An Overview of the Economy
Of the world's emerging markets, Kazakhstan is perhaps the one
with the most potential. With major deposits of oil, petroleum,
natural gas, coal, iron ore, tin and gold, the country's export
trade is a strong one. Thanks to its wealth of natural resources
the country attracts high levels of FDI – over $40billion since
1993. With GDP growth of 10.6% in 2006, Kazakhstan's economy is
considered by some to be the fastest growing in the world. At the
outset of its growth and reform cycle, Kazakhstan should mature
into a prime investment destination providing that political
stability is preserved. On 19th September 2002 Kazakhstan became
the first country in the Commonwealth of Independent States to
achieve an investment grade status and "Moody's", a credit rating
agency, have since upgraded the republic by two notches to Baa3 -
the same rating as Saudi Arabia and Bahrain. Kazakhstan is, by
right, considered the leading CIS country in terms of the
environment best suited to investment.
| statistics |
|
| GDP (PPP) (IMF) (US$Billions) |
167.6 |
| GDP (PPP) (CIA) (US$Billions) |
167.6 |
| GDP Growth (IMF) (%) |
8.5% |
| GDP Growth (CIA) (%) |
8.5% |
| GDP Per Capita (PPP) (IMF) (US$) |
11,086 |
| GDP Per Capita (PPP) (CIA) (US$) |
11,100 |
| GDP by Sector (%) |
Agriculture: 5.8%
Services: 49.8%
Industry: 18% |
| Inflation (%) |
10.8% |
| Population Below the Poverty Line (%) |
13.8% |
| Labour Force (Millions) |
8.2 |
| Labour Force by Occupation (%) |
Agriculture: 32.2%
Services: 49.8%
Industry: 18% |
| Unemployment (%) |
7.3% |
| Main Industries |
Oil, coal, iron ore, manganese, chromite,
lead, zinc, copper, titanium, bauxite, gold,
silver, phosphates, sulphur, iron and steel,
agricultural machinery, electric motors,
construction materials. |
Sources: CIA World Factbook, IMF
GDP
Since 2000, Kazakhstan has enjoyed a consistently high level of
economic growth, averaging 9.5 % per annum.
| economic indicators |
2003 |
2004 |
2005 |
2006 |
2007 |
| GDP (US$Billions) |
30.8 |
43.2 |
57.1 |
81.0 |
103.8 |
| GDP Growth (%) |
9.0% |
10.0% |
10.0% |
11.0% |
8.5% |
| GDP Per Capita (US$) |
2,064 |
2,862 |
3,785 |
5,362 |
6,867 |
| GDP Per Capita (PPP) (US$) |
6,300 |
6,300 |
7,800 |
8,300 |
11,100 |
| Inflation (%) |
6.0% |
6.6% |
6.9% |
7.6% |
10.8% |
| Unemployment (%) |
8.8% |
8.8% |
8.0% |
8.0% |
7.3% |
Foreign-Exchange
& Gold Reserves (US$Billions) |
- |
5.0 |
14.4 |
7.1 |
17.4 |
| Mobile Phone Users |
400,000 |
1,027,000 |
1,027,000 |
4,955,000 |
7,830,000 |
| Internet Users |
100,000 |
250,000 |
250,000 |
400,000 |
1,247,000 |
Sources: CIA World Factbook, IMF
Major Exports & Imports
The Caspian Sea region has become a central focus point for
untapped oil and natural gas resources, and both Aktam and Atyrau
are flourishing on the back of an emerging hydrocarbon economy.
Major exports 2007
Oil and oil products, ferrous metals, chemicals, machinery,
grain, wool ,meat, coal.
Major imports 2007
Machinery and equipment, foodstuffs, metal products.
| export partners |
% of total |
| Germany |
12.4% |
| Russia |
11.6% |
| China |
10.9% |
| Italy |
10.5% |
| France |
7.6% |
| Romania |
5.0% |
| import partners |
% of total |
| Russia |
36.8% |
| China |
19.5% |
| Germany |
7.4% |
Source: CIA World Factbook
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