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Kazakhstan

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Last reviewed: 27 June 2008 

Country information

ECONOMY

Basic Economic Facts (for 2007)

GDP: US $102.5bn
GDP per head: US $10,400
Annual GDP Growth: 8.7%
Inflation: 10.8%
Major Industries: Ferrous metals. Oil. Gas. Agriculture
Major trading partners: European Union (34%), Russian Federation (21%), Switzerland (13%), China (8%), USA (4%)

Kazakhstan is rich in natural mineral resources. Oil reserves in the Kazakhstani sector of the Caspian Sea alone are estimated at 8 billion tons. In 2006 Kazakhstan produced 65 million tonnes of oil and gas condensate, and has set itself the target of 150 million tonnes by 2015, which would make it a top 10 global player. In developing its oil, Kazakhstan has focused on attracting foreign, including British, companies to develop and operate huge fields, principally Tengiz, Karachaganak and the offshore Kashagan field. Overall Kazakhstan has the potential to contribute 10% of global supply growth to 2030.

In addition to oil and gas reserves, one quarter of the world's uranium deposits are thought to be in Kazakhstan, as well as large reserves of gold, silver, lead, zinc and copper. And as the ninth largest country in the world Kazakhstan has vast areas of land, some of which is suitable for large scale arable farming. (It is a major producer of wheat).

Since 1999 strong oil and other raw material prices have helped to sustain a period of economic growth. Kazakhstan is now one of the fastest growing economies in the world. GDP Growth in 2006 was 10.6 % (approx. $5,100 per capita). Oil and gas accounts for around 30% of GDP. Inflation in 2006 was 8.6%.

UK Trade & Investment Country Profile: Kazakhstan

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Contacts

Kazakhstan

Address:

Embassy of the Republic of Kazakhstan
33 Thurloe Square
London SW7 2DS

Telephone:

020 7581 4646

Fax:

020 7584 8481
020 7584 9905 (Consular)

Email: london@kazakhstan-embassy.org.uk

Office hours:

Mon-Fri: 0900-1200, 1400-1800        
Mon-Fri: 0900-1200 (Visas) (except Wed)

Website: http://www.kazembassy.org.uk