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Kazakhstan’s foreign trade turnover increases

Business Materials 18 May 2018 13:14 (UTC +04:00)

Baku, Azerbaijan, May 18

By Ali Mustafayev – Trend:

Kazakhstan's foreign trade turnover amounted to $21 billion in the first quarter of 2018, increasing by 24.3 percent compared to the same period of 2017, Energy Prom reported.

The main growth of Kazakhstan's foreign trade is provided by export expansion. The value of goods delivered by Kazakhstan to foreign markets increased by 27 percent, to $13.8 billion. The value of imports, for the mentioned period, also increased by 19.4 percent, amounting to $7.2 billion.

Approximately 46 percent of Kazakhstan's trade turnover accounted for Europe (42.9 percent of which account for the countries of the European Union).

Europe also accounts for the bulk of Kazakhstan's exports (59.1 percent of total exports). The most part of Kazakhstan's imports, in turn, accounts for the CIS countries (43.9 percent of total imports).

The main position in the export of Kazakhstan is occupied by fuel and energy products (more than $10 billion, increasing by 33.8 percent, compared to the same period of 2017). More than 92 percent of exports of fuel and energy products fell on the European countries.

The list of main products, exported by Kazakhstan, also includes metals and metal products ($2.3 billion) and agro-industrial products ($787.1 million).

The main positions in Kazakhstan’s import are occupied by vehicles, machinery and equipment ($2.8 billion), chemical products ($1.1 billion) and food products ($806.1 million).

Follow the author on Twitter: @Ali_Mustafayev

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