Which countries top list of Kazakhstan's major trade partners?

Business Materials 15 November 2018 14:56 (UTC +04:00)

Baku, Azerbaijan, Nov. 15

By Rashid Shirinov – Trend:

For the first 8 months of this year, Kazakhstan's foreign trade turnover amounted to $59.8 billion, which is 21.6 percent more than in the same period of last year, EnergyProm.kz reported.

During the reporting period, the country's exports grew by 28.2 percent and imports went up by 10.8 percent.

In terms of macro-regions, Kazakhstan has had the largest trade turnover with European countries (45.4 percent, or $27.2 billion), where Italy, the Netherlands and France were the leaders.

The second macro-region in terms of trade turnover with Kazakhstan was the CIS area (25.8 percent, $15.5 billion), of which the EEU countries account for 79.3 percent, or $12.3 billion. Russia was the undisputed leader here: 92 percent of Kazakhstan's turnover with the EEU states.

Asian countries were the third largest market for Kazakh products - they accounted for 25 percent of Kazakhstan's trade, or $15 billion, with China (48.5 percent of trade with Asia), the Republic of Korea (14.8 percent) and Turkey (8.2 percent) leading the way.

As for the overall statistics of Kazakhstan's major trade partners in January-August 2018 were Russia (18.8 percent of the total turnover), Italy (13.8 percent) and China (12.1 percent).

Russia was also the leader in imports to Kazakhstan – 37.7 percent of total imports into the country, –followed by China (16.8 percent) and Germany (5.7 percent).

At the same time, the main countries-importers of Kazakh products in the first 8 months of this year were Italy (19 percent of Kazakhstan's exports), the Netherlands (11.2 percent) and China (9.6 percent).


Follow the author on Twitter: @ShirinovRashid