The Kazakh economy has been expanding mainly on the back of the oil sector. Lack of economic diversification will limit the scale of GDP growth to about 3% per annum during 2018-2020. Households have not benefited from economic growth, as their incomes have dropped in real terms. The banking sector remains a bottleneck to economic diversification.

map Kazakhstan
Main Economic Indicators201520162017201820192020
Population, 1000 persons175441779418038...
GDP, real change in %
GDP per capita (EUR at PPP)189001860019200...
Gross industrial production, real change in %-1.6-1.17.1...
Unemployment rate - LFS, in %, average5.
Average gross monthly wages, EUR513377409...
Consumer prices, % p.a.6.614.
Fiscal balance in % of GDP-2.2-1.6-2.8...
Public debt in % of GDP22.725.026.9...
Current account in % of GDP-2.8-6.5-3.4-1.8-2.2-2.6
FDI inflow, EUR mn5755151634020...
Gross external debt in % of GDP84.3126.099.5...

Basic data are continuously updated.

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


KAZAKHSTAN: Oil sector growth benefits few

Olga Pindyuk
in: Riding the Global Growth Wave
wiiw Forecast Report No. Spring 2018, March 2018 , pp. 101-105
Details and Buy


Monthly Report No. 7-8/2017

Vasily Astrov, Rumen Dobrinsky, Vladimir Gligorov, 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. 7-8, August 2017
27 pages including 1 Table and 2 Figures