Kazakhstan trade surplus narrows to near zero in Jan-Apr 2026
This digest was compiled by AI from multiple sources — links to the originals are below.
Kazakhstan's trade surplus shrank to $0.1 billion in January-April 2026, down from $5.4 billion a year earlier, as imports surged 20% while exports fell 6%. The narrowing surplus reflects a sharp rise in machinery and equipment imports amid state infrastructure spending.
Trade Balance Collapse
Kazakhstan's trade surplus nearly vanished in the first four months of 2026, falling to just $0.1 billion from $5.4 billion in the same period of 2025, according to the Bureau of National Statistics. Exports totaled $20.5 billion, down 6% year-on-year, while imports rose 20% to $20.4 billion. The surplus was $0.1 billion in April alone, compared to $1.2 billion in April 2025.
Import Surge Drivers
Machinery and equipment imports jumped 32% to $6.8 billion, driven by state infrastructure projects and industrial modernization. Chemical imports rose 15% to $2.5 billion, while food imports increased 12% to $1.6 billion. The growth in imports outpaced export gains across all major categories.
Export Performance
Oil and gas condensate exports, Kazakhstan's main export, fell 8% to $12.1 billion due to lower global prices and production constraints. Metals exports declined 5% to $3.2 billion, while uranium exports rose 3% to $1.1 billion. Non-commodity exports remained flat at $4.1 billion.
European Investment Surge in Kazakhstan
European investors are increasingly directing capital to Kazakhstan as they seek alternatives to Russia, according to a Euronews report. The country leads Central Asia in attracting foreign investment, with billions flowing in from European companies. This trend is reshaping Kazakhstan's economy, though the report does not specify exact figures or sectors.
What's Next
The government expects the trade balance to remain under pressure as import growth continues through 2026, driven by infrastructure spending. It remains unclear whether higher oil prices or export diversification can offset the widening import bill.
2 sources
Kazakhstan trade surplus narrows to near zero in Jan-Apr 2026
