Investment in fixed capital in Kazakhstan exceeded 9.5 trillion tenge in the first half of 2026, while private investment increased by 21.4 percent, according to a government review on the implementation of the president's directives to modernize the country's economic model, Qazinform News Agency reports.
The Government said it is continuing efforts to maintain macroeconomic stability, improve the business climate, and attract investment. Priority is being given to launching a new investment cycle, fostering fair competition, and establishing a predictable fiscal and tax policy.
According to the review, economic growth is being driven by the strong performance of the real sector, production diversification, and the expansion of the country's transport capacity. The Government also highlighted measures to meet social obligations through higher benefit payments, expand local sports infrastructure, and support domestic producers by providing guaranteed demand through long-term contracts.
The review identified fixed capital investment as the main driver of macroeconomic stability. Total capital investment rose 9.6 percent during the first six months of the year, while private capital accounted for 87 percent of total investment. The strongest growth in investment was recorded in the information and communications sector, where investment increased 2.3-fold compared with the same period last year.
Significant gains were also seen in construction, where investment rose 38.7 percent, manufacturing (33.3 percent), agriculture (24.6 percent), and transport (11.6 percent). The Government also reported that Kazakhstan's gross domestic product (GDP) expanded 4.1 percent in the first half of 2026, supported by sustained growth in the non-oil sector.
Output in the real sector increased 5.1 percent, while the services sector grew 3.5 percent. Construction posted the strongest growth among major industries, expanding 15.2 percent year over year. Manufacturing grew 9.8 percent, while transport services increased 7.1 percent.
Positive growth was also recorded in trade (5.7 percent), telecommunications services (4.3 percent), and agriculture (4.4 percent). Together, these sectors accounted for approximately 85 percent of the country's overall GDP growth. The Government also highlighted upward trends in social indicators.
After declining last year, real household incomes rose 0.1 percent in the first quarter of 2026. Officials attributed the stabilization in part to slower annual inflation, which eased to 10.3 percent in June. To reinforce the trend, the Government has adopted a comprehensive income growth plan focused on creating high-productivity jobs.
Domestic trade also maintained strong momentum. Trade turnover increased 15.3 percent in the first half of the year to 36.2 trillion tenge, with wholesale trade rising 6.6 percent and retail trade up 3.8 percent. Between January and May, Kazakhstan's total foreign trade turnover reached 56.3 billion US dollars.
Imports amounted to 26 billion US dollars, leaving the country with a positive trade balance of more than 4.4 billion US dollars. Meanwhile, non-resource exports of goods and services increased 14.6 percent in the first half of the year to 14.9 billion US dollars.