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Economy of Kazakhstan vs Russia compared: GDP & Debt

Updated on by Georank team

Kazakhstan has a GDP of $291B compared to $2.17T for Russia, ranking 48/197 and 11/197 by economy size, respectively.

Kazakhstan has $71.1B in government debt (24.4% of GDP), compared to $440B (20.3% of GDP) in Russia.

Kazakhstan vs Russia GDP by year

Kazakhstan
Russia
1x
Year GDP, current $
Kazakhstan Russia
2024 $291,480,274,649 $2,173,835,806,672
2023 $261,840,101,060 $2,071,505,725,031
2022 $225,496,328,925 $2,291,612,121,335
2021 $197,112,255,361 $1,829,186,719,575
2020 $171,082,365,861 $1,493,075,894,362
2019 $181,667,184,855 $1,693,115,002,708
2018 $179,339,977,690 $1,657,328,773,461
2017 $166,805,788,827 $1,574,199,360,089
2016 $137,278,320,084 $1,276,786,350,881
2015 $184,388,404,706 $1,363,482,182,198
2014 $221,415,613,595 $2,059,241,589,895
2013 $236,634,603,409 $2,292,470,078,346
2012 $207,998,568,866 $2,208,293,553,878
2011 $192,626,464,617 $2,045,922,753,398
2010 $148,047,348,241 $1,524,916,715,224
2009 $115,308,686,941 $1,222,645,900,056
2008 $133,441,648,852 $1,660,848,058,303
2007 $104,849,915,058 $1,299,703,478,482
2006 $81,003,864,630 $989,932,071,353
2005 $57,123,671,734 $764,015,973,481
2004 $43,151,647,003 $591,016,690,732
2003 $30,833,692,900 $430,347,420,185
2002 $24,636,598,527 $345,470,494,418
2001 $22,152,689,180 $306,602,070,621
2000 $18,291,990,662 $259,710,142,197
1999 $16,870,817,182 $195,907,128,351
1998 $22,135,245,507 $270,955,486,862
1997 $22,165,932,063 $404,928,954,192
1996 $21,035,357,937 $391,724,890,744
1995 $20,374,302,652 $395,537,185,735
1994 $21,250,792,886 $395,077,301,248
1993 $23,409,260,880 $435,083,713,851
1992 $24,917,355,372 $460,290,556,901
1991 $24,923,076,923 $517,962,962,963
1990 $26,932,016,270 $517,014,446,228
1989 - $506,631,299,735
1988 - $554,828,660,436

Data sources: World Bank | Economy & Growth (1988–2024, retrieved 2026-04-06).

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

GDP per capita in Kazakhstan vs Russia by year

Kazakhstan
GDP per capita

GDP per capita, PPP
Russia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kazakhstan Russia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $14,155 $40,891 $15,145 $47,405
2023 $12,879 $38,515 $14,403 $44,269
2022 $11,255 $35,895 $15,888 $40,939
2021 $9,984 $32,946 $12,637 $38,638
2020 $8,782 $29,040 $10,280 $31,491
2019 $9,457 $28,689 $11,640 $30,964
2018 $9,472 $25,096 $11,399 $28,629
2017 $8,943 $23,973 $10,835 $25,778
2016 $7,476 $23,023 $8,804 $24,012
2015 $10,196 $22,484 $9,427 $23,994
2014 $12,428 $23,958 $14,277 $25,688
2013 $13,478 $23,754 $15,941 $26,020
2012 $12,019 $21,367 $15,402 $24,274
2011 $11,287 $20,160 $14,305 $22,790
2010 $8,793 $18,642 $10,675 $20,490
2009 $6,938 $17,389 $8,563 $19,390
2008 $8,124 $17,278 $11,635 $20,164
2007 $6,449 $16,581 $9,101 $16,648
2006 $5,030 $14,966 $6,920 $14,912
2005 $3,577 $13,226 $5,323 $11,822
2004 $2,722 $11,777 $4,102 $10,227
2003 $1,958 $10,532 $2,975 $9,255
2002 $1,574 $9,504 $2,378 $8,037
2001 $1,422 $8,568 $2,100 $7,361
2000 $1,180 $7,418 $1,772 $6,825
1999 $1,092 $6,626 $1,331 $5,914
1998 $1,415 $6,284 $1,835 $5,465
1997 $1,382 $6,178 $2,738 $5,700
1996 $1,281 $5,836 $2,644 $5,518
1995 $1,218 $5,595 $2,666 $5,613
1994 $1,247 $5,860 $2,662 $5,734
1993 $1,355 $6,477 $2,931 $6,420
1992 $1,438 $6,945 $3,099 $6,862
1991 $1,442 $7,193 $3,490 $7,858
1990 $1,570 $7,874 $3,494 $8,028
1989 - - $3,430 -
1988 - - $3,778 -

Data sources: World Bank | Economy & Growth (1988–2024, retrieved 2026-04-06).

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

Kazakhstan's GDP per capita is $14,155, ranking 71/197, compared to $15,145 in Russia, ranking 68/197. Adjusted for purchasing power (GDP per capita PPP), Kazakhstan ranks 58th at $40,891, while Russia ranks 50th at $47,405.

Economic indicators

Kazakhstan Russia
Gross domestic product
$291B
2024
$2.17T
2024
GDP rank
48/197
2024
11/197
2024
GDP growth
5%
2023-2024
4.34%
2023-2024
GDP per capita
$14,155
2024
$15,145
2024
GDP per capita rank
71/197
2024
68/197
2024
GDP per capita, PPP
$40,891
2024
$47,405
2024
GDP per capita PPP rank
58/197
2024
50/197
2024
Government debt
$71.1B
2024
$440B
2024
Debt-to-GDP ratio
24.4%
2024
20.3%
2024
Government debt per person
$3,450
2024
$3,067
2024
Government debt per person rank
95/185
2024
98/185
2024
Average annual personal income after taxes
$7,486
2026
$10,464
2026
Market capitalization of domestic companies
$62.8B
2024
$650B
2023
Number of millionaires
44,307
2025
426,000
2025
Number of billionaires
6
2025
140
2025
Income share by richest 10%
24.8%
2021
25.1%
2023
Income share by poorest 10%
4.3%
2021
3.1%
2023
Government expenditure, % of GDP
20.7%
2024
36.9%
2024
Consumer prices inflation
8.7%
2023-2024
8.4%
2023-2024
Central bank interest rate
18%
2025
16%
2025
Unemployment rate
4.86%
2022
2.43%
2024
Population
21161809
141906741

Spending and national debt comparison by year

Kazakhstan
Spending

Debt
Russia
Spending

Debt
1x
Year % of GDP
Kazakhstan Russia
Government spending Government debt Government spending Government debt
2024 20.7% 24.4% 36.9% 20.3%
2023 23.4% 23% 35.7% 19.5%
2022 21.7% 23.5% 35.2% 18.5%
2021 22.1% 25.1% 34.9% 16.5%
2020 24.5% 26.4% 39.2% 19.2%
2019 20.2% 19.9% 33.8% 13.7%
2018 18.8% 20.3% 32.6% 13.6%
2017 24.1% 19.9% 34.8% 14.3%
2016 21.5% 19.7% 36.6% 14.8%
2015 22.9% 21.9% 35.3% 15.3%
2014 21.3% 14.5% 34.9% 15.1%
2013 19.8% 12.6% 34.7% 12.3%
2012 21.9% 12.1% 34% 11.2%
2011 21.2% 10.2% 33.3% 10.3%
2010 22.5% 10.7% 35.5% 10.1%
2009 23.5% 10.2% 38.6% 9.92%
2008 27.1% 6.77% 32% 7.45%
2007 23.7% 4.09% 31.9% 8.03%
2006 19.8% 6.68% 29% 9.8%
2005 22% 8.1% 29.5% 14.9%
2004 21.3% 11.4% 29.6% 20.8%
2003 21.4% 15% 32.6% 28.3%
2002 20.5% 17.6% 33.8% 37.6%
2001 - - 31.5% 44.4%
2000 - - 30.7% 55.9%
1999 - - 34.3% 92.4%
1998 - - 39.7% 135.2%
1997 - - - 51.5%
1996 - - - 51.9%
1995 - - - 53.7%
1994 - - - 63.5%
1993 - - - 92.4%
1992 - - - 116%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1997–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1992–1996, retrieved 2026-02-20).

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

In 2024, Kazakhstan's government spending was $60.3B, accounting for 20.7% of its GDP, while Russia spent $802B, or 36.9% of GDP.

Debt-to-GDP ratio is 24.4% in Kazakhstan and 20.3% in Russia, ranking 167/185 and 175/185, respectively.

Government deficit by year

Deficit/surplus
Kazakhstan

Russia
1x
Year Deficit/surplus, % of GDP
Kazakhstan Russia
2024 -1.6% -1.6%
2023 -1.52% -2.22%
2022 0.11% -1.34%
2021 -4.97% 0.78%
2020 -7.04% -3.99%
2019 -0.57% 1.93%
2018 2.58% 2.92%
2017 -4.27% -1.47%
2016 -4.5% -3.67%
2015 -6.26% -3.39%
2014 2.48% -1.07%
2013 4.95% -1.16%
2012 4.43% 0.38%
2011 5.81% 1.43%
2010 1.47% -3.19%
2009 -1.33% -5.89%
2008 1.23% 4.55%
2007 5.13% 5.59%
2006 7.65% 7.8%
2005 6.08% 7.6%
2004 3.29% 4.57%
2003 4% 1.35%
2002 1.92% 0.67%
2001 - 2.99%
2000 - 3.11%
1999 - -3.59%
1998 - -7.42%
1997 - -
1996 - -
1995 - -
1994 - -
1993 - -
1992 - -
1991 - -
1990 - -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 - 0.15%
1939 - 0.12%
1938 - 0.16%
1937 - 0.12%
1936 - 0.1%
1935 - 0.07%
1934 - 0.25%
1933 - 0.58%
1932 - 0.06%
1931 - -1.12%
1930 - -1.62%
1929 - -0.4%
1928 - -0.4%
1927 - -
1926 - -
1925 - -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 - -
1912 - 0.69%
1911 - 1.26%
1910 - 1.52%
1909 - -0.15%
1908 - -0.83%
1907 - -0.86%
1906 - -3.19%
1905 - -7.72%
1904 - -5.13%
1903 - 1.04%
1902 - -1.57%
1901 - 0.14%
1900 - -0.36%
1899 - 0.66%
1898 - 0.03%
1897 - 0.34%
1896 - 1.3%
1895 - 0.7%
1894 - 1.43%
1893 - 0.63%
1892 - -1.16%
1891 - -0.97%
1890 - 0.01%
1889 - 1.34%
1888 - 0.88%
1887 - 0.14%
1886 - -0.84%
1885 - -0.75%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1998–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1885–1940, retrieved 2026-02-20).

GeoRank.org/economy/kazakhstan/russia | 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 Russia's deficit of $34.9B, or 1.6% of GDP.

Over the past 23 years, Kazakhstan recorded a fiscal deficit in 9 of those years, while Russia ran a deficit in 11 years. On average, Kazakhstan posted an annual surplus equal to 0.83% of GDP, compared to surplus of 0.46% of GDP for Russia.

Inflation comparison by year

Inflation
Kazakhstan

Russia
1x
Year Consumer prices inflation
Kazakhstan Russia
2024 8.7% 8.4%
2023 14.5% 5.9%
2022 15% 13.7%
2021 8% 6.7%
2020 6.8% 3.4%
2019 5.3% 4.5%
2018 6% 2.9%
2017 7.5% 3.7%
2016 14.6% 7%
2015 6.8% 15.5%
2014 6.6% 7.8%
2013 5.8% 6.8%
2012 5.1% 5.1%
2011 8.4% 8.4%
2010 7.1% 6.8%
2009 7.3% 11.6%
2008 17.2% 14.1%
2007 10.8% 9%
2006 8.6% 9.7%
2005 7.4% 12.7%
2004 7% 10.9%
2003 6.4% 13.7%
2002 6% 15.8%
2001 8.4% 21.5%
2000 13.2% 20.8%
1999 8.3% 85.7%
1998 7.1% 27.7%
1997 17.4% 14.8%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

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

Over the past 28 years, Kazakhstan has recorded an average annual inflation rate of 8.98%, compared with 13.4% in Russia. In 2024, inflation was 8.7% in Kazakhstan and 8.4% in Russia.

Top exports between countries

Kazakhstan
Export category Export value
Raw materials & minerals $3.83B
Machinery & equipment $2.14B
Metals $1.8B
Chemicals & pharma $625M
Textiles & consumer goods $361M
Processed food, beverages & tobacco $260M
Precious metals & jewellery $190M
Raw agricultural goods $173M
Animal & marine products $115M
Wood & paper products $36.3M
Russia
Export category Export value
Machinery & equipment $4.85B
Metals $3B
Raw materials & minerals $2.68B
Chemicals & pharma $2.13B
Processed food, beverages & tobacco $2.02B
Transport & tourism services $1.41B
Textiles & consumer goods $1.3B
Wood & paper products $856M
Miscellaneous $462M
Precious metals & jewellery $457M

Balance of trade

Kazakhstan Russia
Current account balance
-$7.94B
2024
$63.4B
2024
Current account balance ranking
173/190
2024
12/190
2024
Current account balance, % of GDP
-2.72%
2024
+2.91%
2024
Goods imports
$61.8B
2024
$302B
2024
Goods exports
$79B
2024
$434B
2024
Service imports
$13B
2024
$81.5B
2024
Service exports
$11.8B
2024
$43.1B
2024
Imports of goods and services, % of GDP
25.6%
2024
17.6%
2024
Exports of goods and services, % of GDP
31.6%
2024
21.9%
2024

Economic freedom indices

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

Kazakhstan Russia
Economic freedom 64.2 50.3
Economic freedom ranking 75/197 161/197
Property rights 54.9 18.6
Government integrity 40.7 22.8
Judicial effectiveness 33.8 22.8
Tax burden 91.2 81.9
Government spending 85.6 61.3
Fiscal health 97.2 94.4
Business freedom 64.9 51.4
Labor freedom 63.5 59.1
Monetary freedom 64.3 61.8
Trade freedom 74.4 69.4
Investment freedom 50 30
Financial freedom 50 30

Economic freedom comparison by year

Kazakhstan
Russia
1x
Year Economic freedom index
Kazakhstan Russia
2026 64.2 50.3
2025 63.8 51.6
2024 62 52
2023 62.1 53.8
2022 64.4 56.1
2021 71.1 61.5
2020 69.6 61
2019 65.4 58.9
2018 69.1 58.2
2017 69 57.1
2016 63.6 50.6
2015 63.3 52.1
2014 63.7 51.9
2013 63 51.1
2012 63.6 50.5
2011 62.1 50.5
2010 61 50.3
2009 60.1 50.8
2008 61.1 49.8
2007 59.6 52.2
2006 60.2 52.4
2005 53.9 51.3
2004 49.7 52.8
2003 52.3 50.8
2002 52.4 48.7
2001 51.8 49.8
2000 50.4 51.8
1999 47.3 54.5
1998 41.7 52.8
1997 - 48.6
1996 - 51.6
1995 - 51.1

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Kazakhstan is 64.2, ranking 75/197, compared to 50.3 for Russia, ranking 161/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Kazakhstan Russia
Services, % of GDP
57.9%
2024
57.5%
2024
Industry, % of GDP
32.1%
2024
30.7%
2024
Agriculture, forestry, and fishing, % of GDP
3.88%
2024
2.74%
2024
GNI, Atlas method
$249B
2024
$2.24T
2024
GNI per capita, PPP
$37,590
2024
$46,780
2024
Total reserves including gold
$45.8B
2024
$597B
2023
Total reserves ranking
43/177
2024
6/177
2023
Net foreign direct investment
-$3.9B
2024
$9.37B
2024
Net inflows of foreign direct investment
$1.98B
2024
-$9.35B
2024
Net outflows of foreign direct investment
-$1.92B
2024
-$170M
2024
Servicing debt to the IMF, % of GNI
17.3%
2024
2.65%
2024
Poverty at national poverty lines
5%
2024
12.1%
2020
Gross capital formation, % of GDP
27.2%
2024
26.3%
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/russia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1997–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1885–1996, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2021–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.