GDP of Kazakhstan

The main articles are:

• Economy of Kazakhstan
• GDP

2024: 4.8% GDP growth

On January 28, 2025, Prime Minister of Kazakhstan Olzhas Bektenov announced the growth of the country's economy by 4.8% in 2024 during an expanded government meeting.

According to Capital, the largest economic growth was demonstrated by the North Kazakhstan, Karaganda, Turkestan, Kyzylorda regions, as well as the cities of Astana and Shymkent. At the same time, low dynamics in the main indicators was recorded in Ulytau, Atyrau, West Kazakhstan and Zhambyl regions.

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Фото: Unsplash

Agriculture of Kazakhstan showed an increase of 13.7%, construction - by 13.1%, trade - by 9.1%, transport - by 8.5%. The agricultural and manufacturing sectors, which grew by 5.9%, recorded the most dynamic growth in the last 10 years.

In 2024, 29 large industrial facilities were commissioned in Kazakhstan. Among them are a plant for the production of cast iron casting in Kostanay region, enterprises for the production of tungsten and thermal insulation materials in Almaty region, a plant for the processing of precious metals in Shymkent, as well as the production of cathode copper, automotive tires and household appliances in Karaganda region.

At the same time, oil production decreased by 2.4 million tons due to the country's obligations under OPEC + and major field overhauls, which had a negative impact on GDP growth rates.

The investment headquarters promptly eliminated problematic issues in 115 projects with a total value of $50 billion. In the interests of the case, the investment headquarters makes decisions that make it possible to launch the projects necessary for the country in a timely manner, contrary to formal bureaucratic procedures, "said Olzhas Bektenov.

Based on problematic situations, the investment headquarters forms a package of targeted legislative changes to improve the business climate. There are 97 amendments in the works.^[1]

2022

GDP growth of 3.1%

Growth GDP Kazakhstan in 2022 reached 3.1%, said the Minister of National Economy of the Republic Alibek Kuantyrov at a government meeting on January 11, 2023.

According to the official, despite external negative factors, by the end of 2022, the economy of Kazakhstan achieved steady growth, while growth in the real sector amounted to 3.2%, in the service sector - 2.5%. He also noted a 7.8% increase in investments in fixed assets.

National money of Kazakhstan

Kuantyrov cited data on the main sectors of the economy of Kazakhstan: investments in real estate operations in 2022 increased by 15.4%, in agriculture - by 6.9%, in transport and warehousing - by 5.5%, in industry - by 5.6%, including in the mining industry - by 14.2%.

The minister emphasized the growth rate of production in mechanical engineering by 9.4%, including in the automotive industry - by 19.1% and the production of electrical equipment - by 22.2%.

In addition, production growth was recorded in the following industries: food - by 3.9%, oil refining - by 1.9%, chemical products - by 10.2%, drinks - by 11.2%, plastic products - by 2.1%, light industry - by 6%, - he said.

In the regional context, the best indicators are noted in Kyzylorda, Zhetysu, Mangistau and Almaty regions, as well as in the cities of Shymkent and Astana.^[2]

Simultaneously with the growth, there is a decrease in some indicators:

• in the mining industry, output decreased by 1%;
• in the extraction of coal and metal ores, a decrease of 0.7%;
• 1% reduction in gas production;
• oil - by 1.9%;
• other minerals - by 7.6%.

GDP size forecast - $0.19 trillion

Countries by GDP size in 2022, according to the IMF midyear forecast

2021:4% growth, leadership in economic growth after the collapse of the USSR

GDP Kazakhstan at the end of 2021, it grew by 4% compared to 2020. This was announced on February 8, 2022 by the President of the Republic Kassym-Jomart Tokayev at an expanded meeting. governments

According to him, the authorities expected the growth of the Kazakh economy by 3.7-4% at the end of 2021. In 2022, it expects its rise by 4%, said Prime Minister of the Republic Alikhan Smailov.

In 2021, the volume of foreign trade in Kazakhstan reached $82.2 billion, which exceeds the same figure in 2020 by 14.1%. Exports grew by 23.5%, reaching $49.1 billion. The positive balance of Kazakhstan amounted to $16 billion. The volume of exports of processed goods increased by more than 24%.

Kazakhstan's GDP for 2021 grew by 4%

According to the World Bank, released in 2021, Kazakhstan ranks tenth in the world in terms of the share of non-renewable natural capital (oil, gas, metals, minerals) in the country's total wealth - about 27% (for comparison, Russia has a share of resource wealth about twice as low - from this point of view, the Russian economy is more diversified).

The factors that restrain the investment growth of the Kazakh economy include a high level of corruption, imperfection and weak independence of the judicial system, the Russian Export Center states. After Nursultan Nazarbayev left the post of President of Kazakhstan, the Supreme Council for Reforms was formed in the country, but ambitious transformations did not work out during this time.

Shortly before the New Year, the minimum wage in Kazakhstan (converted into dollars) was less than $100 per month - this is even less than in Kenya or Pakistan, said Charlie Robertson, global chief economist at Renaissance Capital. The minimum wage in the country has not increased since 2018, and its increase from January 1, 2022 by 41% (to about $137) seems like a belated decision, he argues.^[3]

2020: 2.6% decline amid COVID-19 coronavirus pandemic

GDP Kazakhstan at the end of 2020, it decreased by 2.6%. The decline was less than Russia in - the Russian economy fell by 3.1% (data). Rosstat

According to the Minister of National Economy of Kazakhstan Ruslan Dalenov, in 2020 the growth of the real sector became an economic driver, amounting to 2%. For the services sector, the year ended with a minus of 5.6%, although in recent months the dynamics began to recover, he said.^[4]

According to Dalenov, almost all sectors of the real sector and certain types of services have demonstrated positive growth rates:

• construction - by 11.2%;
• information and communication - 8.6%;
• agriculture - 5.6%;
• manufacturing - 3.9%;
• education - 2.3%.

Dalenov noted that in 2020 in Kazakhstan there was a qualitative change in the structure of the economy. The share of processing in the total volume of industry increased by 9.4 percentage points - from 39.4% in 2019 to 48.8% in 2020. There is a double-digit increase in light industry, automotive industry and the production of finished metal products. The export of processed, finished goods has increased.

Kazakhstan's GDP contracted by 2.6%. The decline is less than in Russia

Thanks to the growth in production, the share of Kazakhstani goods in total consumption increased by 4.7 percentage points. 

In some processing industries, there was an acceleration in growth compared to last year:

• food production - up to 4%;
• paper products - up to 16.4%;
• pharmaceuticals - up to 47%;
• light industry - up to 15%.

The Ministry of National Economy of Kazakhstan in early March 2020 predicted GDP growth for 2020 at 4.1%, but in early April 2020, the forecast was revised. According to the updated forecast, the country's GDP in 2020 was supposed to decrease by 2.1%. 

In 2020, there was a leading growth in the manufacturing industry. The processing growth rate accelerated to 3.9%.

2019: Up 4.5%

Gross domestic product Kazakhstan up 4.5% in 2019

2016: PPP GDP $25,000 per person

2015: GDP $10,510 per person

2015-2016 were quite difficult for the economy of Kazakhstan. In 2015, there was a significant drop in the country's GDP by 16.7% compared to the previous year, which continued in 2016: -27.5%: it decreased from $184.4 billion in 2015 to $135.0 billion in 2016.

The country's GDP per capita in 2015 compared to the peak of 2013 ($13,891) decreased by 24.3% and amounted to $10,510.

See also

• Russia's GDP

Notes