In the first half of 2026, Kazakhstan’s current account ran a surplus of $2.4 billion, reversing a $3.6 billion deficit from the same period in 2025.
The improvement was driven by a 27.1% surge in exports to $48.5 billion, while goods imports rose 6.2% to $32.2 billion. Export growth was supported by high global prices for oil, uranium, metals, ore, and grain—Kazakhstan’s primary export commodities. Imports of intermediate goods grew by 13.8%, and capital goods rose by 7.9%, reflecting ongoing domestic projects and the expansion of production capacity.
Kazakhstan’s net international investment position also strengthened. Public sector external assets reached about $130.8 billion, or 39.4% of GDP, as of July 1, 2026, while public sector external debt remained low at $18.6 billion, or 5.6% of GDP. The country’s overall external debt-to-GDP ratio dropped to 56.6%, down from 119.1% in 2016.