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Kazakhstan, EU increase trade by almost 30%

Business Materials 21 November 2018 09:07
In January-September this year, foreign trade turnover between Kazakhstan and the European Union amounted to $28.6 billion, Finprom.kz reported.
Kazakhstan, EU increase trade by almost 30%

Baku, Azerbaijan, Nov. 21

By Rashid Shirinov – Trend:

In January-September this year, foreign trade turnover between Kazakhstan and the European Union amounted to $28.6 billion, Finprom.kz reported.

This is 30 percent higher than the turnover of last year ($22 billion).

Interestingly, Kazakhstan's exports to the EU were almost 5 times higher than imports: during the reporting period, exports amounted to $23.6 billion, and imports totaled $5 billion.

The main EU countries importing Kazakh products were Italy ($8.8 billion in January-September 2018), the Netherlands ($4.8 billion), France ($2.7 billion), Spain ($1.5 billion) and Romania ($1.1 billion).

Thus, the EU's share in Kazakhstan's foreign trade is increasing: in 2016 it was 38.4 percent, but now it accounts for 41.9 percent of the total trade turnover of the country.

At the same time, investments from the EU to Kazakhstan are showing growth. In the first half of this year, the EU countries invested $5.7 billion in Kazakhstan, which is 14.2 percent more year-on-year.

The EU accounts for almost half of the country's total investment flows – 46.1 percent.

The main EU countries-investors in the economy of Kazakhstan are the Netherlands ($3.8 billion in January-June 2018), Belgium ($797.5 million), France ($431.6 million), the United Kingdom ($292.9 million) and Germany ($145.6 million).

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Follow the author on Twitter: @ShirinovRashid

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