9. Kazakhstan
Total score – 31
Data from the World Bank puts Kazakhstan’s oil rents in 2014 at 21% of the nation’s GDP, which is a considerable portion. At the same time, according to a Statista infographic citing Bloomberg data, by 2018 the country’s oil exports will weigh about 18.9% of the GDP.
Furthermore, fuel exports in 2013 were 76.2% from overall merchandise exports, which further helps to paint the picture as to how important oil is to the country’s economy.
Kazakhstan has an estimated oil reserve of 30 billion barrels, whch ia why it’s on our list of countries most reliant on oil. Production was said to reach 1.5 million barrels per day at its peak in 2016. Even so, the country has started looking into renewable energy sources in the past few years, adopting an action plan to develop greener sources by 2020. In the first half of 2016, Kazakhstan increased the installed capacity of green energy facilities by 1.4 times compared to the same period of the previous year, up to 251.55 megawatts.
Copyright: argus456 / 123RF Stock Photo
