Kazakh trade turnover with Customs Union countries ups by 41 percent in 2011
Azerbaijan, Baku, Feb. 15 / Trend E. Kosolapova/
Kazakhstan's trade turnover with Customs Union countries (Russia, Belarus) increased by 40.8 percent in January-December, 2011 compared to the same period of 2010.
Kazakhstan's total trade turnover with the Customs Union countries hit $24.53 billion in this period, including $23.80 billion trade turnover with Russia and $729.9 million with Belarus.
Meanwhile, Kazakh export to Russia and Belarus increased by 43.1 percent to $7.62 billion and Kazakh import from these countries increased by 39.8 percent to $16.91 billion in 2011.
Kazakhstan mainly exports mineral products (55.4 percent of total exports to the Customs Union), metals and metal products (26.5 percent) and chemical products (9.0 percent) to Russia and Belarus.
Russia and Belarus export machinery and equipment (29.9 percent of total export to Kazakhstan), mineral products (27.0 percent), chemical products (11.5 percent), metals and metal products (10.7 percent) to Kazakhstan.
The Customs Union of Russia, Kazakhstan and Belarus has been operating since 2010. It aims at forming a single customs zone where no duties or economic restrictions are applied, except special protective, antidumping and compensatory measures. The Common Economic Space within the Customs Union started to operate from Jan.1, 2012.