Kazakhstan - Economy
How is the economy of Kazakhstan? Based on the information we have, Kazakhstan has a oil and gas giant, with growing international investment; domestic economy hit hard by COVID-19 disruptions; reforming civil society and improving business confidence; legacy state controls and Russian influence inhibit growth and autonomy. Key agricultural products in this country include: wheat, milk, barley, potatoes, watermelons, cantaloupes/melons, sunflower seeds, maize, onions, tomatoes (2023).
More about the economy of Kazakhstan
| Labor force | 10.285 million (2024 est.) |
|---|---|
| Industrial production growth rate | 6.6% (2024 est.) |
| Industries | oil, coal, iron ore, manganese, chromite, lead, zinc, copper, titanium, bauxite, gold, silver, phosphates, sulfur, uranium, iron and steel; tractors and other agricultural machinery, electric motors, construction materials |
| Population below poverty line | 5.2% (2023 est.) |
| Taxes and other revenues | 11.9% (of GDP) (2023 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | tenge (KZT) per US dollar - |
| Exchange rates 2024 | 468.962 (2024 est.) |
| Exchange rates 2023 | 456.165 (2023 est.) |
| Exchange rates 2022 | 460.165 (2022 est.) |
| Exchange rates 2021 | 425.908 (2021 est.) |
| Exchange rates 2020 | 412.953 (2020 est.) |
| Debt - external | |
| Debt - external 2023 | $25.765 billion (2023 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $45.808 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $35.965 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $35.076 billion (2022 est.) |
| Current account balance | |
| Current account balance 2024 | -$3.702 billion (2024 est.) |
| Current account balance 2023 | -$9.448 billion (2023 est.) |
| Current account balance 2022 | $6.436 billion (2022 est.) |
| Public debt | |
| Public debt 2023 | 20.9% of GDP (2023 est.) |
| Budget | |
| Revenues | $44.25 billion (2023 est.) |
| Expenditures | $47.247 billion (2023 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2024 | 0.1% of GDP (2024 est.) |
| Remittances 2023 | 0.1% of GDP (2023 est.) |
| Remittances 2022 | 0.2% of GDP (2022 est.) |
| Household income | |
| Lowest 10% | 4.3% (2021 est.) |
| Highest 10% | 24.8% (2021 est.) |
| Average household expenditures | |
| On food | 50.4% of household expenditures (2023 est.) |
| On alcohol and tobacco | 2.2% of household expenditures (2023 est.) |
| Imports | |
| Imports 2024 | $74.246 billion (2024 est.) |
| Imports 2023 | $72.723 billion (2023 est.) |
| Imports 2022 | $60.439 billion (2022 est.) |
| Imports (partners) | China 28%, Russia 24%, Gambia, The 4%, Turkey 4%, USA 4% (2023) |
| Comodities Imports force | garments, cars, broadcasting equipment, vehicle bodies, packaged medicine (2023) |
| Exports | |
| Imports 2024 | $74.246 billion (2024 est.) |
| Imports 2023 | $72.723 billion (2023 est.) |
| Imports 2022 | $60.439 billion (2022 est.) |
| Exports (partners) | China 16%, UK 15%, Russia 10%, Turkey 6%, Italy 5% (2023) |
| Comodities Exports force | crude petroleum, gold, radioactive chemicals, refined copper, copper ore (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $739.385 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $705.52 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $671.285 billion (2022 est.) |
| GDP (official exchange rate) | $288.406 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $35,900 (2024 est.) |
| Real GDP per capita 2023 | $34,700 (2023 est.) |
| Real GDP per capita 2022 | $33,500 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 3.9% (2024 est.) |
| Industry | 31.4% (2024 est.) |
| Services | 58.2% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 51.4% (2023 est.) |
| Government consumption | 11.1% (2023 est.) |
| Investment in fixed capital | 26.5% (2023 est.) |
| Investment in inventories | 3.3% (2023 est.) |
| Exports of goods and services | 34.5% (2023 est.) |
| Imports of goods and services | -27.5% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 4.8% (2024 est.) |
| Unemployment rate 2023 | 4.9% (2023 est.) |
| Unemployment rate 2022 | 4.9% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 3.8% (2024 est.) |
| Male | 3% (2024 est.) |
| Female | 4.8% (2024 est.) |
All Important Facts about Kazakhstan
Want to know more about Kazakhstan? Check all different factbooks for Kazakhstan below.
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Kazakhstan Factbook
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The Economy of Kazakhstan
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Learn about the Government of Kazakhstan
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Communication in Kazakhstan
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Popular Universities in Kazakhstan
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Enerny in Kazakhstan
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Transport in Kazakhstan
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The Geography and society of Kazakhstan
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The Environment of Kazakhstan
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Military and security in Kazakhstan