Kazakhstan

Kazakhstan

Kazakh oil and gas company Kazmunaigas (KMG), Chinese Sinopec and Hungarian MOL have put into commercial operation the large Rozhkovskoye gas condensate field in the West Kazakhstan region
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Kazakhstan is set to accelerate its economic growth through a combination of Russian and Western investments, with the International Monetary Fund (IMF) predicting a 4.8% expansion by the end of 2023.
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In 2022, the automobile market of Kazakhstan continues to show growth and this is the highest result in the last 7 years.
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The economy of Kazakhstan is the largest economy in Central Asia.

Agriculture is an important sector of the country's economy. Agriculture accounted for 4.5% of Kazakhstan's GDP in 2019. In terms of grain production, Kazakhstan ranks 3rd among the former USSR countries. Wheat exports are one of the main sources of foreign exchange earnings in the country's economy.

In the north of Kazakhstan, spring wheat, oats, barley and other crops are grown, as well as sunflower, flax. The western part of the country is famous for its crops of corn, vegetables, and sunflower. In the south of Kazakhstan, cotton, sugar beet, tobacco, and rice yield high yields during irrigation. Gardening is well developed.

Animal husbandry: In Kazakhstan, sheep breeding, horse breeding, camel breeding, and cattle breeding are traditionally engaged in.

The share of industry in Kazakhstan's GDP in 2019 amounted to 27.2%. Today, over 60% of the production structure is accounted for by oil and gas production, the metallurgical industry, and electricity production.

There are rich oil fields in the country. Almost half of the total oil produced in the country is accounted for by three large fields in the Northern Caspian Sea, which makes Kazakhstan one of the world's leading countries in terms of crude oil reserves.

Kazakhstan is a world leader in uranium production.

The ferrous metallurgy of Kazakhstan produces more than 12.5% of the national volume of industrial products. Kazakhstan ranks eighth in the world in terms of iron ore reserves. Its share in global reserves is 6%.

The share of non-ferrous metallurgy in the total volume of industrial production exceeds 12%. Aluminum, lead, zinc and copper, titanium, magnesium, rare earth metals are produced.

Kazakhstan is one of the world's largest producers and exporters of refined copper. The main importers of Kazakh copper are Italy and Germany.

Kazakhstan is a major gold producer. There are over 171 gold deposits registered in the country.

Enterprises of the chemical and petrochemical industry of the republic produce plastics, chemical fibers and filaments, tires for cars and agricultural machinery, a wide range of rubber products, chrome compounds, calcium carbide, caustic soda, and other products. There is a large complex for processing phosphorous ore.

Machine-engineering products account for about 8% of the total industrial production of the republic. Kazakhstan manufactures equipment for the needs of its mining industry.

The products of the construction materials industry account for more than 4% of the total industrial production of the Republic. The enterprises of the industry produce cement, slate, asbestos cement pipes, soft roofing materials, linoleum, sanitary ware, ceramic tiles for floors and building finishes, panels and other structures for large-panel housing, kaolin for the paper industry, radiators, convectors and a number of other types of building materials and structures.

Kazakhstan's energy sector consists of three zones with weak internal links: West Kazakhstan (connected to Russia), Central and East Kazakhstan (connected to Russia), South Kazakhstan (connected to Uzbekistan and Kyrgyzstan). The Central and East Kazakhstan zone is the only non-volatile one, primarily due to the powerful coal-fired power plants of Ekibastuz. South Kazakhstan is experiencing a constant shortage of electric power, which is compensated by the North-South line and imports from hydroelectric power plants in Kyrgyzstan.

The geographical location of Kazakhstan in the center of Eurasia determines its significant transport potential in the field of transit traffic. The length of the republic's land transport highways is 106 thousand km. Of these, 13.5 thousand km are trunk railways, 87.4 thousand km are public highways with hard surfaces, and 4 thousand km are river routes.

Exactly half of Kazakhstan's exports are sent to EU countries. 11% of all exports were supplied to China. The export share supplied to the EAEU countries amounted to 11%, to the CIS countries — 7%. 21% of exports went to the rest of the world.