     Kazakhstan economy overview and potential
Kazakhstan nominal Gross Domestic Product (GDP)
Kazakhstan Inflation Rate (Change in Consumer Prices)6.9% (2004) Kazakhstan Unemployment Rate8.4% (2004) Foreign direct investment (FDI) inflow in Kazakhstan
Kazakhstan Major Trading PartnersRussia, U.S., Uzbekistan, China, Turkey, U.K., Germany, Ukraine Kazakhstan Merchandise Exports$20.6 billion (2004) Kazakhstan Merchandise Imports$13.8 billion (2004) Kazakhstan Merchandise Trade Balance$6.8 billion (2004) Kazakhstan Major Exportsoil, ferrous and nonferrous metals, machinery, chemicals, grain, wool, meat, coal Kazakhstan Major Importsmachinery and parts, industrial materials, oil and gas, vehicles Kazakhstan External Debt$32.4 billion (2004), $37.5 billion (2005) Kazakhstan economy overview and brief historyThe break-up of the USSR in December 1991 and the collapse of demand for Kazakhstan's traditional heavy industry products resulted in a short-term contraction of the economy, with the steepest annual decline occurring in 1994. In 1995-97, the pace of the government programme of economic reform and privatization quickened, resulting in a substantial shifting of assets into the private sector of Kazakhstan. The Caspian Pipeline Consortium agreement to build a new pipeline from Western Kazakhstan's Tengiz oil field to the Black Sea increases prospects for substantially larger oil exports in several years. Kazakhstan economy again turned downward in 1998 with a 2% decline in GDP due to slumping oil prices and the August financial crisis in Russia. Kazakhstan oil industry
The recovery of international oil prices in 1999, combined with a well-timed tenge devaluation and a bumper grain harvest, pulled the Kazakhstan economy out of recession in 2000. The government has embarked upon an industrial policy designed to diversify the Kazakhstan economy away from over dependence on the oil sector by developing light industry. The Kazakhstan is fairly rich in minerals and raw materials. Kazakhstan is able to meet its needs for mineral resources and also to export certain volumes of various raw materials and products thereof. Kazakhstan oil money
The Kazakhstan economy workforce is estimated to be 7,4 million people. The general education and scientific level of the workforce is rather high. One worker in ten has a higher education. The Kazakhstan has got a rather great productive potential. Kazakhstan economy industry accounts for 42.2 per cent of all fixed production assets; agriculture accounts for 26.1 per cent; construction accounts for 4.5 per cent; and transport and communications account for 21.1 per cent. Kazakhstan oil money
The share of raw-material branches of Kazakhstan economy industry, integrated into the industrial and production funds, amounts to 66.7 per cent; in machine-building it amounts to 11.9 per cent; in light industry and the food-processing industry this share amounts to 3.2 and 4.5 per cent, respectively. The active part (machines, equipment, transmitting devices) accounts for 43 per cent of the total volume of fixed production assets. 90 out of the 105 elements in the periodic table occur in Kazakhstan. 70 of them have been explored and prospected, and 60 elements are now being used in manufacturing processes. Kazakhstan has got large deposits of copper, zinc, rare-earth metals, coal, iron, silver, gold, bauxite, natural gas and oil. Utilization of this potential began in Kazakhstan only in the past 60 to 70 years. |
All about Kazakhstan in 10 squares
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