GDP growth reached 4% year on year in 2018, mainly owing to high oil prices and expansion of production in the oil sector. In 2019, the negative effect of the drop in oil prices on the economy will be somewhat offset by government stimulus measures directed primarily at stimulating private consumption. Nevertheless, economic growth will slow down to about 3% p.a. during the forecast period.

map Kazakhstan
Main Economic Indicators201620172018201920202021
Population, 1000 persons177941803818276...
GDP, real change in %
GDP per capita (EUR at PPP)184001910019800...
Gross industrial production, real change in %-
Unemployment rate - LFS, in %, average5.
Average gross monthly wages, EUR377409402...
Consumer prices, % p.a.
Fiscal balance in % of GDP-1.6-2.7-1.4...
Public debt in % of GDP25.026.326.9...
Current account in % of GDP-5.9-3.10.0-3.1-3.2-2.5
FDI inflow, EUR mn155624171176...
Gross external debt in % of GDP125.797.294.7...

Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.


KAZAKHSTAN: Falling oil prices bring economic diversification to the fore

Olga Pindyuk
in: Moving Into the Slow Lane
wiiw Forecast Report No. Spring 2019, March 2019 , pp. 92-95
Details and Buy


Monthly Report No. 6/2018

Vasily Astrov, Rumen Dobrinsky, Richard Grieveson, Doris Hanzl-Weiss, Peter Havlik, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 6, June 2018
27 pages including 1 Table and 1 Figure