Kazakhstan is set to become the wealthiest country in the post-Soviet space in terms of GDP per capita, marking a significant advance for the Central Asian nation, which has now overtaken traditionally stronger economies.
According to new data from the International Monetary Fund (IMF), Kazakhstan’s GDP per capita, at $14,770, will surpass Russia’s $14,260 and Turkmenistan’s $13,340, as well as China’s $13,690.
Other countries in the region remain far behind, with Georgia, Armenia, and Moldova ranging between $8,000 and $9,500, while Central Asian neighbours such as Kyrgyzstan and Tajikistan remain below $3,000 and $1,500, respectively.
Favourable outlook
Earlier in the year, the IMF, together with major international financial institutions, forecast a positive economic outlook for Kazakhstan, with moderate to strong GDP growth driven by sectors such as oil production, services, and infrastructure.
However, these institutions have also advised caution, noting that the country is not immune to global economic shifts or external factors, including slowdowns in major economies, regional conflicts, and commodity price volatility.
Despite these risks, Kazakhstan is pressing ahead with major investment projects this year in transport, logistics and communication, metallurgy, and the chemical industries, which are expected to provide a further boost to GDP.
Investment wave
In July, Prime Minister Oljas Bektenov told President Kassym-Jomart Tokayev that Kazakhstan is carrying out 45 major industrial projects worth more than $4.4 billion, expected to create around 20,000 new jobs.
Bektenov also reported that water supply for farmers and other agricultural needs are being closely monitored, with water-saving technologies being introduced and regional teams coordinating the work.
The country’s agricultural, forestry, and fisheries output has grown by four per cent since the beginning of 2025, showing positive results across all regions, while preparations for the harvest season are underway.
A good year
Economic performance in the first eight months of 2025 shows steady growth across several key sectors. Agriculture expanded by 3.7 per cent, while transport and logistics saw one of the strongest increases, at more than 22 per cent.
Trade remains a key driver of growth, accounting for nearly a fifth of GDP. It grew by 8.6 per cent, with both wholesale and retail trade recording solid increases. Most trade activity was concentrated in Almaty, Astana, Shymkent, and Karaganda.
Construction also maintained momentum, with almost 9.4 million square metres of housing completed, representing a 5.2 per cent increase from last year. Government officials are urging faster progress on regional projects to keep up with national targets.
The Kazakh success
Kazakhstan’s rise is largely due to its vast reserves of oil, gas, uranium, and minerals, which continue to underpin exports. At the same time, the country has been diversifying its economy by developing industries that produce higher-value goods.
Government reforms, foreign investment, and infrastructure projects have further modernised the economy. Investments in education, healthcare, and social services have raised living standards, strengthening the domestic market.
The country’s location between Europe and Asia has made it an important trade hub. Strong macroeconomic policies, stable inflation, a resilient currency, and balanced budgets have also helped sustain growth.
[Edited By Brian Maguire | Euractiv’s Advocacy Lab ]
