BAKU, Azerbaijan, Sept. 22
Trend:
Kazakhstan exported machine-building products worth $741.8 million from January through July 2021, which is 33.6 percent more than over the same period of 2020, Trend reports, referring to the statement of Vice-Minister of Trade and Integration of the Republic of Kazakhstan Zhanel Kushukova during the Forum of Machine Builders of Kazakhstan.
The main markets for machine-building products manufactured in Kazakhstan are the CIS countries, as well as a number of EU countries, the US and the UK. The top five importers in 2021 included Russia, Uzbekistan, Kyrgyzstan, Belgium and Turkmenistan, she said.
Due to the growth of production, Kazakhstan expects that to reach the volume of exports of machine-building products up to $2.9 billion in 2025, the vice minister said.
At the same time, the most export-oriented products of the machine-building industry are bearings, of which about 93 percent are exported.
"We see good demands in foreign markets for domestic electric batteries, 72 percent of which are exported, as well as electric transformers, half of which are also exported,” she said.
“Concerning the Russian market, about 96 percent of all imports of tank cars are of Kazakh production. Almost 45 percent of the Russian import of bearings is also occupied by domestic goods.
“Kazakhstan's capacitors account for more than half of the imports of similar goods imported to the Uzbek market. Kazakhstan has already established good relations with Uzbekistan in the development of the domestic automotive industry," the representative of MIT said about the potential of Kazakh manufacturers in international trade.