North Kazakhstan's economy surges in 2024 but faces lingering challenges
North Kazakhstan has shown strong economic growth in early 2024, with key sectors expanding rapidly. Industrial output, manufacturing, and trade all posted significant gains in the first quarter. Yet, despite this progress, agriculture and investment projects continue to face persistent challenges. The region’s short-term economic indicator reached 125% in the first three months of the year. Industrial production climbed by 36.8%, while manufacturing rose by 39.8%. Trade and transport also saw notable increases, growing by 20.8% and 17.4% respectively.
Akkayin District led with 117.2% growth, and Yesil District followed at 112%. However, other areas lagged, highlighting uneven development across the region. Over the past three years, 132.2 billion tenge was invested in transport infrastructure. Yet, delays in key projects remain a concern. The pelletized alfalfa plant, a major processing facility, has faced setbacks and is now set to open in August. The region’s livestock sector has struggled to capitalise on favourable global market trends. With global red meat consumption projected to hit 233 million tons by 2035, North Kazakhstan has an export opportunity it has yet to fully exploit. Climate change and pressure on natural resources also increase fire risks, adding to the region’s vulnerabilities.
North Kazakhstan’s economy is growing, but gaps in agriculture and investment execution remain. The region’s ability to meet rising global demand for red meat and improve project delivery will shape its future performance. Addressing these issues could strengthen resilience against climate and market pressures.
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