BAKU, Azerbaijan, March 17. Trade turnover between Kazakhstan and the Eurasian Economic Union (EAEU) amounted to $2.13 billion in January 2023, which is an increase of 19.1 percent in year-over-year terms, Trend reports, citing the Bureau of National Statistics of Kazakhstan.
Kazakh exports amounted to $932.7 million, an increase of 52.9 percent, while import figures increased by 1.7 percent to reach $1.19 billion.
Russia remains Kazakhstan’s top trade partner among the EAEU countries, with 92 percent of Kazakhstan’s overall trade being carried out with its northern neighbor. Kazakh exports to Russia amounted to $869.6 million, compared to 570.3 million in January 2022. Imports from Russia decreased slightly to $1.09 billion, from $1.1 billion a year prior.
Kyrgyzstan is the second-largest trade partner of Kazakhstan, with Kazakh exports amounting to $50.6 million in January 2023, which is an $18 million increase year-over-year. Imports from Kyrgyzstan increased by $6.5 million, reaching $38.4 million in the process.
Kazakhstan’s exports to Belarus increased by $4.5 million to $11.3 million, while the overall value of imported goods from Belarus amounted to $58.7 million.
Meanwhile, Armenia retained the status of the bloc's smallest trade partner vis-à-vis Kazakhstan. Kazakh exports to Armenia amounted to $1.2 million, and imports from the South Caucasus country reached $1.3 million.
Kazakhstan’s key exports include chemical production, various machinery, and appliances. Meanwhile, agricultural goods were the major category of imports.
The EAEU is an economic union aiming to stimulate international cooperation between the member countries in various sectors. The bloc consists of five states, including Russia, Kazakhstan, Kyrgyzstan, Belarus, and Armenia.
The union aims to integrate the economies of the said countries via various mechanisms to unlock their economic potential.