Kazakhstan Economy Expands 4.8% in January-September

Kazakhstan’s economy grew by 4.8% year-on-year in January–September 2026, exceeding the Economy Minister’s initial estimate of 4.2%, but slowing from 4.9% in the first eight months of the year. According to Economy Minister Zhumangarin, the deceleration was primarily driven by an 8.3% decline in oil production over the period, reflecting the country’s heavy reliance on mineral and oil exports. Oil production began to recover in August, returning to previous levels following a July decline caused by disruptions to exports through the Caspian Pipeline Consortium. Mining and quarrying ouput continued to decline at a steady rate of 4.3%. Meanwhile, growth also slowed in construction (11.5% vs 15.6% in January-August) and transportation and storage (7.2% vs 7.3%).

Kazakhstan’s economy grew by 4.2% year-on-year in January–September 2026, slowing from 4.9% growth recorded over the first eight months of the year. The deceleration was primarily driven by an 8.3% decline in oil production over the period, reflecting the country’s heavy reliance on mineral and oil exports. Oil production began to recover in August, returning to previous levels following a July decline caused by disruptions to exports through the Caspian Pipeline Consortium.

The economy of Kazakhstan expanded 4.9% year-on-year in the January-August 2026 period, the same as in the first seven months of the year. Growth moderated in industry (2.8% vs 3% in January-July), manufacturing (8.4% vs 9%) and transportation and storage (7.3% vs 7.4%) while output in mining and quarrying contracted further (-4.3% vs -4.4%). Meanwhile, production increased faster pace in agriculture (5.2% vs 5%), construction (15.6% vs 15.3%) and trade (6% vs 5.9%).