GDP
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.
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.[1]
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
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%.
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.[2]
2020: 2.6% decline
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.[3]
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.
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 up 4.5% in 2019
2015: $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.
Mining
Uranium ore mining
2022: World No. 1 in uranium mining with 21,200 tons
Gas production
With an annual production level of 54.5 billion cubic meters in 2021, the production of marketable gas in Kazakhstan amounted to 29.4 billion m3. Internal gas consumption - 18.6 billion m3. Regulation of gas prices leads to a reduction in investment in field development. As in Uzbekistan, in the future this may lead to a shortage of gas and dependence on imports of energy resources.
For 2022, Kazakhstan and Uzbekistan are striving to comply with sanctions imposed by the United States and its allies against Russia after the start of a special operation in Ukraine, in exchange for investments in the oil and gas sector by multinational corporations.
Oil Production and Export
Main article: Oil production and export in Kazakhstan
Chromium, zinc, beryllium, rhenium, tantalum
As of 2023, Kazakhstan has the largest reserves of chromium, which is used in power and industry. The country's reserves are estimated at 230 million metric tons, while global reserves are 570 million metric tons.
Enterprises of Kazakhstan are the largest suppliers of beryllium in the United States (the volume of supplies is 43% of imports) and rhenium (27% of imports). Kazakh suppliers also provide 13% of chromium supplies, 12% of tantalum. All these elements are used in the military, aerospace and oil and gas industries.
Kazakhstan ranks fifth in the world in zinc reserves, and is also among the 20 countries with proven copper reserves. On its territory there are also reserves of cadmium and bauxite.
Oil products
2018: Low gasoline price
Power
2022: Power Generation Shortfall
Kazakhstan electric grid management company Kegoc in December 2022 announced the possibility of limiting electricity consumption by large industrial enterprises due to the lack of generation. "In December of this year, there is a significant increase in energy consumption in the UES of Kazakhstan. So, on December 7, 2022, a historical maximum of consumption in the entire history of the Kazakh energy system was recorded - 16,459 MW, while the total generation of the country's power plants was only 15,203 MW, "the message says. The deficit was covered by unscheduled flows from the power system Russia.
2020: Energy consumption per capita
and
Financial system
Main article: Financial system of Kazakhstan
Unemployment
2020: Unemployment rate - 7.8%
Incomes of the population
2023: Minimum wage - $131
Information Technology and Telecom
- Communication (Kazakhstan market)
- Development of 5G networks in Kazakhstan
- Internet regulation in Kazakhstan
- Internet of Things, IoT, M2M (Kazakhstan market)
- Smartphones (Kazakhstan market)
- IT market of Kazakhstan
- ICT market of Kazakhstan
- Digital Kazakhstan
- Smart cities in Kazakhstan
- Companies and IT projects in Kazakhstan
R&D
2020: R&D costs - $718 million
Tourism
Transport infrastructure
Foreign trade
Trade with Russia
Main article: Trade between Russia and Kazakhstan
2024: Rising imports from China at the beginning of the year
2023
The first two places in trade with Kazakhstan are shared by Russia and Kazakhstan. For more details, see Trade between Russia and Kazakhstan
The third place in the ranking of the main trading partners of Kazakhstan is occupied by Italy with an indicator of $16.1 billion and an increase of 8% on an annualized basis.
Next come South Korea and Turkey: the indicator of each of these countries is about $6 billion. At the same time, a drop in trade turnover was recorded by 1.6% and 4.8%, respectively, compared to 2022. In fifth place are the Netherlands, whose trade with Kazakhstan in 2023 decreased by 24% - to $4.4 billion.
In
| | The main markets for Kazakhstani goods are China, Russia and Italy. China has become the main trading partner of Kazakhstan, the published document says. | |
The total turnover of Kazakhstan, according to QazTrade estimates, in 2023 reached $139.8 billion, an increase of 3.2% compared to the previous year. Exports were at around $78.7 billion (minus 7% year-on-year), imports - $61.1 billion (plus 20.1%).
The study also notes that Kazakhstan has increased non-resource exports to Asian countries: China (plus 10%), Hong Kong (plus 34%), South Korea (plus 30%) and Vietnam (plus 64%). The share of Kazakhstan's exports from trade is 56.3%, and the share of processed goods in the total export volume is 32.1%. In 2023, the number of commodity markets increased - from 131 to 135 states.[4]
Record volume of imports from China
China's exports to Kazakhstan reached a new all-time high in December 2023.
7th in the world in terms of wheat exports
2022
China is the largest export destination
Growth in trade with the United States and the EU due to circumvention of sanctions against the Russian Federation
The rapid growth of trade flows USA EU with neighbors Russia may be a sign that sanctions can be avoided, the European Bank for Reconstruction and Development believes.
German exports to Russia from May to July 2022 fell 38% compared to the average for the same period in 2017-2019. However, it almost doubled to Armenia and more than tripled to Kyrgyzstan - a trend also seen in trade flows to the Caucasus and Central Asia from the US, Britain and EU countries.
Kazakhstan sharply increased coal supplies to the EU
In January-May 2022, Kazakhstan supplied 1.5 million tons of coal to the European Union - almost twice as much as in the entire 2021. The increase was against the background of sanctions on supplies from Russia.
2020
Kazakhstan - in the top ten largest exporters of wheat with an indicator of 5.2 million tons
Major Trading Partners
2018: Wheat exports
Agriculture
2023: Kazakhstan starts growing bananas in industrial volumes
The Turkish company GenGroup Qazaqstan began growing bananas in the Turkestan region of Kazakhstan. It is the country's first industrial-scale banana production. This was announced by the Ministry of Agriculture of the republic on August 14, 2023. Read more here.
2021: Share of farmland - 80%
2019: Low use of pesticides in agriculture
Potato production per capita
1. Belarus - 631.3 kg per 1 person
2. Ukraine - 487.4 kg
3. Netherlands - 384.8 kg
4. Denmark - 343.3 kg
5. Belgium - 299.2 kg
6. Latvia - 251.3 kg
7. Kyrgyzstan - 230 kg
8. Poland - 229.8 kg
9. Russia - 216.8 kg
10. Kazakhstan - 208.5 kg
Equestrian industry
Pharmaceutical Market
At the end of 2020, there was an increase in the market of ready-made medicines both in tenge and in packages.
The market leaders in sales of over-the-counter drugs were Stada, Sanofi-Aventis, Santo, Bayer, GlaxoSmithKline.
The market leaders in sales of prescription drugs were Santo, World Medicine, Nobel, Bayer, Abbott.
The lowest and highest price segments saw the highest growth in sales volumes, while the growth in sales of drugs in the middle price category was moderate.
The market growth in tenge was facilitated by the weakening of the tenge exchange rate (more than 80% of drugs on the market are imported), as well as the growth of the state order segment.
Risks are associated with pressure on profitability of sales and a fairly high level of financial debt of distributors.
Alcohol market
Minimum age to purchase alcoholic beverages
Consumption
Meat
2023: Beef is the most consumed type of meat
2022: Kazakh residents prove to be world leaders in share of food spending
Kazakhstan turned out to be the leader among European countries in terms of the share of food costs in the family budget of the population, while the least spent on food in Luxembourg. These are the results of the RIA Novosti study, published in December 2022. Read more here.
See also
- Economy of Azerbaijan
- Economy of Belarus
- Economy of Bulgaria
- UK economy
- Economy of Greece
- Economy of the European Union
- Economy of India
- Economy of Spain
- China's economy
- Economy of the Netherlands
- Russian economy
- US economy
- Economy of Ukraine
- Economy of France
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