Economy minister: Kazakhstan GDP rose 6.2% in Jan.-June

Economy minister: Kazakhstan GDP rose 6.2% in Jan.-June

Kazakhstan's economy has shown resilience, with its GDP rising by 6.2% in the first half of 2025, according to the country's Economy Minister. This growth is a testament to the nation's ability to navigate economic challenges, including the recent imposition of U.S. tariffs on its exports.

The U.S. has imposed a 25% reciprocal tariff on goods exported from Kazakhstan, effective August 1, 2025. This move, part of President Donald Trump's "America First" policies, has sparked concern among Kazakh officials. However, President Kassym-Jomart Tokayev has expressed readiness to engage in constructive dialogue with the White House to find a rational solution to the trade issue [1].

The trade turnover between Kazakhstan and the U.S. in 2024 amounted to $4.2 billion, which is 4% higher than in 2023. Kazakhstan's main export commodity to the U.S. is crude oil, which accounts for 56.2% of total supplies, followed by uranium at 16.4%, silver at 12.2%, ferroalloys at 9.5%, and tantalum and titanium at 0.89% [1].

Despite the tariffs, most of Kazakhstan's key exports, including oil, uranium, silver, ferroalloys, tantalum, and titanium, are exempted from the new duties. This exemption is a significant relief for the country's economy, which relies heavily on these commodities for its trade with the U.S.

The Kazakh government's response to the tariffs highlights its commitment to maintaining strong trade relations with the U.S. and finding a mutually beneficial solution. As the economy continues to grow, Kazakhstan's ability to adapt to external trade challenges will be crucial for sustained development.

References:
[1] https://www.straitstimes.com/asia/kazakhstans-leader-tells-trump-that-he-hopes-for-compromise-on-new-u.s.-tariffs