Kazakhstan Profile:

Kazakhstan, officially the Republic of Kazakhstan is the world’s largest landlocked country, and the ninth largest in the world.
Kazakhstan possesses substantial fossil fuel reserves and other minerals and metals, such as uranium, copper and zinc.
Kazakhstan is a member of the United Nations, WTO, CIS, the Eurasian Economic Union, CSTO, SCO, OSCE, OIC and TURKSOY.
Kazakhstan’s global rank in the World Justice Project’s 2015 Rule of Law Index was 65 out of 102; the country scored well on “Order and Security” (global rank 32/102), and poorly on “Constraints on Government Powers” (global rank 93/102), “Open Government” (85/102) and “Fundamental Rights” (84/102).
Chevron-led Tengizchevroil announced a $36.8 billion expansion of Kazakhstan’s premiere Tengiz oil field in July 2016. Meanwhile, the super-giant Kashagan field finally launched production in October 2016 after years of delay and an estimated $55 billion in development costs.

Kazakhstan Economy:

Kazakhstan has the largest and strongest performing economy in Central Asia and its fiscal situation is stable. Kazakhstan has worked to develop its economy, especially its dominant hydrocarbon industry.
Kazakhstan’s vast hydrocarbon and mineral reserves form the backbone of its economy.
The government realizes that its economy suffers from an overreliance on oil and extractive industries and has made initial attempts to diversify its economy by targeting sectors like transport, pharmaceuticals, telecommunications, petrochemicals and food processing for greater development and investment.
The economic downturn of its EAEU partner, Russia, and the decline in global commodity prices from 2014 to 2015 contributed to an economic slowdown in Kazakhstan, which continues to experience its slowest economic growth since the financial crises of 2008-09.
Despite some positive institutional and legislative changes in the last several years, investors remain concerned about corruption, bureaucracy, and arbitrary law enforcement, especially at the regional and municipal levels

Kazakhstan Facts:

Population: 18.6 million
Capital: Astana
Largest city: Almaty
Area: 2,724,900 sq km
Major language: Kazakh (official, Qazaq) 74%, Russian (official)
Major religion: Muslim 70.2%, Christian 26.2%, other 0.2%, atheist 2.8%
Life expectancy: 65.9 years (Male), 76 years (Female)
Monetary unit: 1 Tenge (KZT) = 100 Tiyin
Main exports: Oil and oil products, natural gas, ferrous metals, chemicals, machinery, grain, wool, meat, coal
GNI per Capita: 22,970

Our Market Research Services in Kazakhstan:

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