Kazakhstan's GDP reached $306 billion in 2025, accounting for 53.7% of Central Asia's total economic output, according to infohub.kz.
International media reports highlight that Kazakhstan forms the economic core of the region, with its economy more than double that of Uzbekistan, which ranks second with a GDP of $147.1 billion. Turkmenistan's economy is valued at $77.4 billion, Kyrgyzstan's at $21.6 billion, and Tajikistan's at $17.5 billion.
The gap is especially pronounced in per capita terms: Kazakhstan reached about $15,000, Turkmenistan $11,600, Uzbekistan $3,800, Kyrgyzstan $3,000, and Tajikistan $1,700. This disparity indicates higher productivity and greater value added per capita.
Notably, the country's economic weight is no longer solely driven by the resource sector. Trade accounts for nearly 20% of gross value added, manufacturing for about 13%, and mining for 11.9%. President Qasym-Jomart Toqaev's economic policy focuses on further developing manufacturing, digital industries, logistics, financial services, and innovation.
The real estate market also holds a significant share, with Kazakhstan outperforming its neighbors, a sign of a more developed and structurally mature domestic market.
The International Monetary Fund forecasts Kazakhstan's economy will reach $360.4 billion in 2026, ranking 49th globally. Uzbekistan is expected to rank 61st, with Turkmenistan, Kyrgyzstan, and Tajikistan lower.
Expanding manufacturing, logistics, digital services, and the financial sector will help Kazakhstan diversify growth sources and strengthen resilience to external shocks.
Kazakhstan's banking system remains the largest in Central Asia, with bank assets reaching $140 billion as of January 2026. The country's bank assets exceed Uzbekistan's by over 80% and are nearly 24 times those of Tajikistan. Kyrgyzstan's banking system holds $13.9 billion in assets.
Kazakhstan also leads the region in lending and deposits. The deposit base of Kazakh banks reached $96.4 billion at the start of 2026, nearly three times that of Uzbekistan and substantially higher than other Central Asian countries. This large deposit base provides stable funding, expands private sector lending, and supports long-term economic financing. The scale of assets, deposits, and lending solidifies Kazakhstan's status as the leading financial center in Central Asia.
For international business, Kazakhstan remains the primary entry point to Central Asia. According to the UNCTAD World Investment Report 2025, accumulated foreign direct investment (FDI) in Kazakhstan stands at $151.3 billion, or 68.6% of the region's total of $220.5 billion. By comparison, Turkmenistan holds $44.6 billion, Uzbekistan $16.7 billion, and Kyrgyzstan and Tajikistan about $4 billion each.
This concentration of capital has built up over years, driven by the local market's size, resource base, strategic transport location between Europe and Asia, financial infrastructure, and experience with major international projects. Kazakhstan's investment policy aims to further improve regulatory predictability and create conditions for long-term projects. President Toqaev has repeatedly emphasized the importance of a stable and clear business environment.
Kazakhstan ranks higher than other Central Asian countries in international indices of economic complexity and economic freedom. In the Economic Complexity Index, it ranks 55th globally, well ahead of regional peers. In the Index of Economic Freedom, it is 68th. These positions rest on the scale and structure of the economy, institutional quality, and ability to attract long-term capital. The ongoing constitutional reform is intended to improve governance and strengthen the long-term institutional foundation for development.
The meeting between President Qasym-Jomart Toqaev and Chinese President Xi Jinping on July 15 in Shanghai marked a continuation of expanding economic partnership. Bilateral trade between Kazakhstan and China reached a record $48 billion in 2025, with a target of $100 billion by 2030. Chinese direct investment in Kazakhstan amounted to about $11.4 billion by mid-2025, the largest among Central Asian countries and roughly one-third of all Chinese capital invested in the region.
Kazakhstan is central to overland freight between China and Europe, with over 85% of such cargo passing through its territory. Rail freight between the two countries reached 35.6 million tons in 2025, up 11%. Over the past seven years, Kazakhstan has allocated more than $35 billion to develop transport and transit infrastructure. Under industrial cooperation, 62 joint projects worth $8.7 billion have been completed, creating about 11,000 jobs. Another 55 projects worth $13.5 billion are under implementation, and over 220 initiatives totaling more than $60 billion are in the pipeline.