Economy of Kazakhstan

Kazakhstan consists of five major economic regions. The unique nature of North Kazakhstan is a special asset of this region. On its territory there is the Borovoe resort area and the Bayanaul resort area in the Pavlodar region, as well as nature reserves. Northern Kazakhstan is mainly an agro-industrial complex; it produces 15% of the country's agricultural sector. Akmola and Kostanay regions specialize in grain production and the development of livestock farming. And Akmola region is the main supplier of strong varieties of spring wheat in Kazakhstan. Northern Kazakhstan also has rich reserves of iron ore, refractory materials and reserves of aluminum and polymetallic ores.

The subsoil of East Kazakhstan is rich in minerals. Here such minerals as lead, zinc, silver, gold, copper, titanium, tantalum, magnesium, cadmium, tellurium, and other metals are mined and processed. Such deposits as Zyryanovskoye, Leninogorskoye, Nikolskoye have no equal in their reserves among the CIS countries. Eastern Kazakhstan is a large industrial center, with over a thousand medium and large industrial enterprises operating here. Large metal producers in the region are the Ust-Kamenogorsk Titanium and Magnesium Plant, the Ulba Metallurgical Plant, a branch of Vostok Kazmed, and Kazakhmys Corporation. JSC Asia-Auto produces passenger cars.

Western Kazakhstan is the largest oil and gas producing region not only in Kazakhstan, but also in the CIS. The world's largest oil and gas fields are located here - Tengiz, Karachaganak, Kashagan. The region has reserves of such raw materials as chromium, nickel, titanium, phosphorites, copper, aluminum and coal.

Central Kazakhstan is a large industrial-agrarian region of the republic. The region has developed coal, chemical industries, ferrous metallurgy, agricultural engineering, agriculture, light and food industries. The Karaganda coal basin produces 37% of hard and 100% coking coal of the republic. Karaganda Metallurgical Plant is the largest enterprise in Kazakhstan. Agriculture is developed in the northern part of Central Kazakhstan. Mainly spring wheat is grown here, as well as barley, millet, sunflower, various vegetables and potatoes.

Cattle and horses are raised. In the south, most agricultural land is used only for sheep pasture. They are bred everywhere here.

In South Kazakhstan, mechanical engineering, metalworking, woodworking, light and food industries, as well as printing industries are developed. The largest enterprises in these industries are such enterprises as: JSC "AZTM", the plants "Porshen", "Electropribor", "Etalon", "Metalist" which are located in Almaty. In Zhambyl, Kyzylorda and South Kazakhstan regions. Non-ferrous metallurgy, chemical and oil refining industries, mechanical engineering, light and food industries are developed. It is the enterprises of these industries that determine the economic profile of the region.

Today The main source of economic growth is the exploitation of the country's raw materials potential. Kazakhstan exports raw materials produced by the mining, fuel, metallurgical and chemical industries. In the structure of Kazakhstan’s exports:

•     oil and petroleum products - 35%
•     non-ferrous metals - 17%
•     ferrous metals - 16%
•     ore - 12%
•     grain crops - 9%
•     other - 11%

Import

The main imported products are machinery and equipment, means of transport, instruments and automatic machines, chemical products, mineral fuel, food products, finished products and consumer goods.

Industry of Kazakhstan

In the economy of Kazakhstan, industry is the leading sector. The share of industrial production is about 30% of the total gross domestic product. Industrial enterprises employ 20% of the total population employed in the economy of Kazakhstan. A feature of the industry of Kazakhstan is its complete provision with its own resources, which allows the development of complex diversified industrial structure.

The fuel and energy complex of Kazakhstan includes the oil, gas and coal industries, production and distribution of electricity, gas and water. The gas, electricity and water distribution industry accounts for 7,4% of Kazakhstan's total output. The production of crude oil and associated gas accounts for more than 50% of the structure of total industrial production in Kazakhstan.

The oil and gas industry predetermines the development of the republic's economy.

Agriculture in Kazakhstan today is one of the key sectors of the economy. Agriculture in Kazakhstan has enormous potential and large reserves. Today Kazakhstan uses 21.5 thousand hectares of arable land and ranks sixth in the world in terms of this indicator. The area for sowing grain crops in 2015 is planned to be placed on 15,2 million hectares, including wheat - about 12,2 million hectares, oilseed crops are planned to be placed on an area of ​​2,2 million hectares, fodder crops - on 3,7 million hectares. The country has a very high rate of agricultural production per capita. And the republic is second only to Canada in wheat production. Agriculture in Kazakhstan today includes more than 40 thousand enterprises. These are mainly small farms. With the development of farms in Kazakhstan, the number of livestock is expected to increase. Poultry farmers have achieved some success. Today there are about 38 factories: 12 “meat” and 26 “egg” factories, which produce more than 4 billion eggs annually. And this is far from the limit; the country plans to increase the number of factories that will fully meet Kazakhstan’s need for poultry meat. Since ancient times, Kazakhstan has been famous for its developed livestock farming. The main types of livestock farming in the republic are sheep and cattle breeding, as well as horse and camel breeding. In some regions, pig breeding and deer breeding are developed.

Transport of Kazakhstan. The developed transport system of Kazakhstan is dictated by vital necessity. Highways, the total length of which is over 87 thousand kilometers, play an important role in the implementation of trade relations between the republic and many countries. Kazakhstan has highways connecting it with Central Asian countries, China and Russia. As part of the large-scale international project “Western Europe - Western China”, many roads were repaired. This international road corridor is designed to connect Europe and Asia.

Air transport is the fastest and at the same time the most expensive mode of transport. High prices for air tickets in Kazakhstan are explained by the lack of load on flights. There are airports in many cities of Kazakhstan, in total there are 22 large ones, 14 of which serve international air travel.

Kazakhstan has a fairly developed railway network, built back in Soviet times. All regional centers of the country are connected by constant passenger traffic. The length of railways in Kazakhstan is over 14 thousand kilometers. International railway communications for cargo and passenger transportation pass through the territory of Kazakhstan.

Finance.

The financial system of Kazakhstan today is, in comparison with other CIS countries, the most reformed and is several years ahead of the post-Soviet countries in terms of the level of development of the financial sector. It is recognized as one of the most progressive, and this is confirmed by leading international experts.

The Republic of Kazakhstan has a two-tier banking system. The National Bank of the Republic of Kazakhstan is the central bank of the Republic of Kazakhstan and represents the upper (first) level of the banking system of the Republic of Kazakhstan. All other banks represent the lower (second) level of the banking system, with the exception of the Development Bank of Kazakhstan, which has a special legal status. The National Bank of Kazakhstan coordinates its activities with the Government of the Republic of Kazakhstan, takes into account the economic policy of the Government in its activities and facilitates its implementation, unless this contradicts performing its main functions and implementing monetary and exchange rate policies. The National Bank of Kazakhstan is accountable to the President of the Republic of Kazakhstan, but within the limits of the powers granted to it by law.