World Impact Media Report: Kazakhstan’s Economy Broadens Beyond Oil Amid Global Slowdown

Recent figures point to steadier, more diversified growth and stronger investment inflows, even as the global outlook softens

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World Impact Media Organization

July 1, 2026

10:59 am

EDT

World Impact Media Report: Kazakhstan’s Economy Broadens Beyond Oil Amid Global Slowdown / Source: World Impact Media Organization (EZ Newswire)

According to new research from the World Impact Media Organization, Kazakhstan’s economy grew 3.7% in the first five months of 2026, building on 6.5% GDP growth in 2025, according to recent figures. Taken with new international investment data, the numbers suggest growth that is becoming steadier and less dependent on any single commodity.

The figures arrive at an unsettled moment for the global economy, with trade flows shifting, markets volatile, and competition for investment intensifying. Across much of the world, growth is slowing while inflation lingers and financial conditions tighten. Against that backdrop, Kazakhstan has so far held up comparatively well.

What the latest figures show

GDP grew 6.5% in 2025 and 3.7% in the first five months of 2026, with the real sector up 4% and services up 3.6%.
Foreign direct investment reached $20.5 billion in 2025, up 14.4% year on year, with flows diversifying beyond extractive industries.
UNESCAP data show $19 billion in greenfield investment in 2025, a 266% increase and nearly 89% of all greenfield investment into Central Asia.
Capital investment rose 7% and private investment 17.4% in the first five months of 2026.
Growth is broad-based: construction up 13.4%, manufacturing up 9%, transport and warehousing up 8.4%, and trade up 5.6%.

“These figures describe a clear shift. Kazakhstan is increasingly growing on investment, manufacturing, and modern services rather than commodities alone, and it is doing so while much of the global economy slows,” said Jasmine Abdul, Chief Editor, World Impact Media Organization.

Broad-based growth across the economy

According to official national statistics, growth is spreading across the economy. Construction was among the fastest-growing industries, rising 13.4% in the first five months of the year compared with the corresponding period a year earlier. Manufacturing increased by 9%, transportation and warehousing grew by 8.4%, trade advanced by 5.6%, and agriculture (3.6%) and telecommunications (3.7%) posted steady growth. Investment appears to be the principal driver, with the strongest gains in energy infrastructure, information and communications technologies, manufacturing, agriculture, and transport.

Investment remains the principal driver of this transformation. In recent years, this process has accelerated and is often described domestically as President Kassym-Jomart Tokayev’s “investment cycle,” a term he introduced in his State of the Nation Address.

Reforms aimed at a predictable investment environment

Publicly stated government targets include doubling the economy to $450 billion by 2029 while attracting at least $150 billion in foreign investment over the same period. Recent reforms include the updated Investment Policy Concept through 2030, the Investment Headquarters mechanism for interagency coordination on investor concerns, and the National Digital Investment Platform, intended to streamline administrative procedures and increase transparency.

Investment projects exceeding a defined threshold in priority sectors may qualify for Investment Agreements that guarantee legislative stability for up to 25 years. Combined with tax incentives, customs preferences, infrastructure support, and project facilitation, these mechanisms are designed to reduce investment risk. Kazakhstan has also expanded its network of bilateral investment protection agreements with key partners, including Qatar, Singapore, China, and Saudi Arabia. The country operates 18 Special Economic Zones and 67 industrial zones, with some 586 investment projects already implemented within them. The Astana International Financial Centre (AIFC) operates under English common law and offers independent dispute resolution and access to green finance, Islamic finance, and fintech.

Diversification into industry, agriculture and energy

Over the past several years, this country has implemented a comprehensive package of reforms, promoted by President Tokayev and designed to strengthen its investment ecosystem, as reaffirmed at the 37th plenary session of the Foreign Investors’ Council. Investment in manufacturing expanded by more than 47.4% in 2025, with policy shifting toward higher value-added production, technological modernization, and export-oriented manufacturing. In agriculture, output rose 3.6% over the first five months of 2026, investment in agriculture increased by 36.4%, and investment in food manufacturing rose 2.7 times. On energy, Kazakhstan now operates a growing number of renewable energy facilities, with additional wind, solar, and hydropower projects scheduled for commissioning in 2026 alongside the modernization of conventional power plants.

Taken together, the data point to a growth model increasingly driven by investment, manufacturing, logistics, agriculture, and modern services rather than commodity exports alone, with institutional reforms supporting a more predictable business environment.

Kazakhstan has also continued expanding its network of international agreements on mutual investment protection through its multilateral foreign policy, aimed, among other things, at strengthening external economic ties. President Kassym-Jomart Tokayev has repeatedly highlighted this pattern in recent public remarks, according to The Astana Times — including a Dec. 25, 2025 statement that Kazakhstan had signed more than $70 billion in commercial agreements that year following international negotiations, and a June 2026 announcement of over $12 billion in agreements signed during his visit to Brussels. Bilateral investment protection agreements have been signed with several key partners in recent years, according to UNCTAD’s Investment Policy Hub and Kazakhstani government sources, including Singapore (2018, entered into force 2024), Qatar (2022), China (2025), and Saudi Arabia (2026) — a development that strengthens investor confidence and aligns the national legal system with international practices.

Sources

All figures in this release are drawn from official Kazakhstani statistics and independent publications. Primary sources are listed below.

About World Impact Media Organization

World Impact Media Organization is an independent international media and analysis platform covering global markets, industry, and policy developments. The organization provides fact-based reporting and neutral analytical perspectives to support informed decision-making among institutions, investors, and the public. For more information, visit worldimpactmedia.org.

Media Contact

Jasmine Abdul
Chief Editor, World Impact Media Organization
jasmine@worldimpactmedia.org