Kazakhstan Industrial Output Growth Slows in May

Kazakhstan’s industrial production rose by 4.7% year-on-year in May 2026, slowing from a 9.6% advance in the previous month. The slowdown was mainly driven by weaker growth in manufacturing activity (5.2% vs 14.1% in April), water supply, waste management, and pollution control (2.9% vs 8.4%), and mining and quarrying (3.0% vs 5.0%). In contrast, electricity, gas, steam, hot water, and air conditioning supply accelerated sharply (16.0% vs 9.1%). On a monthly basis, industrial output growth picked up to 9.0% in May from 7.2% in the previous month. Considering the January to May period, industrial production grew by 2.5% compared with the same period a year earlier.

Kazakhstan’s industrial production climbed by 9.6% year-on-year in April 2026 from a 4.3% rise in the previous month and marking the strongest growth since August 2025. The sharp pickup was largely driven by a rebound in mining and quarrying activity (5% vs -5.6% in March). Growth also remained robust in manufacturing (14.1% vs 13.6%), electricity, gas, steam, hot water, and air conditioning supply (9.1% vs 5.7%), as well as water supply, waste collection and treatment, and pollution control activities (8.4% vs 7.7%). However, on a monthly basis, industrial output growth eased to 7.2% in April from 16.2% in March. In the first four months of 2026, industrial production rose 1.9% compared with the same period a year earlier.

Kazakhstan’s industrial production expanded by 4.2% year-on-year in March 2026, accelerating from a 3.2% increase in the previous month, driven primarily by continued strength in the manufacturing sector (13.6% vs. 13.1% in February). Additionally, the contraction in mining and quarrying moderated to -5.6% from -8.0%. Conversely, growth in electricity, gas, steam, hot water, and air conditioning supply softened (5.7% vs 8.2%), while production growth in water supply, waste collection and treatment, and pollution control moderated significantly (7.7% vs 26.8%). On a monthly basis, industrial output growth slowed to 16.2% in March from 24.5% in February. For the first quarter of 2026, industrial production edged down 0.7% compared to the same period a year earlier.