Kazakhstan's current account has moved into surplus for the first time in three years. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.
According to the Ministry of National Economy, in the first six months of 2026, inflows to Kazakhstan's current account from abroad exceeded payments made abroad, forming a surplus of $2.4 billion. This equals 1.6% of the country's gross domestic product.
According to the ministry, at the end of 2025 the current account deficit stood at $13.1 billion. The main factor behind the improvement was export growth outpacing import growth.
What does a current account surplus mean?
The current account of the balance of payments reflects a country's external economic operations, including trade in goods and services, as well as the movement of income and current transfers. A surplus means that receipts from current operations exceed payments made abroad. This reduces the economy's need for external financing.
Balance of payments dynamics
Between 2016 and 2025, Kazakhstan's current account ran a deficit in nine out of ten years. The average deficit was around 2.7% of GDP. Although trade in goods provided a surplus every year, a significant portion of it was offset by income paid to foreign investors.
Current account figures by year were as follows:
- 012022: surplus of $6.4 billion;
- 022023: deficit of $8.3 billion;
- 032024: deficit of $6.8 billion;
- 042025: deficit of $13.1 billion.
In the first half of 2026, the current account balance improved by about $6 billion. Instead of a deficit of $3.6 billion a year earlier, a surplus of $2.4 billion was formed. The main improvement came in the second quarter. During that period, the surplus amounted to $3.2 billion.