Kazakhstan decreases trade turnover with Russia and Belarus by 22.4%

Business Materials 15 September 2014 17:09 (UTC +04:00)

Baku, Azerbaijan, Sept. 15

By Elena Kosolapova - Trend:
Kazakhstan decreased trade turnover within the Customs Union's member countries (Russia and Belarus) by 22.4 percent in January-July 2014, Novosti-Kazakhstan reported with reference to a Kazakh official.

"The trade turnover with the Customs Union's member countries in January-July 2014 amounted to 10.739 billion which is 22.4 percent less compared to the same period of 2014," head of the Statistics Committee on of the Ministry of National Economy Alikhan Smailov told reporters on Sept. 15.

The decrease in the trade turnover with the Customs Union's member countries mainly resulted from the decrease in trade turnover with Russia, which is experiencing a slowdown in economic growth and decrease in demand for imported Kazakh products as a result, Smailov said.

"That is why we see a decrease in export of different metals, uranium and coal to Russia," he added.

Kazakh export to other Customs Union's countries decreased by 21 percent to $2.915 billion in January-July 2014. Kazakh import from Russia and Belarus decreased by 22.9 percent to 7.824 billion in the reporting period. The decrease in import resulted from devaluation of Kazakh national currency tenge in February, Smailov said.

Edited by C.N.