High vulnerability to global economic cycle and external shocks
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 January 2024.
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GDP | USD220.6bn (World ranking 54, World Bank 2022) |
Population | 19.6mn (World ranking 63, World Bank 2022) |
Form of state |
Presidential Republic |
Head of state | Kassym-Jomart TOKAYEV (President) |
Next elections | 2028, Legislative |
Strengths & Weaknesses
![](/en_global/economic-research/country-reports/Kazakhstan/_jcr_content/root/parsys/wrapper/wrapper/multi_column_grid_co/grid-0-par/wrapper_copy_copy/wrapper/image.img.82.3360.png/1718711333301/plus.png)
- Abundance of raw materials (especially hydrocarbons)
- The National Fund of the Republic of Kazakhstan (NFRK, the sovereign wealth fund) holds ample assets
- Strategic location in Central Asia: benefits from China’s Belt and Road Initiative in terms of FDI and infrastructure investment
![](/en_global/economic-research/country-reports/Kazakhstan/_jcr_content/root/parsys/wrapper/wrapper/multi_column_grid_co/grid-1-par/wrapper_copy/wrapper/image.img.82.3360.png/1716971631893/minus.png)
- Authoritarian regime
- Interventionist and protectionist economic strategy
- High dependence on global commodity prices
- Exchange rate vulnerability to external shocks
- Regional instability in Central Asia
- Strategic location in Central Asia: benefits from China’s Belt and Road Initiative in terms of FDI and infrastructure investment
Economic Overview
Trade structure by destination/origin
(% of total, 2022)
Exports | Rank | Imports |
---|---|---|
Italy
16.4%
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1 |
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China
15.6%
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2 |
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Russia
10.4%
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3 |
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Netherlands
6.5%
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4 |
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Turkey
5.6%
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5 |
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Trade structure by product
(% of total, 2022)
Exports | Rank | Imports |
---|---|---|
Petroleum, petroleum products and related materials
57.6%
|
1 |
9.3%
Road vehicles
|
Non-ferrous metals
7.7%
|
2 |
6.2%
Other industrial machinery and parts
|
Iron and steel
6.5%
|
3 |
5.3%
Iron and steel
|
Metalliferous ores and metal scrap
5.9%
|
4 |
5.0%
Electrical machinery, apparatus and appliances, n.e.s.
|
Inorganic chemicals
3.8%
|
5 |
4.4%
Telecommunication and sound recording apparatus
|
Contacts
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