mailing address: American Embassy Almaty, Department of State, Washington, DC 20521-7030
telephone: [7] (3272) 63-39-21, 50-76-23, 50-76-27 (emergency number)
FAX: [7] (3272) 63-38-83, 50-76-24
Flag description: sky blue background representing the endless sky and a gold sun with 32 rays soaring above a golden steppe eagle in the center; on the hoist side is a "national ornamentation" in gold
Kazakhstan Economy
Economy - overview: Kazakhstan, the second largest of the former Soviet republics in territory, possesses enormous fossil fuel reserves as well as plentiful supplies of other minerals and metals. It also is a large agricultural - livestock and grain - producer. Kazakhstan's industrial sector rests on the extraction and processing of these natural resources and also on a growing machine-building sector specializing in construction equipment, tractors, agricultural machinery, and some defense items. The breakup of the USSR in December 1991 and the collapse of demand for Kazakhstan's traditional heavy industry products resulted in a short-term contraction of the economy, 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. The Caspian Pipeline Consortium agreement to build a new pipeline from western Kazakhstan's Tengiz oil field to the Black Sea increases prospects for substantially larger oil exports in several years. Kazakhstan's economy again turned downward in 1998 with a 2% decline in GDP due to slumping oil prices and the August financial crisis in Russia. The recovery of international oil prices in 1999, combined with a well-timed tenge devaluation and a bumper grain harvest, pulled the economy out of recession in 2000. Astana has embarked upon an industrial policy designed to diversify the economy away from overdependence on the oil sector by developing light industry.
GDP: purchasing power parity - $85.6 billion (2000 est.)
GDP - real growth rate: 10.5% (2000 est.)
GDP - per capita: purchasing power parity - $5,000 (2000 est.)
GDP - composition by sector: agriculture: 10%