In 2023, Almaty experienced a significant increase in its Gross Regional Product (GRP), reaching 24.8 trillion tenge (US$56 billion), marking a record-breaking figure in a decade, according to the city administration’s press service on May 2. This economic growth was driven by various industries, including a 17.5% increase in manufacturing, 14.5% in trade, 12.0% in financial and insurance activities, 11.3% in information and communications, 6.9% in real estate transactions, and 5.7% in transport and warehousing.
Small and medium-sized businesses played a crucial role in Almaty’s economic development, generating products worth 19.3 trillion tenge ($43.5 billion), a real increase of 15.8%. The number of actively operating business entities also increased by 16.2% compared to the previous year, reaching 340,100 by the end of 2023.
The dynamic growth of the city’s economy also had a positive impact on employment, with the unemployment rate decreasing from
