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Kazakhstan

Capital City: Astana
%T:%M %A in Astana and Almaty
Kazakhstan's economy keeps showing good results : the annual GDP growth rate was 9.4% in 2004 and 8.8% in 2005. The IMF forecasts an 7.7% growth in 2006. These performances are driven by oil exports which generate 40% of the country's earnings. Kazakhstan is the second country in the Commonwealth of Independant States (CIS), behind Russia, to attract foreign investments especially concerning hydrocarbons sectors. However, corruption and red tape which are very present hinder these investments.

The agriculture sector provides 8% of the GDP and employs more than 20% of the country's active population. Kazakhstan benefits from important natural resources: oil and gas, coal, copper, zinc, uranium and silver. Oil production accounts for 30% of the GDP and its exploitation is on the rise. Gas production should speed up. The building sector is growing strongly. The other activity sectors remain little developed given that Kazakhstan imports almost the total of its capital goods and consumer products.

Kazakhstan is open to international trade. Customs duties amount to an average 9%. Kazakhstan's three largest export are Switzerland, Italy and Russia.
The main import partners are Russia, Germany and China. The country mainly imports capital goods, transport goods and mass consumption products.

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