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Kazakhstan:
Economy

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Economy - overview
Definition
Kazakhstan, the largest of the former Soviet republics in territory, excluding Russia, possesses enormous fossil fuel reserves and plentiful supplies of other minerals and metals. It also has a large agricultural sector featuring livestock and grain. Kazakhstan's industrial sector rests on the extraction and processing of these natural resources. The breakup of the USSR in December 1991 and the collapse in 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 program of economic reform and privatization quickened, resulting in a substantial shifting of assets into the private sector. Kazakhstan enjoyed double-digit growth in 2000-01 - 8% or more per year in 2002-07 - thanks largely to its booming energy sector, but also to economic reform, good harvests, and foreign investment. Inflation, however, jumped to more than 10% in 2007. In the energy sector, the opening of the Caspian Consortium pipeline in 2001, from western Kazakhstan's Tengiz oilfield to the Black Sea, substantially raised export capacity. In 2006 Kazakhstan completed the Atasu-Alashankou portion of an oil pipeline to China that is planned in future construction to extend from the country's Caspian coast eastward to the Chinese border. The country has embarked upon an industrial policy designed to diversify the economy away from overdependence on the oil sector by developing its manufacturing potential. The policy aims to reduce the influence of foreign investment and foreign personnel. The government has engaged in several disputes with foreign oil companies over the terms of production agreements; tensions continue. Upward pressure on the local currency continued in 2007 due to massive oil-related foreign-exchange inflows. Aided by strong growth and foreign exchange earnings, Kazakhstan aspires to become a regional financial center and has created a banking system comparable to those in Central Europe.
GDP (purchasing power parity)
Definition - World rank and map
$167.6 billion (2007 est.)
GDP (official exchange rate)
Definition
$103.8 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
8.5% (2007 est.)
GDP - per capita
Definition - World rank and map
$11,100 (2007 est.)
GDP - composition by sector
Definition
agriculture: 5.8%
industry: 39.4%
services: 54.8% (2007 est.)
Labor force
Definition
8.229 million (2007 est.)
Labor force - by occupation
Definition
agriculture: 32.2%
industry: 18%
services: 49.8% (2005)
Unemployment rate
Definition - World rank and map
7.3% (2007 est.)
Population below poverty line
Definition
13.8% (2007)
Household income or consumption by percentage share
Definition
lowest 10%: 3.3%
highest 10%: 26.5% (2004 est.)
Distribution of family income - Gini index
Definition - World rank and map
30.4 (2005)
Inflation rate (consumer prices)
Definition - World rank and map
10.8% (2007)
Investment (gross fixed)
Definition - World rank and map
29.7% of GDP (2007 est.)
Budget
Definition
revenues: $23.58 billion
expenditures: $25.33 billion (2007 est.)
Public debt
Definition - World rank and map
7.7% of GDP (2007 est.)
Agriculture - products
Definition
grain (mostly spring wheat), cotton; livestock
Industries
Definition
oil, coal, iron ore, manganese, chromite, lead, zinc, copper, titanium, bauxite, gold, silver, phosphates, sulfur, iron and steel; tractors and other agricultural machinery, electric motors, construction materials
Industrial production growth rate
Definition - World rank and map
4.5% (2007)
Electricity - production
Definition - World rank and map
76.34 billion kWh (2007)
Electricity - consumption
Definition - World rank and map
76.43 billion kWh (2007)
Electricity - consumption per capita
Definition - World rank and map
4,982.3 kWh (2007)
Electricity - exports
Definition
3.7 billion kWh (2007)
Electricity - imports
Definition
4 billion kWh (2007)
Oil - production
Definition - World rank and map
1.338 million bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
234,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
15.3 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
1 million bbl/day (2005 est.)
Oil - imports
Definition - World rank and map
113,600 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
9 billion bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
16.69 billion cu m (2007)
Natural gas - consumption
Definition - World rank and map
8.4 billion cu m (2007)
Natural gas - consumption per capita
Definition - World rank and map
548 cu m (2007)
Natural gas - exports
Definition - World rank and map
10.27 billion cu m (2007)
Natural gas - imports
Definition - World rank and map
3.901 billion cu m (2007)
Natural gas - proved reserves
Definition - World rank and map
1.765 trillion cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
-$6.851 billion (2007 est.)
Exports
Definition - World rank and map
$48.35 billion f.o.b. (2007 est.)
Exports - commodities
Definition
oil and oil products 59%, ferrous metals 19%, chemicals 5%, machinery 3%, grain, wool, meat, coal (2001)
Exports - partners
Definition
China 15.2%, Germany 11.7%, Russia 11.7%, Italy 7.4%, France 6.9% (2006)
Imports
Definition - World rank and map
$33.21 billion f.o.b. (2007 est.)
Imports - commodities
Definition
machinery and equipment, metal products, foodstuffs
Imports - partners
Definition
Russia 34.6%, China 22.1%, Germany 8.1% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$17.39 billion (31 December 2007 est.)
Debt - external
Definition - World rank and map
$96.37 billion (31 December 2007)
Stock of direct foreign investment - at home
Definition
$40.16 billion (2007 est.)
Stock of direct foreign investment - abroad
Definition
$3.97 billion (September 2007)
Market value of publicly traded shares
Definition
$10.52 billion (2005)
Economic aid - recipient
Definition
$229.2 million (2005)
Currency (code)
Definition
tenge (KZT)
Exchange rates
Definition
tenge per US dollar - 122.55 (2007), 126.09 (2006), 132.88 (2005), 136.04 (2004), 149.58 (2003)
Fiscal year
Definition
calendar year


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