Economic policy of Kazakhstan on the modern stage
Date: 2015-10-07; view: 415.
GDP Structure (Statistics Agency data)
Last year, gross domestic product volume (GDP) was USD 186,199,487,000 in current prices. This is a 7.5% increase compared with 2010. In GDP makeup, the production of commodities share is 43.2%, services – 51.8%. Thus, last year the production of commodities resulted in USD 80, 403, 710,000, agriculture, hunting and forestry, fish farming – USD 9,605 billion, industry – USD 58.442 billion, construction – USD 12,356,568,000, tertiary industries – USD 96,530,123,000, and net taxes on products and imports – USD 12,996,823,000.
Kazakhstan gains a considerable share of profit from the export of oil and other mineral resources, moreover, economic policy of Kazakhstan is focused on shifting away from increasing mined deposits, extraction volumes, and the export of raw materials and to more output of finished products with high value added.
The year 2010 became an important stage in the economic development of Kazakhstan. A new industrial program has started, which main objective is the development of finished products for export, with a gradual transition to more high-technology products. There has been a Customs Union formed under which there are additional possibilities for investors, who implement their projects in Kazakhstan, to reach the developed Russian and Belorussian markets.
Economic geography Kazakhstan consists of five large economic regions:
- North Kazakhstan — efficient grain economy, extraction of iron ore and coal, mechanical engineering, production of oil products and ferroalloys, and energy.
- East Kazakhstan – efficient nonferrous industry, energy, mechanical engineering and forestry products.
- West Kazakhstan is one of the largest oil and gas extraction regions.
- Central Kazakhstan – efficient ferrous and nonferrous industries, mechanical engineering, and cattle breeding.
- South Kazakhstan – cotton, rice, wool, grain, fruits, vegetables, grapes; efficient nonferrous industry, instrument manufacturing, light manufacturing, food production, fish farming, and forestry products.