About Kazakhstan and Key Financial Statistics



About Kazakhstan and Key Financial Statistics

Overview of Economy:

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. In 2002 Kazakhstan became the first country in the former Soviet Union to receive an investment-grade credit rating. Extractive industries have been and will continue to be the engine of Kazakhstan's growth, although the country is seriously pursuing diversification strategies. Kazakhstan is landlocked, with restricted access to the high seas. Although its Caspian Sea ports, pipelines, and rail lines carrying oil have been upgraded, civil aviation and roadways continue to need attention. Supply and distribution of electricity can be erratic because of regional dependencies, but the country is moving forward with plans to improve reliability of electricity and gas supply to its population. The government realizes that its economy suffers from an overreliance on oil and extractive industries. Kazakhstan has embarked on an ambitious diversification program, aimed at developing targeted sectors like transport, pharmaceuticals, telecommunications, petrochemicals and food processing. In 2010 Kazakhstan joined the Belarus-Kazakhstan-Russia Customs Union in an effort to boost foreign investment and improve trade relationships. The Customs Union evolved into the Eurasian Economic Union in January 2015. During 2014, Kazakhstan’s economy was hampered by Russia’s slowing economy, the weakening ruble, falling oil prices, and problems at its Kashagan oil field. Kazakhstan devalued its currency, the tenge, by 19% in February and in November the government announced a stimulus package to cope with the economic challenges.



Gross Domestic Product (In USD):

$420 billion (2014 est.)
$402.7 billion (2013 est.)
$379.9 billion (2012 est.)



Composition of Gross Domestic Product:


% Agricuture: 4.7

% Industry: 36

% Services: 59.3


Composition of Labor Force by Occupation:

% Agriculture: 25.8

% Industry: 11.9

% Services: 62.3


Per Capita Income:

$24,100 (2014 est.)
$23,100 (2013 est.)
$21,800 (2012 est.)



Exports:

$80.28 billion (2014 est.)
$85.6 billion (2013 est.)




Key Export Commodities:

oil and oil products, natural gas, ferrous metals, chemicals, machinery, grain, wool, meat, coal



Export Partners:

China 15.9%, Russia 12.1%, Germany 9.5%, France 8.5%, Italy 5.3%, Greece 5.3%, Romania 5% (2014)



Imports:

$43.58 billion (2014 est.)
$50.8 billion (2013 est.)



Key Import Commodities:

machinery and equipment, metal products, foodstuffs



Import Partners:

Russia 32.2%, China 29%, Germany 5% (2014)



Inflation Rate (Consumer Price Index):

6.7% (2014 est.)
5.8% (2013 est.)




Exchange Rate to USD:

tenge (KZT) per US dollar -
179.19 (2014 est.)
179.19 (2013 est.)
149.11 (2012 est.)
146.62 (2011 est.)
147.36 (2010 est.)




Unemployment Rate:

5% (2014 est.)
5.2% (2013 est.)


S&P Rating:


Standard & Poor's Ratings:

  • AAA: The best quality borrowers, reliable and stable
  • AA: Quality borrowers, a bit higher risk than AAA
  • A: Economic situation can affect finance
  • BBB: Medium class borrowers, which are satisfactory at the moment
  • BB: More prone to changes in the economy
  • B: Financial situation varies noticeably
  • CCC: An obligor rated currently vulnerable, and is dependent upon favorable business, financial, and economic conditions to meet its financial commitments.



Ref 2012-2014: CIA World Factbook, Wikipedia, PWC, EY, Standard & Poors ratings