Kazakhstan Posts 4.2% Growth as Oil Output Falls 8.3% Year Over Year

Kazakhstan’s economy grew 4.2% in the first nine months of 2026, Deputy Prime Minister and National Economy Minister Serik Zhumangarin said at an Oct. 13 government meeting in Astana, as declining oil output contrasted with stronger non-resource activity.

Oil production fell 8.3% year over year to 69.4 million metric tons. The non-resource sector expanded 5.4% over the period.

Construction grew 11.5%, manufacturing rose 8.6%, transport services increased 7.2% and trade advanced 6.2%. Prime Minister Olzhas Bektenov said industries outside the resource sector were driving domestic growth.

Annual inflation eased to 9.3% in September from 9.8% in August, while consumer prices rose 0.6% month over month. On Sept. 4, the Monetary Policy Committee of the National Bank of Kazakhstan reduced its base rate by 0.5 percentage point, to 16.25%.