FX.co ★ Kazakhstan Current Account Swings to a Surplus in Q3

Kazakhstan’s current account recorded a surplus of USD 0.8 billion in the third quarter of 2026, a marked improvement from a deficit of USD 3.7 billion in the same period a year earlier, according to preliminary estimates. This reversal was mainly driven by a sharp expansion in the trade surplus, which more than doubled to USD 8.0 billion from USD 3.0 billion in Q3 2025, as exports rose by 24.1% while imports edged down by 0.8%.

The secondary income account also moved into positive territory, posting a surplus of USD 0.1 billion compared with a deficit of USD 20.5 million a year earlier. However, these gains were partly offset by a wider primary income deficit, which increased to USD 6.9 billion from USD 6.6 billion, and by a deterioration in the services balance, with the services account deficit widening to USD 0.5 billion from USD 0.1 billion.