GDP will grow by 4% in 2018, mainly owing to high oil prices and expansion of production in the oil sector. In 2019-2020, the economy will continue benefiting from the favourable commodity price environment and grow by about 3% annually. The main risks to the forecast are a sharp decline in global oil prices and intensifying geopolitical tensions around Russia and China.

map Kazakhstan
Main Economic Indicators201520162017201820192020
Population, 1000 persons175431779418038...
GDP, real change in %
GDP per capita (EUR at PPP)189001860019600...
Gross industrial production, real change in %-1.6-
Unemployment rate - LFS, in %, average5.
Average gross monthly wages, EUR513377409...
Consumer prices, % p.a.6.614.
Fiscal balance in % of GDP-2.2-1.6-2.7...
Public debt in % of GDP22.725.026.3...
Current account in % of GDP-2.8-6.5-3.3-0.9-0.7-1.2
FDI inflow, EUR mn5755152734119...
Gross external debt in % of GDP84.3125.797.2...

Basic data are continuously updated.

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


KAZAKHSTAN: Further profiting from high oil prices

Olga Pindyuk
in: Strong Growth Amid Increased Negative Risks
wiiw Forecast Report No. Autumn 2018, November 2018 , 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