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Kazakhstan Economy 2010
http://www.workmall.com/wfb2010/kazakhstan/kazakhstan_economy.html
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES

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Page last updated on January 26, 2010

Economy - overview:
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 is primarily focused on the extraction and processing of these natural resources. Kazakhstan enjoyed double-digit growth in 2000-01 and 8% or more per year in 2002-07 - thanks largely to its booming energy sector, but also to economic reform, good harvests, and increased foreign investment; GDP growth slowed to 2.4% in 2008, and turned negative in 2009, however, as a result of declines in oil and metals prices and problems in the banking sector following the global financial crisis. In the energy sector, the opening of the Caspian Pipeline Consortium 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 changed the corporate tax code to favor domestic industry as a means 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, most recently, with regard to the Kashagan project in 2007-08. Since 2007, Astana has provided financial support to the banking sector which has been struggling with poor asset quality and large foreign loans - problems that have been amplified by the global financial crisis in 2009.

GDP (purchasing power parity):
$175.1 billion (2009 est.)

$178.3 billion (2008 est.)
$174.1 billion (2007 est.)
note: data are in 2009 US dollars

GDP (official exchange rate):
$107 billion (2009 est.)

GDP - real growth rate:
-1.8% (2009 est.)

2.4% (2008 est.)
8.5% (2007 est.)

GDP - per capita (PPP):
$11,400 (2009 est.)

$11,600 (2008 est.)
$11,400 (2007 est.)
note: data are in 2009 US dollars

GDP - composition by sector:
agriculture: 5.5%
industry: 40.5%
services: 53.9% (2009 est.)

Labor force:
8.7 million (2009 est.)

Labor force - by occupation:
agriculture: 31.5%
industry: 18.4%
services: 50% (2006)

Unemployment rate:
7.5% (2009 est.)

6.629% (2008 est.)

Population below poverty line:
13.8% (2007)

Household income or consumption by percentage share:
lowest 10%: 3.3%
highest 10%: 26.5% (2004 est.)

Distribution of family income - Gini index:
30.4 (2005)

31.5 (2003)

Investment (gross fixed):
31.9% of GDP (2009 est.)

Budget:
revenues: $26.61 billion
expenditures: $30.1 billion (2009 est.)

Public debt:
14% of GDP (2009 est.)

8.6% of GDP (2008 est.)

Inflation rate (consumer prices):
7.3% (2009 est.)

17% (2008 est.)

Central bank discount rate:
10.5% (31 December 2008)

11% (31 December 2007)

Commercial bank prime lending rate:
NA% (31 December 2008)

Stock of money:
$16.12 billion (31 December 2008)

$12.74 billion (31 December 2007)

Stock of quasi money:
$35.76 billion (31 December 2008)

$25.75 billion (31 December 2007)

Stock of domestic credit:
$44.53 billion (31 December 2008)

$43.75 billion (31 December 2007)

Market value of publicly traded shares:
$31.08 billion (31 December 2008)

$41.38 billion (31 December 2007)
$43.69 billion (31 December 2006)

Agriculture - products:
grain (mostly spring wheat), cotton; livestock

Industries:
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:
-6.6% (2009 est.)

Electricity - production:
72.41 billion kWh (2007 est.)

Electricity - consumption:
64.69 billion kWh (2007 est.)

Electricity - exports:
3.617 billion kWh (2007 est.)

Electricity - imports:
3.27 billion kWh (2007 est.)

Oil - production:
1.429 million bbl/day (2008 est.)

Oil - consumption:
239,000 bbl/day (2008 est.)

Oil - exports:
1.313 million bbl/day (2007 est.)

Oil - imports:
164,000 bbl/day (2007 est.)

Oil - proved reserves:
30 billion bbl (1 January 2009 est.)

Natural gas - production:
33.38 billion cu m (2008 est.)

Natural gas - consumption:
33.68 billion cu m (2008 est.)

Natural gas - exports:
9.221 billion cu m (2008 est.)

Natural gas - imports:
9.517 billion cu m (2008 est.)

Natural gas - proved reserves:
2.407 trillion cu m (1 January 2009 est.)

Current account balance:
$-2.59 billion (2009 est.)

$6.978 billion (2008 est.)

Exports:
$41.64 billion (2009 est.)

$71.97 billion (2008 est.)

Exports - commodities:
oil and oil products 59%, ferrous metals 19%, chemicals 5%, machinery 3%, grain, wool, meat, coal

Exports - partners:
China 13.5%, Russia 12%, Germany 10.6%, Italy 6.9%, Romania 6.6%, France 5.7%, Ukraine 5.4%, Turkey 4.1% (2008)

Imports:
$25.15 billion (2009 est.)

$38.45 billion (2008 est.)

Imports - commodities:
machinery and equipment, metal products, foodstuffs

Imports - partners:
Russia 35.9%, China 24.3%, Germany 6%, Ukraine 4.5% (2008)

Reserves of foreign exchange and gold:
$18.25 billion (31 December 2009 est.)

$19.87 billion (31 December 2008 est.)

Debt - external:
$93.21 billion (31 December 2009 est.)

$107.8 billion (31 December 2008 est.)

Stock of direct foreign investment - at home:
$63.63 billion (31 December 2009 est.)

$55.63 billion (31 December 2008 est.)

Stock of direct foreign investment - abroad:
$3.617 billion (31 December 2009 est.)

$4.617 billion (31 December 2008 est.)

Exchange rates:
tenge (KZT) per US dollar - 147.84 (2009), 120.25 (2008), 122.55 (2007), 126.09 (2006), 132.88 (2005)


NOTE: The information regarding Kazakhstan on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Kazakhstan Economy 2010 information contained here. All suggestions for corrections of any errors about Kazakhstan Economy 2010 should be addressed to the CIA.



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