Economic Growth in Kazakhstan
Kazakhstan's economy recorded an average real GDP growth rate of 3.0% in the decade to 2022, above the 2.5% average for Eastern Europe. In 2022, real GDP growth was 3.3%. For more GDP information, visit our dedicated page.
Kazakhstan GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Kazakhstan from 2013 to 2022.
Source: Agency of Statistics Kazakhstan.
Kazakhstan GDP Data
| 2018 | 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | 4.1 | 4.5 | -2.5 | 4.3 | 3.3 |
| GDP (USD bn) | 179 | 182 | 171 | 197 | 225 |
| GDP (EUR bn) | 152 | 162 | 149 | 166 | 214 |
| GDP (KZT bn) | 61,820 | 69,533 | 70,649 | 83,952 | 103,766 |
| Economic Growth (Nominal GDP, ann. var. %) | 13.7 | 12.5 | 1.6 | 18.8 | 23.6 |
GDP growth records slowest increase since Q4 2022 in the third quarter
According to a preliminary estimate, GDP growth lost momentum in the third quarter, falling to 4.7% year on year from 5.3% in the second quarter. Q3's reading marked the worst result since Q4 2022.
All sectors of the economy contributed similarly to growth in the first three quarters as they had in the first two. The primary drivers of growth were the wholesale and retail trade, industry, and construction sectors. A more detailed release is scheduled for 28 December.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Kazakhstani GDP projections for the next ten years from a panel of 24 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Kazakhstani GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Kazakhstani GDP projections.
Want to get access to the full dataset of Kazakhstani GDP forecasts? Send an email to info@focus-economics.com.