Kazakhstan GDP Growth Slows in H1 2026

Kazakhstan’s economy expanded 4.1% in the first half of 2026, slowing from 6.2% growth in the same period a year earlier. Services production increased 3.6%, accounting for just over half of total output, led by wholesale and retail trade and the repair of motor vehicles and motorcycles, which rose 5.7%. Real estate activity increased 1%, while transport and warehousing grew 7.1%. Meanwhile, goods production rose 5.1%, accounting for 36.4% of total output, supported by gains in manufacturing (9.8%) and electricity, gas, steam, hot water and air-conditioning supply (10.5%). Construction recorded the strongest growth, rising 15.2%. In contrast, mining and quarrying output declined 4%.

Kazakhstan’s economy expanded by 3.0% in the first quarter of 2026, slowing from a 5.0% growth in the same period a year earlier and marking the weakest expansion since the third quarter of 2022. Growth moderated as output in both the goods and services sectors rose at a softer pace, increasing by 2.1% and 3.6%, respectively. Within the goods sector, water supply recorded the strongest growth at 16.2%, followed by construction at 14.8%. In the services sector, transport and warehousing expanded by 12.8%, while wholesale and retail trade, including the repair of motor vehicles and motorcycles, grew by 4.8%. The shares of goods production and services production in GDP for January-March 2026 were 34.5% and 57.8%, respectively, with the industrial sector alone accounting for the largest share at 27.4%.

Kazakhstan’s economy expanded by 6.5% for the entire year of 2025, accelerating from a 4.8% growth in the previous year. The latest figure marked the strongest expansion since 2011, driven by higher output across both goods and services, which rose by 8.7% and 5.2%, respectively. The shares of goods production and services production in GDP for January–December 2025 were 36.1% and 57.7%, respectively, with the industrial sector alone accounting for the largest share at 26.3%. Within the goods sector, construction posted the highest growth at 15.9%, followed by mining and industry and quarrying at 9.4%, and overall industry at 7.4%. In the services sector, transportation and assembly saw a remarkable 20.4% increase, while wholesale and retail trade, including the repair of motor vehicles and motorcycles, grew by 8.9%.