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Kazakhstan reduces exports of petroleum oils to Hungary amid COVID-19 pandemic

Business Materials 2 February 2021 13:33 (UTC +04:00)

BAKU, Azerbaijan, Feb.2

By Nargiz Sadikhova - Trend:

Kazakhstan has exported 19,994 tons of crude petroleum oil and oil obtained from bituminous minerals worth 5.8 million euros to Hungary in November 2020, a Eurostat official told Trend.

In turn, Kazakhstan exported 363,168 tons of petroleum oils and oils obtained from bituminous minerals worth 128.2 million euros to Hungary from Jan. through Nov. 2020.

Thus, the November volume of petroleum oils and oils obtained from bituminous minerals from Kazakhstan to Hungary is 49.9 percent less than in volume compared to September 2020 (39,984 tons) and is 59.01 percent less than in Jan. 2020 (48,781 tons).

Kazakhstan was not exporting crude petroleum oil to Hungary in October 2020.

November export value is also 47.07 percent less than in September 2020 (10.8 million euros) and is 72.6 percent less than in Jan. 2020 (21.3 million euros).

The value of trade turnover between Kazakhstan and Hungary amounted to $102.9 million over the first 11 months of 2020, compared to $89.5 million during the same period of 2019.

Kazakhstan’s export to Hungary amounted to $9.01 million over the period from January through Nov. 2020, compared to $9.8 million during the same period of 2019.

In turn, Kazakhstan’s imports from Hungary amounted to nearly $93.9 million over the reporting period, compared to $79.6 million during the same period of 2019.

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