Analytics

Economy

Kazakhstan’s macroeconomics for the foreign investor

GDP grew by 6.5% in 2025, inflation remains above 10% and the base rate is 16.75%. Against a gross inflow of foreign investment of USD 20.5 billion, the net inflow turned negative for the first time since 2005. The 2026 tax rates, the currency regime and the rules on repatriating profit — with an indication of what changed on 1 January.

Updated quarterly

Regulation

State support measures and preferences: what the state actually provides

From 1 January 2026, in place of a single investment contract there are three types of agreement with the state — with different thresholds and different sets of benefits. Exemption from corporate income tax for up to 10 years, an in-kind grant of up to 30% of the investment, and special economic zone resident benefits for up to 25 years. An analysis by article of the code, not by explanatory materials.

Logistics

The Middle Corridor: transit from China through Kazakhstan to Europe

Traffic volume has grown sixfold in five years and reached 4.1–4.5 million tonnes a year, and delivery from China to Europe takes 18–23 days against 45–55 via Suez. Yet the corridor handles about 6% of the capacity of the northern route, and the Caspian is becoming shallower by 30 cm a year. Where there is an unmet shortage along the route, and what it costs.

Industry

Manufacturing and machine building: where the niches are

In 2025 the share of manufacturing in GDP exceeded the share of mining for the first time. Machinery and equipment are the country’s largest import item: 43% of inbound trade, about USD 29 billion a year. Eight niches, derived from the structure of imports, the availability of raw materials and state localisation plans.