Kazakhstan is approaching six years under President Kassym-Jomart Tokayev’s leadership, a period defined by economic transformation, resilience, and strategic growth. Despite global challenges, including the COVID-19 pandemic and geopolitical tensions, the country has advanced in economic diversification, infrastructure modernization, and industrial expansion.
Economic Growth and Diversification
By the end of 2024, Kazakhstan’s GDP reached $288bn, with GDP per capita surpassing $14,000—an increase of nearly 50% since 2018. The nation is edging closer to high-income status, driven by strategic economic policies emphasizing diversification and industrial growth.
The non-oil sector has emerged as a key driver of economic expansion. Between 2019 and 2024, manufacturing output grew by 31.4%, while the construction sector nearly doubled, surging by 96.3%. In 2024 alone, 180 investment projects worth 1.3 trillion tenge were completed in the manufacturing industry, contributing to a 6% growth rate—the highest in a decade.
In 2024 alone, 180 investment projects worth KZT 1.3 trillion ($2.6bn) were implemented in the processing sector, driving nearly 6% growth—the highest rate in the past decade. Over six years, mechanical engineering production has tripled, with an average annual industrial production increase of 20.3%. The mechanical engineering sector tripled its output, with significant increases in vehicle production. Passenger car output rose from 30,000 units in 2018 to 134,000 in 2024, while truck production surged sixfold to 7,100 units.
Industrial and Agricultural Advancements
Kazakhstan has shifted from raw material exports to advanced processing industries, with major investments in petrochemicals. The launch of the KPI plant in the Atyrau region—Central Asia’s largest polypropylene production facility—exemplifies this shift.
Agriculture has seen substantial government support, with KZT 2.5 trillion ($4.9bn) allocated to subsidies over six years. This has driven a 1.8-fold increase in gross agricultural output, reaching KZT 8.3 trillion ($16.5bn). Labor productivity in the sector has doubled to KZT 4.2mn ($8,369) per person, while food production volume has grown by 2.1 times. The 2024 record grain harvest reflects the success of these initiatives.
Supporting domestic industries remains a priority, with government procurement policies favoring local producers. Goods and services in mechanical engineering, metallurgy, construction, and food production are increasingly sourced from Kazakhstani companies. Meanwhile, national development institutions are bolstering economic investment, with the Baiterek holding set to inject KZT 8 trillion ($15.9bn) in 2025, rising to KZT 10 trillion ($19.9bn) by 2027.
Foreign Investment and Trade Expansion
Foreign direct investment (FDI) continues to flow steadily into Kazakhstan, stressing investor confidence. Between 2019 and 2024, the country attracted $130bn in FDI, with $72.7bn directed toward the processing industry.
The UN has recognized Kazakhstan as the second-largest FDI recipient among landlocked nations. In 2024, Moody’s assigned Kazakhstan its highest-ever credit rating of Baa1 with a “Stable” outlook, while S&P and Fitch reaffirmed the country’s investment-grade ratings.
Trade and economic ties have expanded under President Tokayev’s leadership. Foreign trade turnover has grown from $94.8bn in 2018 to $141.4bn in 2024, with exports rising from $61.1bn to $81.6bn.
The share of processed goods in exports has nearly doubled to $28.8bn, reflecting a decline in raw material dependence—from 74.5% in 2018 to 63.5% in 2024. The export of machinery, vehicles, and equipment has surged from 1.1% to 5.8% of total exports.
Infrastructure Modernization and Energy Development
Infrastructure modernization is a central focus of government policy. Years of neglect had left Kazakhstan’s thermal power sector with aging networks, with depreciation levels reaching 65% nationally and 90% in some regions.
Since 2019, the government has reduced infrastructure wear from 71% to 61% and launched a National Project to modernize 86,000 kilometers of utility networks, introduce new generation capacities, and increase electricity generation by over 7 GW. Domestic production will be prioritized in this effort, with local enterprises expected to generate KZT 3.5 trillion ($6.9bn) in goods.
Energy demand has risen by 14% since 2019, reaching 120bn kWh, prompting renewed focus on nuclear power. The site for Kazakhstan’s first nuclear power plant has been selected, and preliminary work is underway for two additional plants.
The construction sector has witnessed unprecedented growth. In 2024, 19mn square meters of housing were commissioned—a 51.4% increase from 2018. Between 2019 and 2024, 97.8mn square meters of housing were built, improving living conditions for Kazakhstani families.
Road infrastructure has also seen major improvements. Over six years, 4,400 kilometers of national highways were reconstructed, including key routes such as Center-East, Center-South, Taldykorgan–Ust-Kamenogorsk, and Aktobe–Atyrau–Astrakhan. In 2024, 12,000 kilometers of roads were repaired, with 8,000 kilometers being national highways. Additionally, about 250 new roadside service facilities have been built, increasing compliance with national standards from 52% to 90%.
Rail and sea transportation have expanded to accommodate increased trade volumes. Major railway repairs covered over 3,000 kilometers, and the annual volume of such work increased by 41% in 2024 compared to 2019. The second Dostyk-Moiynty railway tracks are nearing completion, boosting capacity from 12 to 60 train pairs. Meanwhile, cargo turnover along the Trans-Caspian International Transport Route (TITR) has risen sixfold since 2019, reaching 4.5mn tons, and Kazakhstani product exports along this route have surged twelvefold.
Gasification and Water Supply Improvements
Gasification efforts have extended natural gas access to over 12mn citizens, with 1,700 kilometers of new gas networks completed in 2024. By early 2025, gasification coverage will reach 62% of the population.
Access to clean drinking water has improved significantly. In 2019, urban and rural water supply coverage stood at 97.2% and 86.4%, respectively; today, these figures have risen to 99.4% and 97.8%. The remaining 833 villages without access will be connected by the end of 2024 through new centralized water supply systems and block modules.
Public Safety and Social Initiatives
Public safety measures have been strengthened. The president has overseen improvements in emergency services, with modern rescue equipment increasing preparedness levels from 53% in 2019 to 64% in 2024. Crime rates have dropped by 52%, while public space incidents have declined by 60%.
Kazakhstan has taken firm steps to combat domestic violence. A new law criminalizing beatings and intentional bodily harm has been passed, strengthening protections for women and children. The "Children of Kazakhstan" program has been introduced to support the younger generation.
Social welfare has seen substantial enhancements. The minimum wage has doubled since 2019, reaching KZT 85,000 ($169), benefiting 2mn citizens. Teachers' salaries have doubled, doctors' salaries have increased annually by 30%, and social security workers have received salary increases. New benefits for large families and child care payments have been introduced.
Healthcare advancements have contributed to an increase in life expectancy from 73 to 75 years. Mortality rates have declined by 7.8%, maternal mortality by 26.3%, and infant mortality by 15.8%. Since 2019, 955 healthcare facilities have been built, including the National Scientific Oncology Center and the National Coordination Center for Emergency Medicine. The "Ansagan Sabi" program has helped over 9,000 families conceive children since 2021.
Efforts are being made to attract medical professionals to rural areas, with new incentives including one-time cash payments of KZT 8.5mn ($16,938) for those committing to at least five years of service. Housing support programs are also being developed.
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