In the first half of 2026, Kazakhstan's exports increased by 27.1%. This was driven by rising world prices for oil, uranium, and metals. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.
According to Finprom.kz, in January-June 2026, money inflows from abroad exceeded outflows by $2.4 billion. In the same period last year, a deficit of $3.6 billion was recorded. Thus, the indicator improved by $6 billion over the year.
"This was primarily driven by an increase in export revenues. Prices for oil and other raw materials rose on the world market, which increased income from goods Kazakhstan sells abroad," the portal wrote.
For example, in the first half of 2022, when oil prices were high, Kazakhstan's surplus in trade and financial operations with foreign countries reached $5.7 billion. In 2023, a deficit of $4.6 billion was recorded. In 2024, the deficit was $1.4 billion, and in 2025 it increased to $3.6 billion. Thus, the result for the first half of 2026 was the highest in the last four years. However, it has not yet reached the 2022 level.
Export revenues increased
In the first half of 2026, Kazakhstan sold $48.5 billion worth of goods abroad. This is 27.1% more compared to the same period last year. The volume of goods purchased from abroad grew by 6.2% to $32.3 billion.
As a result, the difference between exports and imports more than doubled, from $7.7 billion to $16.2 billion. In other words, the value of goods Kazakhstan sold abroad significantly exceeded the value of goods purchased from abroad. The increase in export revenues was driven by higher prices for oil, uranium, metals, ore, and grain.
Payments abroad are also high
Despite the growth in export revenues, Kazakhstan's payments to foreign companies and investors, as well as spending on services, remain significant. Payments in these two areas had a negative impact on the overall result, amounting to about $13.8 billion.
Kazakhstan's dependence on raw materials remains high
Overall, in the first half of 2026, Kazakhstan's foreign trade position improved. Exports grew, while imports increased at a slower pace. As a result, income flowing into the country increased.
However, Kazakhstan's export revenues still depend on prices for oil, metals, and other raw materials. If world prices for raw materials decline, the country's income may also decrease. And if the volume of goods purchased from abroad increases, the positive foreign trade indicator may decline.