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Kazakhstan Economy 2012

SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES











Kazakhstan Economy 2012
SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 23,

Economy - overview:
Kazakhstan, geographically the largest of the former Soviet republics, excluding Russia, possesses enormous fossil fuel reserves and plentiful supplies of other minerals and metals, such as uranium, copper, and zinc. It also has a large agricultural sector featuring livestock and grain. In 2002 Kazakhstan became the first country in the former Soviet Union to receive an investment-grade credit rating, and from 2000 through 2007, Kazakhstan's economy grew more than 9% per year. Extractive industries, particularly hydrocarbons and mining, have been the engines of this growth. However, geographic limitations and decaying infrastructure present serious obstacles. Landlocked, with restricted access to the high seas, Kazakhstan relies on its neighbors to export its products, especially oil and gas. Although its Caspian Sea ports and rail lines carrying oil have been upgraded, civil aviation has been neglected. Telecoms are improving, but require considerable investment, as does the information technology base. Supply and distribution of electricity can be erratic. At the end of 2007, global financial markets froze up and the loss of capital inflows to Kazakhstani banks caused a credit crunch. The subsequent and sharp fall of oil and commodity prices in 2008 aggravated the economic situation, and Kazakhstan plunged into recession. While the global financial crisis took a significant toll on Kazakhstan's economy, it has rebounded well. In response to the crisis, Kazakhstan's government devalued the tenge (Kazakhstan's currency) to stabilize market pressures and injected $19 billion in economic stimulus. Rising commodity prices have helped revive Kazakhstan's economy, which registered roughly 7% growth in 2010-11. Despite solid macroeconomic indicators, the government realizes that its economy suffers from an overreliance on oil and extractive industries, the so-called "Dutch disease." In response, Kazakhstan has embarked on an ambitious diversification program, aimed at developing targeted sectors like transport, pharmaceuticals, telecommunications, petrochemicals and food processing.

GDP (purchasing power parity):
$214.5 billion (2011 est.)
country comparison to the world: 53

$201.3 billion (2010 est.)
$187.8 billion (2009 est.)
note: data are in 2011 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$180.1 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
6.5% (2011 est.)
country comparison to the world: 35

7.3% (2010 est.)
1.2% (2009 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$13,000 (2011 est.)
country comparison to the world: 92

$12,300 (2010 est.)
$11,600 (2009 est.)
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 4.6%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 34.2%
[see also: GDP - composition by sector - industry country ranks ]
services: 55.7% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
8.733 million (2011 est.)
country comparison to the world: 55
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 28.2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 18.2%
[see also: Labor force - by occupation - industry country ranks ]
services: 53.6% (2010)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
5.2% (2011 est.)
country comparison to the world: 51

5.8% (2010 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
8.2% (2009)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.8%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 25.2% (2007 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
26.7 (2009)
country comparison to the world: 131

31.5 (2003)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
22.7% of GDP (2011 est.)
country comparison to the world: 83
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $38.65 billion
[see also: Budget revenues country ranks ]
expenditures: $42.74 billion (2011 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
21.5% of GDP (2011 est.)
country comparison to the world: 145
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.3% of GDP (2011 est.)
country comparison to the world: 87
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
16% of GDP (2011 est.)
country comparison to the world: 119

15.5% of GDP (2010 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
8.3% (2011 est.)
country comparison to the world: 173

7.1% (2010 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4.25% (31 December 2010 est.)
country comparison to the world: 46

7% (31 December 2009 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
7.1% (31 December 2011 est.)
country comparison to the world: 122

8.161% (31 December 2010 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$22.65 billion (31 December 2011 est.)
country comparison to the world: 65

$21.3 billion (31 December 2010 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$77.23 billion (31 December 2011 est.)
country comparison to the world: 59

$66.23 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$74.9 billion (31 December 2011 est.)
country comparison to the world: 57

$67.2 billion (31 December 2010 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$60.74 billion (31 December 2010)
country comparison to the world: 51

$57.66 billion (31 December 2009)
$31.08 billion (31 December 2008)
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
grain (mostly spring wheat), cotton; 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:
6% (2011 est.)
country comparison to the world: 55
[see also: Industrial production growth rate country ranks ]

Electricity - production:
75.61 billion kWh (2009 est.)
country comparison to the world: 38
[see also: Electricity - production country ranks ]

Electricity - consumption:
77.9 billion kWh (2009 est.)
country comparison to the world: 37
[see also: Electricity - consumption country ranks ]

Electricity - exports:
2.483 billion kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
1.94 billion kWh (2009 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
1.61 million bbl/day (2010 est.)
country comparison to the world: 19
[see also: Oil - production country ranks ]

Oil - consumption:
249,000 bbl/day (2010 est.)
country comparison to the world: 50
[see also: Oil - consumption country ranks ]

Oil - exports:
1.501 million bbl/day (2009 est.)
country comparison to the world: 18
[see also: Oil - exports country ranks ]

Oil - imports:
172,500 bbl/day (2009 est.)
country comparison to the world: 56
[see also: Oil - imports country ranks ]

Natural gas - production:
35.61 billion cu m (2009 est.)
country comparison to the world: 25
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
8.572 billion cu m (2009 est.)
country comparison to the world: 51
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
9.9 billion cu m (2009 est.)
country comparison to the world: 21
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
6.1 billion cu m (2009 est.)
country comparison to the world: 31
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
2.407 trillion cu m (1 January 2011 est.)
country comparison to the world: 14
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
$9.117 billion (2011 est.)
country comparison to the world: 28

$4.319 billion (2010 est.)
[see also: Current account balance country ranks ]

Exports:
$65.91 billion (2011 est.)
country comparison to the world: 51

$60.84 billion (2010 est.)
[see also: Exports country ranks ]

Exports - commodities:
oil and oil products 59%, ferrous metals 19%, chemicals 5%, machinery 3%, grain, wool, meat, coal

Exports - partners:
China 20.2%, Germany 9.1%, Russia 8.5%, France 7.1%, Turkey 4.5%, Canada 4.5%, Italy 4.1% (2010)

Imports:
$32.14 billion (2011 est.)
country comparison to the world: 61

$31.96 billion (2010 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment, metal products, foodstuffs

Imports - partners:
Russia 34.3%, China 27.7%, Germany 5.2%, Ukraine 4% (2010)

Reserves of foreign exchange and gold:
$36.92 billion (31 December 2011 est.)
country comparison to the world: 45

$28.27 billion (31 December 2010 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$95.95 billion (31 December 2011 est.)
country comparison to the world: 44

$95.91 billion (31 December 2010 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$91.98 billion (31 December 2011 est.)
country comparison to the world: 40

$79.13 billion (31 December 2010 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$16.26 billion (31 December 2011 est.)
country comparison to the world: 49

$13.76 billion (31 December 2010 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
tenge (KZT) per US dollar -

145.6 (2011 est.)
147.35 (2010 est.)
147.5 (2009)
120.25 (2008)
122.55 (2007)


NOTE: 1) The information regarding Kazakhstan on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Kazakhstan Economy 2012 information contained here. All suggestions for corrections of any errors about Kazakhstan Economy 2012 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






This page was last modified 07-Mar-12
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