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Kazakh export of agricultural goods to Russia up by nearly 5%

Business Materials 11 October 2019 18:26

Baku, Azerbaijan, Oct.11

By Nargiz Sadikhova - Trend:

Trade turnover of agriculture goods and goods manufactured by processing agricultural raw materials between Kazakhstan and Russia amounted to $950.5 million during 1H2019, which is 7.8 percent more than during the same period of last year, Trend reports with reference to the press office of Kazakh Ministry of Agriculture.

The information was announced during a conference entitled "Kazakhstan - Russia: trade and economic cooperation in the agricultural sector" held in Moscow within the framework of International agro-industrial forum. As part of the conference, First Vice-Minister of Agriculture of Kazakhstan Aydarbek Saparov held a presentation on cooperation of Kazakhstan and Russia is agriculture.

According to him, manufacturing of agriculture goods has increased by 1.4 times in Kazakhstan over the course of last five years.

“Average annual growth ratio of labor efficiency in agricultural complex amounted to 24 percent, having reached 2.076 million tenge in 2018. Total export of goods increased by 24.5 percent in 2018, including export of processed goods, the volume of which increased by 3.5 percent,” Saparov said.

“Furthermore, trade turnover of agriculture goods and goods manufactured by processing agricultural raw materials between Kazakhstan and Russia amounted to $950.5 million during 1H2019, which is 7.8 percent more than during the same period of last year. This includes export from Kazakhstan to Russia worth $203.6 million, which is 4.8 percent more than during the same period of last year,” he added.

“Agriculture sector is becoming more and more attractive for business. Some 1.3 trillion tenge of investments have been attracted over the course of last five years. About 80 percent of investments account for investments of private sector, including 365.1 billion tenge in 2018,” he concluded.

(1 USD = 390.13 KZT on October 11)

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