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Situated in Central Asia, Kazakhstan boasts a per capita GDP of US$11,243.7 as of 2022, driven by its robust sectors including oil, mining, coal, agriculture, and animal husbandry. Renowned for its abundant oil and mineral resources, Kazakhstan's economy thrives on these pivotal industries.
The mining sector stands tall as a cornerstone of Kazakhstan's economic landscape, yielding an output value of approximately US$54.2 billion in 2022, albeit experiencing a slight year-on-year decrease of 0.9%. This sector commands a significant share of the total industrial output value, contributing 51.1%.
Kazakhstan's manufacturing sector encompasses diverse fields such as petroleum processing, petrochemicals, textiles, building materials, household appliances, automobile manufacturing, machinery, ferrous and non-ferrous metals, as well as tobacco, alcohol, food, and pharmaceuticals. In 2022, the manufacturing output surged to around US$46 billion, marking a notable year-on-year increase of 3.6%, representing 43.4% of the total industrial output value.
Oil stands out as Kazakhstan's primary export, accounting for a staggering US$46.9 billion in export value in 2022, constituting 56% of its total exports.
As the largest landlocked nation globally, Kazakhstan's railway network serves as a vital artery for national transportation, boasting 15,000 kilometers of domestic railway operations and 31 railway ports connecting neighboring countries such as China, Russia, Uzbekistan, Kyrgyzstan, and Turkmenistan. Moreover, Kazakhstan's membership in the Eurasian Economic Union facilitates the forthcoming establishment of a unified market with a population of 170 million by 2025, ensuring the free movement of goods, services, capital, and labor.
From January to February 2024, Kazakhstan's foreign trade volume amounted to US$20.4 billion, witnessing a marginal year-on-year decrease of 2.9%. Imports totaled nearly US$8.2 billion, experiencing a decline of 7.4%, with Russia (28%) and China (25.7%) dominating the import landscape. Key imported goods include automobiles, pharmaceuticals, mobile phones, and motor vehicle components. On the other hand, exports surged to US$12.2 billion, marking a modest increase of 0.4%, with petroleum products comprising the bulk of exports.
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