Kazakhstan's GDP grew by 6.2% in the first six months of
2025 - the country’s highest economic growth rate in the past 14 years. The
figures were announced by Deputy Prime Minister and Minister of National
Economy Serik Zhumangarin at a recent government meeting. According to him, the
main drivers of growth were the real sector and services. Transportation and
construction led the way, while trade activity also increased. Growth continued
in both the mining and manufacturing industries. Investment rose by more than
19%, particularly in sectors shaping the economy of the future - such as
education, finance, and healthcare. In the first five months of 2025,
Kazakhstan’s foreign trade turnover reached $53.5 billion, with exports
totaling $30 billion.
«Grain exports from the new harvest rose by 35.2%, reaching
11.8 million tonnes of grain and flour in grain equivalent. Net grain exports
totaled nine million tonnes - the highest level in the past 13 years. The main
export destinations were Uzbekistan and Tajikistan; we have also returned to
the markets of Iran and Azerbaijan,» Zhumangarin said.
The government has outlined key areas to drive further
economic growth. These include oil refining, modernization of the metallurgical
sector, upgrades to housing and utilities infrastructure, power generation,
agriculture, and the expansion of the mineral resource base - including rare
earth metals. Significant growth potential also lies in the development of
petrochemicals, automotive manufacturing, railway engineering, and fertilizer
production. At a briefing following the government meeting, Prime Minister
Olzhas Bektenov stated that the goal set by the Head of State - to increase
Kazakhstan’s GDP to $450 billion by 2029 - is ambitious but fully achievable.
«Last year, our GDP reached $286 billion. This year, based
on current economic trends, we expect to surpass the $300 billion mark. With
sustained momentum in the coming years, the $450 billion target is well within
reach. To achieve this, significant efforts are underway to enhance the
country's industrial potential and diversify the economy. A large-scale program
launched through Baiterek Holding aims to attract an additional eight trillion
tenge in investment. Plans also include the launch of 190 industrial projects
worth 1.5 trillion tenge,» Bektenov said.
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