Kazakhstan's fixed capital investment showed robust expansion in the first quarter of 2026, with total disbursements reaching 3.46 trillion tenge and the physical volume index posting a 6.4% year-on-year increase, according to data from the Bureau of National Statistics.
The growth trajectory was driven primarily by the non-resource sector, where investment flows excluding budget allocations climbed to 2.31 trillion tenge—a substantial year-on-year increase of 128.1%. This performance underscores Kazakhstan's ongoing diversification push, with industrial capacity upgrades attracting heightened capital commitment. Spending on machinery, equipment, and transport surged to 1.3 trillion tenge, reflecting a 43.1% uplift in physical volume terms.
Industrial Allocation and Sector Breakdown
Industry remained the principal recipient of capital, drawing 1.5 trillion tenge in aggregate investment. Mining operations secured 564.8 billion tenge, while manufacturing enterprises attracted 502.6 billion tenge. Energy sector investments totaled 360 billion tenge, reflecting continued capacity expansion across Kazakhstan's power generation and transmission infrastructure.
Real estate activities received 714.4 billion tenge, with housing construction accounting for 662.6 billion tenge of that figure. Transport and storage logistics absorbed 468.5 billion tenge, pointing to sustained investment in freight corridors and distribution networks.
Regional Investment Disparities
Astana led all regions with 413.7 billion tenge in recorded investment, followed closely by Almaty at 373.6 billion tenge. Turkistan region posted 354.2 billion tenge, while Atyrau region contributed 300.9 billion tenge. Zhambyl region rounded out the top tier with 218.1 billion tenge.
Regional growth rates showed considerable variance. Zhambyl region recorded the sharpest expansion at 171.6%, with Turkistan region close behind at 171.2% and Ulytau region at 166.0%. By contrast, Kostanay region contracted sharply to 55.0% of prior-year levels, while Zhetysu region and Shymkent both saw declines to 69.6% and 67.4% respectively.
The nationwide average investment per capita stood at 168,800 tenge, with construction and capital repair activity registering a physical volume decline to 90.9% year-on-year, totaling 1.99 trillion tenge.