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About KAZAKHSTAN
 
About homodeco

Kazakhstan, located in Central Asia, is the 9th largest country in the world, and occupies 2,7 million square meters land, which is more than Western Europe. It is the business hub for 60 million Central Asians sharing borders with Russia, Uzbekistan, China, Kyrgyzstan and Turkmenistan. 

Kazakhstan's economy is larger than those of all the other Central Asian states combined, largely due to the country's vast natural resources and a recent history of political stability. The country possesses enormous fossil fuel reserves and plentiful supplies of other minerals and metals which have been key to the country’s economic success and attracted significant foreign investment that reached US$ 39,3 billion according to 2007 data. It also has a large agricultural sector featuring livestock and grain. Kazakhstan's industrial sector rests on the extraction and processing of these natural resources.

Kazakhstan enjoyed high level of growth in the recent years thanks largely to its booming energy sector, but also to economic reform, good harvests, and foreign investment and is announced to be as 8,7%. Inflation, however, jumped to more than 10% in 2007 while the unemployment rate is 7,3%. In the energy sector, the opening of the Caspian Consortium pipeline in 2001, from western Kazakhstan's Tengiz oilfield to the Black Sea, substantially raised export capacity.

The country has embarked upon an industrial policy designed to diversify the economy away from overdependence on the oil sector by developing its manufacturing potential. Foreign trade grew rapidly in last few years with exports reaching US$ 44,88 billion and imports S$ 29.91 billion (2007 est.). On the other hand, aided by strong growth and foreign exchange earnings, Kazakhstan aspires to become a regional financial center and has created a banking system comparable to those in Central Europe.

The country is a member of the United Nations, Commonwealth of Independent States, the Economic Cooperation Organization, and the Shanghai Cooperation Organization along with Russia, China, Kyrgyzstan, Tajikistan and Uzbekistan.

There is high demand for high quality imported products and materials used in the finishing and renovation process which include: wall & floor coverings, ceiling products, doors and windows, kitchen and bath equipment, plumbing and electrical equipment, hardware and DIY products.

Much like the entire economy of Kazakhstan, the construction sector is very dependent on the success or failure of the oil industry. The direct demands of oil companies include construction in oil fields, as well as office buildings in the capital and other locations. While the oil and gas sector will be the major purchaser of architecture, construction and engineering services for years to come, there is demand for these services in many other sectors, notably construction, renovation and conservation of industrial and public utilities and residential buildings, and design and assembly services.

This positive growth will, with no doubt, boost the demand for home textile and interior design requirements in the region. It is important to note that the local supply of home textile products is scarce and the sector is highly dependent upon imports.

 

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