Kazakhstan's Economy Defies Oil Decline with 4.1% Growth
Kazakhstan's economy expanded by 4.1% in the first seven months of this year, maintaining its growth pace from the first half of 2026. According to the Ministry of National Economy, oil production declined by 8.9%, but the non-oil sector experienced a significant boost of 5.4%. The manufacturing sector remained one of the strongest performers, growing by 9%.
The fastest growth rates were seen in pharmaceuticals at 38.5%, fabricated metal products at 35%, chemicals at 26.9%, and mechanical engineering at 22%. Food production rose by 13.9%, while building materials increased by 9.4%. Growth was also recorded in construction, transport, warehousing, trade, agriculture, and communications.
Economist Ruslan Sultanov noted that the growth is becoming more distributed, with several sectors contributing to the economy's overall performance. He emphasized that high growth rates in individual industries do not necessarily translate to a significant contribution to GDP.