billion from USD 2.40 billion. In contrast, the primary income deficit narrowed to USD 4.87 billion from USD 5.88 billion, while the secondary income balance shifted to a modest surplus of USD 4.2 million from a deficit of USD 131.5 million.

Kazakhstan’s current account recorded a deficit of USD 3.11 billion in the third quarter of 2025, widening from a USD 2.11 billion in the corresponding period of the previous year, preliminary estimates showed. The deficit expanded for services (USD -0.31 billion vs -0.26 billion in Q3 2024) and the primary income (USD -6.08 billion vs USD -5.41 billion). At the same time, trade surplus decreased to USD 3.45 billion from USD 3.74 billion. Conversely, the secondary income gap narrowed slightly to USD 0.17 billion from USD 0.18 billion.

Kazakhstan’s current account recorded a deficit of USD 2.8 billion in the second quarter of 2025, widening from a USD 1.54 billion in the corresponding period of the previous year, preliminary estimates showed. This marked the largest current account shortfall since the second quarter of 2023, mainly due to a decrease in trade surplus to USD 2.98 billion from USD 5.51 billion a year earlier. At the same time, the secondary income gap expanded to USD 0.13 billion from USD 0.1 billion. Meanwhile, the services account deficit declined to USD 0.21 billion from USD 0.34 billion, as well as the primary income shortfall to USD 5.44 billion from USD 6.61 billion in the same month a year ago.