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Kazakhstan Economy 2017
https://theodora.com/world_fact_book_2017/kazakhstan/kazakhstan_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Kazakhstan Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Kazakhstan, geographically the largest of the former Soviet republics, excluding Russia, possesses substantial fossil fuel reserves and other minerals and metals, such as uranium, copper, and zinc. It also has a large agricultural sector featuring livestock and grain. The government realizes that its economy suffers from an overreliance on oil and extractive industries and has embarked on an ambitious diversification program, aimed at developing targeted sectors like transport, pharmaceuticals, telecommunications, petrochemicals and food processing.Kazakhstan's vast hydrocarbon and mineral reserves form the backbone of its economy. Kazakhstan is landlocked and depends on Russia to export its oil to Europe. In 2010, Kazakhstan joined Russia and Belarus to establish a Customs Union in an effort to boost foreign investment and improve trade. The Customs Union evolved into a Single Economic Space in 2012 and the Eurasian Economic Union (EEU) in January 2015.The economic downturn of its EEU partner, Russia, and the decline in global commodity prices have contributed to an economic slowdown in Kazakhstan, which is experiencing its slowest economic growth since the financial crises of 2008-09. Kazakhstan devalued its currency, the tenge, by 19% in February 2014, and in November 2014, the government announced a stimulus package to cope with its economic challenges. In spring 2015, Kazakhstan embarked on an ambitious reform agenda to modernize its economy and improve its institutions. In the face of further decline in the ruble, oil prices, and the regional economic slowdown, Kazakhstan announced in August 2015 that it would cancel its currency band in favor of a floating exchange rate that sparked further devaluation of the tenge. In 2015, Kazakhstan's president signed into law a new Entrepreneurial Code and a new Labor Code, both aimed at improving the business environment. Despite some positive institutional and legislative changes, investors remain concerned about corruption, bureaucracy, and arbitrary law enforcement, especially at the regional and municipal levels.

GDP (purchasing power parity):
$460.7 billion (2016 est.) $464.2 billion (2015 est.) $458.9 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 43
[see also: GDP country ranks ]

GDP (official exchange rate):
$128.1 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-0.8% (2016 est.) 1.2% (2015 est.) 4.3% (2014 est.)
country comparison to the world: 202
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$25,700 (2016 est.) $26,300 (2015 est.) $26,300 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 74
[see also: GDP - per capita country ranks ]

Gross national saving:
25.9% of GDP (2016 est.) 27.2% of GDP (2015 est.) 27.7% of GDP (2014 est.)
country comparison to the world: 43
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 53.7%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 13%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 25.1%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 1.9%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 32.8%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -26.5% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 5.1%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 33%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 61.9% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
grain (mostly spring wheat and barley), potatoes, vegetables, melons; livestock

Industries:
oil, coal, iron ore, manganese, chromite, lead, zinc, copper, titanium, bauxite, gold, silver, phosphates, sulfur, uranium, iron and steel; tractors and other agricultural machinery, electric motors, construction materials

Industrial production growth rate:
1.4% (2016 est.)
country comparison to the world: 136
[see also: Industrial production growth rate country ranks ]

Labor force:
9.059 million (2016 est.)
country comparison to the world: 56
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 25.8%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 11.9%
[see also: Labor force - by occupation - industry country ranks ]
services: 62.3% (2012)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
5.7% (2016 est.) 5% (2015 est.)
country comparison to the world: 61
[see also: Unemployment rate country ranks ]

Population below poverty line:
5.3% (2011 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.9%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 23.7% (2011 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
28.9 (2011) 31.5 (2003)
country comparison to the world: 127
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $23.35 billion
[see also: Budget revenues country ranks ]
expenditures: $27.25 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
18.2% of GDP (2016 est.)
country comparison to the world: 169
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3% of GDP (2016 est.)
country comparison to the world: 106
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
24.1% of GDP (2016 est.) 24.1% of GDP (2015 est.)
country comparison to the world: 158
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
14.6% (2016 est.) 6.7% (2015 est.)
country comparison to the world: 214
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
16% (31 December 2015