Kazakhstan’s economy grew by 4.8% year-on-year in January–September 2026, exceeding the Economy Minister’s initial estimate of 4.2%, but slowing from 4.9% in the first eight months of the year. According to Economy Minister Zhumangarin, the deceleration was primarily driven by an 8.3% decline in oil production over the period, reflecting the country’s heavy reliance on mineral and oil exports. Oil production began to recover in August, returning to previous levels following a July decline caused by disruptions to exports through the Caspian Pipeline Consortium. Mining and quarrying ouput continued to decline at a steady rate of 4.3%. Meanwhile, growth also slowed in construction (11.5% vs 15.6% in January-August) and transportation and storage (7.2% vs 7.3%).