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Economy of Kazakhstan vs Luxembourg compared: GDP & Debt

Updated on by Georank team

Kazakhstan has a GDP of $291B compared to $93.3B for Luxembourg, ranking 48/197 and 74/197 by economy size, respectively.

Kazakhstan has $71.1B in government debt (24.4% of GDP), compared to $24.5B (26.3% of GDP) in Luxembourg.

Kazakhstan vs Luxembourg GDP by year

Kazakhstan
Luxembourg
1x
Year GDP, current $
Kazakhstan Luxembourg
2024 $291,480,274,649 $93,279,851,863
2023 $261,840,101,060 $88,788,881,539
2022 $225,496,328,925 $80,801,680,397
2021 $197,112,255,361 $86,386,759,695
2020 $171,082,365,861 $73,670,782,100
2019 $181,667,184,855 $69,872,035,114
2018 $179,339,977,690 $71,085,623,495
2017 $166,805,788,827 $65,712,180,343
2016 $137,278,320,084 $62,216,885,436
2015 $184,388,404,706 $60,071,584,216
2014 $221,415,613,595 $68,804,811,898
2013 $236,634,603,409 $65,203,276,467
2012 $207,998,568,866 $59,776,383,527
2011 $192,626,464,617 $61,696,281,326
2010 $148,047,348,241 $56,213,985,987
2009 $115,308,686,941 $54,467,289,898
2008 $133,441,648,852 $58,844,277,702
2007 $104,849,915,058 $51,587,401,416
2006 $81,003,864,630 $42,910,146,296
2005 $57,123,671,734 $37,672,280,120
2004 $43,151,647,003 $35,064,843,793
2003 $30,833,692,900 $29,667,268,248
2002 $24,636,598,527 $23,649,833,332
2001 $22,152,689,180 $21,387,533,703
2000 $18,291,990,662 $21,230,182,989
1999 $16,870,817,182 $21,899,317,599
1998 $22,135,245,507 $20,150,053,345
1997 $22,165,932,063 $19,563,836,265
1996 $21,035,357,937 $20,895,314,658
1995 $20,374,302,652 $20,853,093,870
1994 $21,250,792,886 $17,701,798,891
1993 $23,409,260,880 $15,925,521,222
1992 $24,917,355,372 $15,518,702,635
1991 $24,923,076,923 $13,834,219,728
1990 $26,932,016,270 $12,778,792,854
1989 - $10,037,674,038
1988 - $9,418,167,855
1987 - $8,320,902,215
1986 - $6,685,595,088
1985 - $4,577,211,767
1984 - $4,438,435,493
1983 - $4,524,217,751
1982 - $4,602,316,793
1981 - $5,053,665,797
1980 - $6,019,805,490
1979 - $5,516,982,664
1978 - $4,718,539,772
1977 - $3,789,321,328
1976 - $3,423,586,207
1975 - $3,123,333,333
1974 - $3,183,637,117
1973 - $2,609,875,802
1972 - $1,901,697,370
1971 - $1,518,773,421
1970 - $1,457,768,455
1969 - $1,245,432,991
1968 - $1,075,561,623
1967 - $983,052,315
1966 - $976,717,015
1965 - $929,477,285
1964 - $910,877,686
1963 - $797,902,154
1962 - $747,846,862
1961 - $710,163,719
1960 - $709,941,874

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/kazakhstan/luxembourg | CC BY

GDP per capita in Kazakhstan vs Luxembourg by year

Kazakhstan
GDP per capita

GDP per capita, PPP
Luxembourg
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kazakhstan Luxembourg
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $14,155 $40,891 $137,782 $155,941
2023 $12,879 $38,515 $133,231 $150,508
2022 $11,255 $35,895 $123,720 $146,919
2021 $9,984 $32,946 $134,966 $136,772
2020 $8,782 $29,040 $116,860 $122,067
2019 $9,457 $28,689 $112,697 $121,372
2018 $9,472 $25,096 $116,927 $116,638
2017 $8,943 $23,973 $110,193 $114,986
2016 $7,476 $23,023 $106,899 $113,365
2015 $10,196 $22,484 $105,462 $107,860
2014 $12,428 $23,958 $123,679 $105,296
2013 $13,478 $23,754 $120,000 $100,925
2012 $12,019 $21,367 $112,585 $96,636
2011 $11,287 $20,160 $119,025 $94,475
2010 $8,793 $18,642 $110,886 $90,336
2009 $6,938 $17,389 $109,420 $86,919
2008 $8,124 $17,278 $120,422 $90,971
2007 $6,449 $16,581 $107,475 $85,126
2006 $5,030 $14,966 $90,789 $78,861
2005 $3,577 $13,226 $80,988 $68,788
2004 $2,722 $11,777 $76,545 $64,686
2003 $1,958 $10,532 $65,689 $60,192
2002 $1,574 $9,504 $53,006 $58,576
2001 $1,422 $8,568 $48,440 $56,136
2000 $1,180 $7,418 $48,660 $55,136
1999 $1,092 $6,626 $50,872 $49,845
1998 $1,415 $6,284 $47,445 $44,270
1997 $1,382 $6,178 $46,642 $42,488
1996 $1,281 $5,836 $50,444 $39,722
1995 $1,218 $5,595 $51,032 $38,345
1994 $1,247 $5,860 $43,933 $37,551
1993 $1,355 $6,477 $40,067 $35,899
1992 $1,438 $6,945 $39,571 $34,108
1991 $1,442 $7,193 $35,747 $33,191
1990 $1,570 $7,874 $33,465 $29,949
1989 - - $26,618 -
1988 - - $25,219 -
1987 - - $22,443 -
1986 - - $18,150 -
1985 - - $12,482 -
1984 - - $12,127 -
1983 - - $12,374 -
1982 - - $12,591 -
1981 - - $13,837 -
1980 - - $16,531 -
1979 - - $15,204 -
1978 - - $13,034 -
1977 - - $10,486 -
1976 - - $9,491 -
1975 - - $8,701 -
1974 - - $8,967 -
1973 - - $7,447 -
1972 - - $5,487 -
1971 - - $4,435 -
1970 - - $4,298 -
1969 - - $3,690 -
1968 - - $3,203 -
1967 - - $2,935 -
1966 - - $2,925 -
1965 - - $2,804 -
1964 - - $2,779 -
1963 - - $2,462 -
1962 - - $2,332 -
1961 - - $2,241 -
1960 - - $2,261 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/kazakhstan/luxembourg | CC BY

Kazakhstan's GDP per capita is $14,155, ranking 71/197, compared to $137,782 in Luxembourg, ranking 3/197. Adjusted for purchasing power (GDP per capita PPP), Kazakhstan ranks 58th at $40,891, while Luxembourg ranks 1st at $155,941.

Economic indicators

Kazakhstan Luxembourg
Gross domestic product
$291B
2024
$93.3B
2024
GDP rank
48/197
2024
74/197
2024
GDP growth
5%
2023-2024
0.36%
2023-2024
GDP per capita
$14,155
2024
$137,782
2024
GDP per capita rank
71/197
2024
3/197
2024
GDP per capita, PPP
$40,891
2024
$155,941
2024
GDP per capita PPP rank
58/197
2024
1/197
2024
Government debt
$71.1B
2024
$24.5B
2024
Debt-to-GDP ratio
24.4%
2024
26.3%
2024
Government debt per person
$3,450
2024
$36,221
2024
Government debt per person rank
95/185
2024
19/185
2024
Average annual personal income after taxes
$7,486
2026
$69,593
2026
Market capitalization of domestic companies
$62.8B
2024
$41.9B
2024
Number of millionaires
44,307
2025
n/a
Number of billionaires
6
2025
1
2025
Income share by richest 10%
24.8%
2021
25%
2023
Income share by poorest 10%
4.3%
2021
2.8%
2023
Government expenditure, % of GDP
20.7%
2024
46.9%
2024
Consumer prices inflation
8.7%
2023-2024
2.05%
2023-2024
Central bank interest rate
18%
2025
n/a
Unemployment rate
4.86%
2022
6.42%
2024
Population
21161809
693885

Spending and national debt comparison by year

Kazakhstan
Spending

Debt
Luxembourg
Spending

Debt
1x
Year % of GDP
Kazakhstan Luxembourg
Government spending Government debt Government spending Government debt
2024 20.7% 24.4% 46.9% 26.3%
2023 23.4% 23% 46.4% 24.7%
2022 21.7% 23.5% 44.3% 24.9%
2021 22.1% 25.1% 42.4% 24.2%
2020 24.5% 26.4% 47% 24.5%
2019 20.2% 19.9% 43.1% 22.3%
2018 18.8% 20.3% 42.3% 20.9%
2017 24.1% 19.9% 41.3% 21.8%
2016 21.5% 19.7% 40% 19.6%
2015 22.9% 21.9% 40.4% 21.1%
2014 21.3% 14.5% 40.6% 21.9%
2013 19.8% 12.6% 41.2% 22.4%
2012 21.9% 12.1% 41.8% 20.8%
2011 21.2% 10.2% 41.5% 18.5%
2010 22.5% 10.7% 42% 19.1%
2009 23.5% 10.2% 42.7% 15.3%
2008 27.1% 6.77% 37.9% 14.6%
2007 23.7% 4.09% 37.4% 8.09%
2006 19.8% 6.68% 39.4% 8.21%
2005 22% 8.1% 43.4% 7.95%
2004 21.3% 11.4% 43.7% 7.83%
2003 21.4% 15% 43.3% 7.43%
2002 20.5% 17.6% 41.8% 7.45%
2001 - - 38.1% 7.62%
2000 - - 38% 7.49%
1999 - - 41.7% 8.39%
1998 - - 43.9% 9.51%
1997 - - 44.2% 10.1%
1996 - - 42.5% 10.2%
1995 - - 42% 10.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20).

GeoRank.org/economy/kazakhstan/luxembourg | CC BY

In 2024, Kazakhstan's government spending was $60.3B, accounting for 20.7% of its GDP, while Luxembourg spent $43.7B, or 46.9% of GDP.

Debt-to-GDP ratio is 24.4% in Kazakhstan and 26.3% in Luxembourg, ranking 167/185 and 162/185, respectively.

Government deficit by year

Deficit/surplus
Kazakhstan

Luxembourg
1x
Year Deficit/surplus, % of GDP
Kazakhstan Luxembourg
2024 -1.6% 1.03%
2023 -1.52% -0.78%
2022 0.11% 0.18%
2021 -4.97% 1%
2020 -7.04% -3.09%
2019 -0.57% 2.68%
2018 2.58% 3.17%
2017 -4.27% 1.37%
2016 -4.5% 1.89%
2015 -6.26% 1.3%
2014 2.48% 1.33%
2013 4.95% 0.84%
2012 4.43% 0.5%
2011 5.81% 0.65%
2010 1.47% -0.26%
2009 -1.33% -0.21%
2008 1.23% 3.37%
2007 5.13% 4.35%
2006 7.65% 1.9%
2005 6.08% -0.21%
2004 3.29% -1.39%
2003 4% 0.28%
2002 1.92% 2.03%
2001 - 5.62%
2000 - 5.55%
1999 - 3.24%
1998 - 2.98%
1997 - 2.65%
1996 - 2.37%
1995 - 2.71%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20).

GeoRank.org/economy/kazakhstan/luxembourg | CC BY

In 2024, Kazakhstan's government deficit, the difference between spending and revenue, was $4.66B, equivalent to 1.6% of GDP. This compares to Luxembourg's surplus of $961M, or 1.03% of GDP.

Over the past 23 years, Kazakhstan recorded a fiscal deficit in 9 of those years, while Luxembourg ran a deficit in 6 years. On average, Kazakhstan posted an annual surplus equal to 0.83% of GDP, compared to surplus of 0.95% of GDP for Luxembourg.

Inflation comparison by year

Inflation
Kazakhstan

Luxembourg
1x
Year Consumer prices inflation
Kazakhstan Luxembourg
2024 8.7% 2.05%
2023 14.5% 3.74%
2022 15% 6.34%
2021 8% 2.53%
2020 6.8% 0.82%
2019 5.3% 1.74%
2018 6% 1.53%
2017 7.5% 1.73%
2016 14.6% 0.29%
2015 6.8% 0.47%
2014 6.6% 0.63%
2013 5.8% 1.73%
2012 5.1% 2.66%
2011 8.4% 3.41%
2010 7.1% 2.27%
2009 7.3% 0.37%
2008 17.2% 3.4%
2007 10.8% 2.31%
2006 8.6% 2.67%
2005 7.4% 2.49%
2004 7% 2.23%
2003 6.4% 2.05%
2002 6% 2.07%
2001 8.4% 2.66%
2000 13.2% 3.15%
1999 8.3% 1.03%
1998 7.1% 0.96%
1997 17.4% 1.37%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/kazakhstan/luxembourg | CC BY

Over the past 28 years, Kazakhstan has recorded an average annual inflation rate of 8.98%, compared with 2.1% in Luxembourg. In 2024, inflation was 8.7% in Kazakhstan and 2.05% in Luxembourg.

Top exports between countries

Kazakhstan
Export category Export value
Metals $212K
Machinery & equipment $61K
Precious metals & jewellery $12K
Luxembourg
Export category Export value
Machinery & equipment $8.58M
Raw materials & minerals $4.25M
Textiles & consumer goods $2.55M
Processed food, beverages & tobacco $1.19M
Chemicals & pharma $650K
Wood & paper products $164K
Metals $82K
Miscellaneous $66K
Precious metals & jewellery $3K

Balance of trade

Kazakhstan Luxembourg
Current account balance
-$7.94B
2024
$4.1B
2024
Current account balance ranking
173/190
2024
35/190
2024
Current account balance, % of GDP
-2.72%
2024
+4.4%
2024
Goods imports
$61.8B
2024
$29.4B
2024
Goods exports
$79B
2024
$31.3B
2024
Service imports
$13B
2024
$117B
2024
Service exports
$11.8B
2024
$150B
2024
Imports of goods and services, % of GDP
25.6%
2024
159.7%
2024
Exports of goods and services, % of GDP
31.6%
2024
191.5%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Kazakhstan Luxembourg
Economic freedom 64.2 79.7
Economic freedom ranking 75/197 7/197
Property rights 54.9 96.6
Government integrity 40.7 88.7
Judicial effectiveness 33.8 99.1
Tax burden 91.2 62.3
Government spending 85.6 36.9
Fiscal health 97.2 98.6
Business freedom 64.9 89.5
Labor freedom 63.5 56.7
Monetary freedom 64.3 74.1
Trade freedom 74.4 79.4
Investment freedom 50 95
Financial freedom 50 80

Economic freedom comparison by year

Kazakhstan
Luxembourg
1x
Year Economic freedom index
Kazakhstan Luxembourg
2026 64.2 79.7
2025 63.8 79.5
2024 62 79.2
2023 62.1 78.4
2022 64.4 80.6
2021 71.1 76
2020 69.6 75.8
2019 65.4 75.9
2018 69.1 76.4
2017 69 75.9
2016 63.6 73.9
2015 63.3 73.2
2014 63.7 74.2
2013 63 74.2
2012 63.6 74.5
2011 62.1 76.2
2010 61 75.4
2009 60.1 75.2
2008 61.1 74.7
2007 59.6 74.6
2006 60.2 75.3
2005 53.9 76.3
2004 49.7 78.9
2003 52.3 79.9
2002 52.4 79.4
2001 51.8 80.1
2000 50.4 76.4
1999 47.3 72.4
1998 41.7 72.7
1997 - 72.8
1996 - 72.5

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

GeoRank.org/economy/kazakhstan/luxembourg | CC BY

The Economic Freedom Index for Kazakhstan is 64.2, ranking 75/197, compared to 79.7 for Luxembourg, ranking 7/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Kazakhstan Luxembourg
Services, % of GDP
57.9%
2024
81.2%
2024
Industry, % of GDP
32.1%
2024
9.66%
2024
Agriculture, forestry, and fishing, % of GDP
3.88%
2024
0.21%
2024
GNI, Atlas method
$249B
2024
$57.3B
2024
GNI per capita, PPP
$37,590
2024
$110,650
2024
Total reserves including gold
$45.8B
2024
$2.79B
2024
Total reserves ranking
43/177
2024
119/177
2024
Net foreign direct investment
-$3.9B
2024
$21.4B
2024
Net inflows of foreign direct investment
$1.98B
2024
$106B
2024
Net outflows of foreign direct investment
-$1.92B
2024
$109B
2024
Servicing debt to the IMF, % of GNI
17.3%
2024
n/a
Poverty at national poverty lines
5%
2024
17.3%
2021
Gross capital formation, % of GDP
27.2%
2024
15.8%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/kazakhstan/luxembourg | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2023–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.