As shown in Figure 3.2, Kazakhstan’s GDP per capita experienced dramatic reversals in the past decade, based on the economic recovery in early 2000s and a slowdown caused primarily by the global economic and financial crisis. Currently, the main short-term economic policy challenge is to adjust to the new reality of slower growth (as compared to the beginning of the previous decade) and possibly to lower income in the near fixture. In 2015, Kazakhstan ranked fifteenth in the world in crude oil production, at 1.65 mln barrels per day, and is one of the largest exporters of crude oil (ninth in 2013), at 1.47 mln barrels per day. The country’s proven oil reserves, at 30 bln barrels, rank the 12th highest in the w'orld. Its proven gas reserves (2.41 tin m3) are the 15th highest in the world. Hydrocarbon output was the equivalent of nearly 18% of GDP and about 60% of exports in 2015.