Fragile stability
C3
SENSITIVE RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Updated in December 2024.
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Form of state |
Presidential Republic |
Head of state | Kassym-Jomart TOKAYEV (President) |
Next elections | 2028, Legislative |
Strengths & Weaknesses

- Kazakhstan's vast reserves of oil, gas and minerals, coupled with its position as a key regional transit hub, provide a strong foundation for economic growth and foreign direct investment.
- Diversification efforts are showing progress, with sectors such as construction, transportation, manufacturing and retail experiencing robust growth supported by domestic demand and credit expansion.
- Kazakhstan's balanced approach to international relations has helped attract foreign investments in diverse sectors, including pharmaceuticals, automobiles and renewable energy.

- Despite recent growth in non-oil sectors, the economy remains overly dependent on hydrocarbons, exposing it to vulnerabilities from global energy price fluctuations.
- Persistent industrial unrest, particularly in the energy sector, and the government’s authoritarian response to dissent, create an uncertain political and business climate that could deter investors.
- Depreciation of the tenge, coupled with reliance on sovereign fund withdrawals to bridge fiscal deficits, underscores challenges in achieving sustainable fiscal and monetary stability.
Economic Overview
Trade Structure by destination/origin
(% of total, 2023)
Trade Structure by product
(% of total, annual 2023)
Collection Complexity
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
Contacts
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