First Deputy Minister of National Economy Azamat Amrin reported at a Government meeting on the results of the country’s development for January–March 2026. According to the presented data, real GDP growth stood at 3%.

“A distinctive feature of this year is that, under the current circumstances, the economy is growing without the oil sector,” Azamat Amrin emphasized.

Growth in the real sector amounted to 2.1%, while the services sector grew by 3.7%. The highest dynamics were demonstrated by construction, transport, and manufacturing.

Investments in fixed capital increased by 6.4% to 3.5 trillion tenge. Private investment grew by 20.9%. Significant capital inflows were recorded in electricity and gas supply (2.5 times), information and communication (2 times), and agriculture (+70.6%). High investment growth was observed in Zhambyl, Turkistan, Almaty, East Kazakhstan regions, Ulytau Region, and the cities of Astana and Almaty.

Foreign trade turnover for January–February reached $21.7 billion. Goods exports amounted to $12 billion, including $4.5 billion in processed goods exports. Goods imports totaled $9.6 billion. The trade balance exceeded $2.4 billion.

In the manufacturing industry, growth accelerated to 8.5%. Positive dynamics were recorded in 18 regions. Azamat Amrin noted qualitative changes in the structure of the economy: the share of the manufacturing sector (12.7%) has for the second consecutive year exceeded the share of the mining industry. The share of the oil sector in GDP has more than halved — from 16.5% in 2010 to 8.1% in 2024.

“To ensure sustainable development, it is important to continue focusing on further economic diversification, which will allow the country to escape the middle-income trap,” the First Deputy Minister added.

In the manufacturing sector, growth was driven by mechanical engineering (+21.9%), pharmaceuticals (+46%), production of metal products (+39.3%), and construction materials (+37.1%).

The construction sector showed growth of 14.8%. 3.9 million square meters of housing were commissioned. The best results in housing commissioning were demonstrated by Abay, Ulytau, and Karaganda regions, as well as the city of Shymkent.

In the first quarter, growth in all 7 key indicators was recorded in 8 regions, including Astana, Almaty, Turkistan, and Zhambyl regions.

#Economy #Engineering #Government session #Manufacturing industry #Trade

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