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Kazakhstan's revenue from petroleum oil exports to Hungary surge

Oil&Gas Materials 3 December 2020 23:59 (UTC +04:00)
Kazakhstan's revenue from petroleum oil exports to Hungary surge

BAKU, Azerbaijan, Dec.3

By Nargiz Sadikhova - Trend:

Kazakhstan has exported 28,498 tons of crude petroleum oil and oil obtained from bituminous minerals worth 14.1 million euros to Hungary in August 2020, a Eurostat official told Trend.

In turn, Kazakhstan exported 303,190 tons of petroleum oils and oils obtained from bituminous minerals worth 111.3 million euros to Hungary from Jan. through Aug. 2020.

Thus, the August volume of petroleum oils and oils obtained from bituminous minerals from Kazakhstan to Hungary is 59.5 percent less than in volume compared to May 2020 (70,367 tons) and is 41.5 percent less than in Jan. 2020 (48,781 tons).

Kazakhstan was not exporting crude petroleum oil to Hungary in July and June 2020.

August’s export value is also 30.3 percent more than in May 2020 (10.8 million euros) and is 33.6 percent less than in Jan. 2020 (21.3 million euros).

The value of trade turnover between Kazakhstan and Hungary amounted to $84.8 million over the first nine months of 2020, compared to $75.6 million during the same period of 2019.

Kazakhstan’s export to Hungary amounted to $8.1 million over the period from January through Sept. 2020, compared to $8.5 million during the same period of 2019.

In turn, Kazakhstan’s imports from Hungary amounted to nearly $76.7 million over the reporting period, compared to $67.1 million during the same period of 2019.

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