Kazakhstan Current Account Deficit Widens in Q3

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.

Kazakhstan’s current account recorded a surplus to USD 0.67 billion in the first quarter of 2025, shifting from a USD 0.05 billion deficit in the corresponding period of the previous year, preliminary estimates showed. This marked the largest current account surplus since Q3 of 2022, as the trade surplus widened to USD 6.09 billion from USD 5.75 billion a year earlier. At the same time, the primary income deficit narrowed slightly to USD 5.10 billion from USD 5.59 billion. Meanwhile, the services shortfall rose slightly to USD 0.16 billion from USD 0.14 billion while the secondary income deficit increased to USD 0.15 billion from USD 0.06 billion.