Kazakhstan's Export of Processed Goods Rises Over 10% in 2024, Driving Economic Growth

Kazakhstan's export of processed goods increased by 10.2%, reaching $23.3 billion from January to November 2024, thanks to measures supporting domestic producers and encouraging deep processing, Prime Minister Olzhas Bektenov announced during a meeting with President Kassym-Jomart Tokayev on December 17, The Caspian Post reports, citing Akorda.

Imports declined by 3.3%, while investments in fixed capital rose by 3.1%, with non-oil industries seeing the largest increase.

The country’s GDP grew by 4.4%, driven by diversification efforts across several sectors. Agriculture (13.4%), construction (10.3%), trade (8.2%), transport (8.1%), and manufacturing (5.3%) all contributed to the sustained growth.

Key industries such as metallurgy, mechanical engineering, chemicals, and information and communications also saw significant gains.

The non-oil sector was the main contributor to this year's economic growth, accounting for a 5.1% increase.