Economic growth remained strong in December

KAZAKHSTAN - In Brief 16 Jan 2026 by Evgeny Gavrilenkov
The Bureau of National Statistics reported that the short-term indicator—a flash estimate of economic activity across six main sectors—rose by 9.4% in 2025. For 11M25, it was up 9.3%, suggesting a bit of acceleration in the final month. Transportation and warehousing led the way with 20.4% growth, followed by construction at 15.9% and trade at 8.9%. Retail sales climbed 7.5%, while wholesale trade increased by 9.5%. Industrial output also saw strong gains of 7.5%, with mining up 9.4% and manufacturing rising 6.4%. Notably, manufacturing growth picked up in December, jumping 11.6% year-over-year.The government’s preliminary estimate shows GDP up 6.5%, roughly in line with recent sectoral data. Domestic demand remains solid, driven by strong retail sales growth—still heavily supported by rapidly expanding household credit—and a 13.0% boost in production capacity investments.  Foreign trade data tells a similar story, with imports rising 5.5% y-o-y in 11M25 (full-year figures due in February). Exports slipped 0.1%, mainly from a 17.2% drop in shipments to Russia. Overall, Kazakhstan continues to diversify its economy and trade flows, as robust manufacturing growth keeps pace with rising domestic demand.

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