Kazakhstan’s GDP grew by 4.4% in the first 11 months of 2024, according to UKIMET. Over 70% of growth came from the non-oil sector, led by manufacturing, trade, agriculture, and construction.
Agriculture grew 13.4%, the highest since 2011. Construction rose 10.3%, trade 8.2%, and transport services 8.1%. Domestic goods output increased by 5%, and services by 4.5%. Investments in fixed assets reached KZT 15.8 trillion ($30.2 bn), up 3.1%.
Kazakhstan’s foreign trade turnover for the first ten months of 2024 totalled $116.9 bn. Exports rose by 5.1% to $68.5 bn, including a 10.2% increase in processed goods exports, which amounted to $23.3 bn. Meanwhile, imports declined by 3.3% over the reporting period.
Inflation slowed to 8.4% in November, down from 10.3% a year earlier.
