ASTANA – Kazakhstan's economy delivered 3% real GDP growth in the January-March period, with non-resource sectors and robust investment activity underpinning the expansion, Prime Minister Olzhas Bektenov announced at an April 14 government meeting.
The country's economic resilience amid unfavorable external conditions reflects deliberate diversification efforts, according to Deputy Minister of National Economy Azamat Amrin. Manufacturing has now claimed a 12.7% share of GDP, exceeding the contribution of mining for the second consecutive year. Meanwhile, the oil sector's weight has contracted sharply, declining to 8.1% of GDP in 2024 from 16.5% in 2010—a structural shift that underscores the administration's diversification strategy.
Sectoral breakdowns reveal the breadth of growth. Construction led all industries with 14.8% expansion, followed by transport services at 12.8% and manufacturing at 8.5%. The services sector overall grew 3.7%, while the real sector expanded 2.1%.
Foreign trade figures reinforce the momentum. Turnover for January-February reached $21.7 billion, generating a trade surplus of $2.4 billion and reflecting an 11.3% year-on-year increase. On the investment front, total fixed-asset outlays hit 3.5 trillion tenge (approximately $7.4 billion), representing 6.4% growth. Capital inflows concentrated in electricity, communications, and agriculture, with the Zhambyl, Turkistan, and Ulytau Regions leading regional attraction efforts.
Addressing the gathering, Amrin stressed that continued economic diversification remains critical to avoiding the middle-income trap and sustaining long-term growth trajectories.