Kazakhstan’s economy grew by 6.4% over the first 11 months of the
year. The results of the country’s socio-economic development were reviewed at
a government meeting. The real sector expanded by more than 8%, outpacing the
services sector, while agriculture also showed strong growth, exceeding 6%. Key
drivers included transport, construction, and industry. Investment remains a
major growth factor, with fixed capital rising over 13%, surpassing 18 trillion
tenge. A positive trade balance has been maintained, underscoring the economy’s
resilience and providing a solid foundation for further development.
«From
January to October this year, foreign trade turnover reached $116.3 billion.
Exports totaled $64.6 billion, including $23.3 billion in processed goods,
while imports amounted to $51.7 billion. The trade balance remained positive,
exceeding $12.9 billion. Manufacturing output increased by 5.9%,» said Serik Zhumangarin, Kazakh
Deputy Prime Minister and Minister of National Economy.
At the meeting, Prime Minister Olzhas Bektenov issued directives
to the heads of relevant ministries. In the agriculture sector, measures will
need to be introduced to stimulate local production and raw material processing.
In manufacturing, targets should focus on investment levels, deeper
localization, technology transfer, and enhancing export potential.
«This year, new production facilities have been launched, and goods previously not manufactured in the country have entered production. I instruct the Ministries of Industry and Finance, together with the Samruk-Kazyna Fund and the Antimonopoly Agency, to develop measures to exclude comparable imported goods from public procurement. This will provide additional support for domestic producers. I also instruct the Ministry of Industry, in cooperation with regional governors, to finalize the formation of a new project pool for the coming year by the end of this year,» Bektenov said.
Editing by Assem Sairan
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