Indicators of economy in Kazakhstan

Impact of the COVID-19 pandemic

The consequences of the COVID pandemic were not insignificant in Kazakhstan 2020. Overall, gross domestic product in 2020 fell from 181.67 billion US dollars to 171.08 billion US dollars. With a drop of 5.8 percent, the economy in Kazakhstan suffered more significant losses than other countries. The tourism sector alone slumped by around 80 percent. The unemployment rate rose from 4.8 to 4.9 percent. The country's gross debt increased by 22.0 percent. The consumer inflation rate has risen from 5.2 percent previously to 6.8 percent now.

In 2021, there was already a recovery and the gross domestic product increased to 197.11 billion US dollars (=108.5% of 2019).

Income and purchasing power

The average monthly income in Kazakhstan is 740 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. However, the prices of consumer goods are also around 68.3 percent lower than in the USA. If you compare income and price levels, the result is a more expensive life in Kazakhstan than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 60.6 percent less.

However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2022

Economic performance 2021

In the Global Innovation Index, Kazakhstan ranked 83rd in 2022 with 24.7 points. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The top country was Switzerland with 64.6 points. The two largest listed companies in Kazakhstan are Halyk Bank with a market capitalization of 2.97 billion dollars and Kaspi.kz JSC with 13.11 billion dollars. They are the only companies nationwide to be included in the list of Forbes Global 2000 in 2022. This independent list publishes the 2000 largest companies worldwide annually. Halyk Bank was ranked 1524th by Forbes and Kaspi.kz JSC was ranked 1608th.

Development of gross domestic product in billions of USD 1990 - 2021

Household debt and deficits 2021

Imports and Exports 2021

Development of imports and exports in billions of USD 1995 - 2021