The Kazakhstan economy is driven by oil, gas, and minerals, with significant global uranium production. Agriculture and manufacturing, including wheat and metals, also contribute. Economic reforms and foreign investment, particularly from China, fuel growth, but overreliance on commodities poses risks. Infrastructure development and diversification into technology are priorities, though corruption and inequality challenge progress. Strategic Eurasian location enhances trade, supporting economic stability.
Kazakhstan Economy Size
Kazakhstan’s economy, worth $200 billion, is Central Asia’s largest, with oil and mining driving its GDP, supported by growing services. See Kazakhstan GDP.
Kazakhstan Purchasing Power Parity (PPP)
Kazakhstan’s economy has a PPP GDP of $600 billion, three times its $200 billion nominal GDP, driven by low costs for oil and mining. PPP per capita is around $30,000, reflecting strong purchasing power. Domestic pricing boosts markets, but reliance on exports limits broader PPP benefits and diversification efforts.
Kazakhstan Growth Rate
The economic growth rate is 3.8% in 2024, driven by oil and mining exports. High global commodity prices and infrastructure investments support growth, but reliance on resources and corruption limit gains. Agriculture contributes modestly, while regional trade drives resilience, positioning the economy for steady progress in Central Asia.
Kazakhstan Inflation
Kazakhstan’s inflation rate is about 8% in 2024, driven by rising global food and energy prices. Strong oil exports fuel demand, while currency depreciation increases import costs. Infrastructure spending adds pressure, but tight monetary policy helps moderate inflation. Reliance on commodity exports sustains volatility in this resource-rich economy.
