FX.co ★ Kazakhstan Industrial Output Hits 8-Month Low

Kazakhstan experienced a notable deceleration in its industrial production growth, which increased by 5.2% year-on-year in September 2025. This represents a significant slowdown from the impressive 12.8% growth seen the previous month—an eight-year high. The current figure is the smallest expansion in industrial activity since January, primarily due to reduced growth rates in several sectors. Specifically, the output in mining and quarrying increased by 6.8%, down from 17.5% in August. Manufacturing saw a rise of 4.1%, compared to the previous 9.3%, and the electricity, gas, steam, hot water, and air conditioning supply sector increased by 3%, as opposed to 3.4% the month before. Meanwhile, water supply, waste management, and pollution control sectors experienced a sharper decline, decreasing by 1.6% compared to a 0.5% drop in August. On a month-to-month basis, industrial output decreased by 2.9% in September, overturning the 3.8% gain reported in August. Taking a broader perspective from January to September, industrial production increased by 7.4% compared to the same period in the previous year.