Kazakhstan's Economy Booms, Targets $450B GDP by 2029

Kazakhstan's economy is on fire, with a GDP of over $330 billion and a per capita income of $14,000. The country is investing heavily in new sectors and inviting international companies to participate in its transformation.

, and Administrator

2025 October 16 . 12:04 PM

1 min read

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Kazakhstan's Economy Booms, Targets $450B GDP by 2029

Kazakhstan's economy is booming. In 2025, its GDP soared to over $330 billion, accounting for 60% of Central Asia's total. This success is set against a backdrop of steady growth, with the economy expanding above 5% for three consecutive years.

The country's economic prowess is reflected in its per capita income. In 2024, it surpassed $14,000, or an impressive $44,000 in purchasing power parity terms. Kazakhstan's ambition doesn't stop there. Its medium-term goal is to reach a GDP of $450 billion by 2029.

Kazakhstan's growth is driven by new sectors. It's investing heavily in railway and automotive engineering, fertilizer production, waste processing, rare-earth minerals, and energy infrastructure. These projects alone are valued at around $100 billion over the next five years. The cumulative investment potential of high-value-added export projects in manufacturing and agriculture already exceeds $100 billion.

The government is inviting international companies to participate in this transformation. It presented its proactive economic growth policy to US investors at a business roundtable in Washington on Oct. 15. This policy aims to sustain annual growth of 5-6% through strong development institutions and large-scale financing.

Kazakhstan's economy is on a robust trajectory. With a focus on non-extractive industries, it has attracted over $400 billion in foreign direct investment over the past two decades. As it continues to grow, Kazakhstan is poised to become a major player in the global economy.