Petroleum industry in Kazakhstan - Biblioteka.sk

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Petroleum industry in Kazakhstan
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Economy of Kazakhstan
Downtown Astana
CurrencyTenge (KZT, ₸)
calendar year
Trade organizations
WTO, CIS, EAEU, EACU, ECO, SCO, CISFTA
Country group
Statistics
PopulationIncrease 20,140,000 (2024 est.)[3]
GDP
  • Increase $297 billion (nominal, 2024 est.)[4]
  • Increase $693 billion (PPP, 2024 est.)[4]
GDP rank
GDP growth
  • 5.1% (2023)
  • 3.1% (2024)
  • 5.6% (2025)[4]
GDP per capita
  • Increase $14,778 (nominal, 2024 est.)[4]
  • Increase $34,534 (PPP, 2024 est.)[4]
GDP per capita rank
GDP by sector
8.7% (2024 est.)[4]
Population below poverty line
  • Steady 2.5% (2017)[5]
  • Positive decrease 11% on less than $6.85/day (2021)[6]
Negative increase 29.2 low (2021)[7]
Increase 39 out of 100 points (2023, 93th rank)
Labor force
  • Increase 9,262,539 (2019)[10]
  • Decrease 67.3% employment rate (2018)[11]
Labor force by occupation
Unemployment
  • Negative increase 7.8% (2020 est.)[12]
  • Steady 5% (2017 est.)[3]
Average gross salary
₸ 400,000 (US$ 895) per month
₸ 382,267 (US$ 868) per month
Main industries
oil, coal, iron ore, manganese, chromite, lead, zinc, copper, titanium, bauxite, gold, silver, phosphates, information technology, sulfur, uranium, iron and steel; tractors and other agricultural machinery, electric motors, construction materials
External
ExportsDecrease $78.7 billion (2023)[13]
Export goods
oil and oil products, natural gas, ferrous metals, chemicals, machinery, grain, wool, meat, coal
Main export partners
ImportsIncrease $61.2 billion (2023)[13]
Import goods
machinery and equipment, metal products, foodstuffs
Main import partners
FDI stock
  • Increase US$4.58 Billion (31 December 2017 est.)[3]
Increase −US$7.86 billion (2021 est.)[3]
Negative increase $190.5 billion (31 December 2020 est.)[3]
Public finances
Negative increase 26.6% of GDP (2021 est.)[3]
−4.0% (of GDP) (2021 est.)[3]
Revenues35.48 billion (2017 est.)[3]
ExpensesUS$44.2 billion (2022 est.)[3]
Increase $30.75 billion (31 December 2017 est.)[3]
All values, unless otherwise stated, are in US dollars.


The economy of Kazakhstan is the largest in Central Asia in both absolute and per capita terms. In 2021, Kazakhstan attracted more than US$370 billion of foreign investments since becoming an independent republic after the collapse of the former Soviet Union.[16]

It possesses oil reserves as well as minerals and metals. It also has considerable agricultural potential, with its vast steppe lands accommodating both livestock and grain production. The mountains in the south are important for apples and walnuts; both species grow wild there. Kazakhstan's industrial sector rests on the extraction and processing of these natural resources.[citation needed]

The Dissolution of the Soviet Union and the collapse of demand for Kazakhstan's traditional heavy industry products have resulted in a sharp decline of the economy since 1991, with the steepest annual decline occurring in 1994. In 1995–97 the pace of the government program of economic reform and privatization quickened, resulting in a substantial shifting of assets into the private sector. Kazakhstan was granted "market economy country" status by the European Union and the United States, in 2000 and 2002 respectively.[17]

The December 1996 signing of the Caspian Pipeline Consortium agreement to build a new pipeline from western Kazakhstan's Tengiz Field through Russia to the Black Sea increased prospects for substantially larger oil exports until Putin took issue with the lukewarm support he experienced in the wake of the 2022 Russian invasion of Ukraine from Kazakh President Kassym-Jomart Tokayev. Kazakhstan's economy turned downward in 1998 with a 2.5% decline in GDP growth due to slumping oil prices and the August financial crisis in Russia. A bright spot in 1999 was the recovery of international petroleum prices, which, combined with a well-timed tenge devaluation and a bumper grain harvest, pulled the economy out of recession.

GDP per capita shrank by 26% in the 1990s.[18] In the 2000s, Kazakhstan's economy grew sharply, aided by increased prices on world markets for Kazakhstan's leading exports: oil, metals and grain. GDP grew 9.6% in 2000, up from 1.7% in 1999. In 2006, extremely high GDP growth had been sustained, and grew by 10.6%.[19] Business with the booming economies of Russia and China, as well as neighboring Commonwealth of Independent States (CIS) nations have helped to propel this growth. The increased economic growth also led to a turn-around in government finances, with the budget moving from a cash deficit of 3.7% of GDP in 1999 to 0.1% surplus in 2000. The country experienced a slowdown in economic growth from 2014, sparked by falling oil prices and the effects of the Russo-Ukrainian War.[20] The country's currency was devalued by 19% in 2014 and by 22% in 2015.

In 2017, the World Economic Forum compiled its Global Competitiveness Ranking, ranking Kazakhstan 57th out of 144 countries.[21] The ranking considers multiple macroeconomic and financial factors, such as market size, GDP, tax rates, infrastructure development, etc.[22] In 2012, the World Economic Forum listed corruption as the biggest problem in doing business in the country,[23] while the World Bank listed Kazakhstan as a corruption hotspot, on a par with Angola, Bolivia, Kenya, Libya and Pakistan.[24] Kazakhstan scored 31 points out of 100 in Transparency International's 2018 edition of the Corruption Perceptions Index, indicating high levels of corruption.[25]

Cyril Muller, the World Bank Vice President for Europe and Central Asia, visited Astana in January 2017. He praised the country's progress, made during the 25-year partnership with the World Bank. Muller also talked about Kazakhstan's improved positioning in the World Bank's Doing Business Report 2017, where Kazakhstan ranked 35th out of 190 countries worldwide.[26] After 2000, the government conducted several public sector reforms and adopted the New Public Management (NPM) approach, which was aimed at reducing costs and increasing the efficiency of the public service delivery.[27]

Kazakhstan secured the 3rd position in the Central and South Asia regional ranking of the 2018 Global Innovation Index (GII) released by World Intellectual Property Organization.[28]

The main producer of cotton pulp in Kazakhstan is Khlopkoprom. Judging by a number of transactions, its products have been supplied to gunpowder manufacturers in the Russian Federation since 2022. Most of the factories that imported pulp from Kazakhstan for the manufacture of explosives are under US and Ukrainian sanctions. According to OCCRP, Vlast, and iStories, a significant increase in Kazakhstan's exports of cotton pulp and derivatives to the Russian Federation after February 24, 2022, was identified. Exported components are key in the manufacture of explosives and gunpowder. There are contracts for the supply of raw materials to the Kazan Gunpowder Plant from Kazakhstan until 2026, and to the Aleksinsky Chemical Plant (which also produces gunpowder) until 2024.[29][30]

Macro-economic trend

GDP per capita development, since 1973

In the 2014 Economic Freedom Index published by The Heritage Foundation in Washington, DC, Kazakhstan has gained 22 points over the past 17 years, which is noted by the authors as among the 20 best improvements recorded by any country.[31] Kazakhstan's economic freedom score is 69.1, equalling "moderately free". Its overall score has increased by 0.1 point, with significant improvements in investment freedom and government integrity offsetting steep declines in fiscal health and monetary freedom. Kazakhstan is ranked 11th among 43 countries in the Asia–Pacific region, and its overall score is above the regional and world averages.[31]

This chart shows trends in the gross domestic product of Kazakhstan at market prices estimated by the International Monetary Fund, with figures in millions of tenge.[32]

Year Gross Domestic Product (millions ₸) US$ Exchange Rate Inflation Index
(2000=100)
Per Capita Income
(as % of USA)
1995 78,014,200 T 61.11 64 3.81
2000 102,599,902 T 142.26 100 3.53
2005 147,453,000 T 132.88 140 9.01
2017 159,406,930 ₸344.18

The following table shows the main economic indicators in 1980–2023. Inflation under 5% is in green.[33]

Year GDP
(in bn. US$ PPP)
GDP per capita
(in US$ PPP)
GDP

(in bn. US$ nominal)

GDP growth
(real)
Inflation rate
(in Percent)
Unemployment
(in Percent)
Government debt
(in % of GDP)
1992 120.2 7,052 2.9 n/a n/a n/a n/a
1993 Decrease111.8 Decrease6,613 Increase5.2 Decrease−9.2% Negative increase1,662.3% n/a n/a
1994 Decrease99.8 Decrease6,315 Increase11.9 Decrease−12.6% Positive decrease1,402.0% 10.1% n/a
1995 Decrease93.5 Decrease5,966 Increase16.6 Decrease−8.2% Positive decrease176.3% Negative increase11.0% n/a
1996 Increase95.7 Increase6,183 Increase21.0 Increase0.5% Positive decrease39.1% Negative increase13.0% n/a
1997 Increase99.0 Increase6,519 Increase22.2 Increase1.7% Positive decrease17.4% Steady13.0% n/a
1998 Decrease98.2 Increase6,568 Decrease22.1 Decrease−1.9% Positive decrease7.3% Negative increase13.1% n/a
1999 Increase102.3 Increase6,865 Decrease16.9 Increase2.7% Negative increase8.4% Negative increase13.5% n/a
2000 Increase114.9 Increase7,727 Increase18.3 Increase9.8% Negative increase13.3% Negative increase12.8% n/a
2001 Increase133.3 Increase8,977 Increase22.2 Increase13.5% Positive decrease8.4% Positive decrease10.4% n/a
2002 Increase148.7 Increase9,999 Increase24.6 Increase9.8% Positive decrease5.9% Positive decrease9.3% 17.6%
2003 Increase165.7 Increase11,082 Increase30.8 Increase9.3% Negative increase6.5% Positive decrease8.8% Positive decrease15.0%
2004 Increase186.5 Increase12,370 Increase43.2 Increase9.6% Negative increase6.9% Positive decrease8.4% Positive decrease11.4%
2005 Increase211.0 Increase13,862 Increase57.1 Increase9.7% Negative increase7.5% Positive decrease8.1% Positive decrease8.1%
2006 Increase240.8 Increase15,637 Increase81.0 Increase10.7% Negative increase8.6% Positive decrease7.8% Positive decrease6.7%
2007 Increase269.3 Increase17,293 Increase104.9 Increase8.9% Negative increase10.8% Positive decrease7.3% Positive decrease5.9%
2008 Increase283.5 Increase17,737 Increase133.4 Increase3.3% Negative increase17.1% Positive decrease6.6% Negative increase6.8%
2009 Increase288.7 Increase17,819 Decrease115.3 Zdroj:https://en.wikipedia.org?pojem=Petroleum_industry_in_Kazakhstan
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