BAKU, Azerbaijan, April 14. Trade turnover between Kazakhstan and the Eurasian Economic Union (EAEU) member states increased by 5.9 percent year-over-year, reaching $4.13 billion from January through February 2023, Trend reports, citing the Bureau of National Statistics of the Agency for Strategic Planning and Reforms of Kazakhstan.
Kazakh exports amounted to $1.65 billion, which constitutes a 33.9-percent increase, while imports reduced by 7.1 percent, reaching $2.48 billion.
Among the EAEU member states, Russia remains Kazakhstan’s top trade partner, with 92.6 percent of the total trade. Kazakh exports to Russia increased to $1.52 billion from $1.14 billion a year earlier.
Simultaneously, the value of Russian goods imported to Kazakhstan reduced to $2.3 billion from $2.5 billion. The share of other states is considerably smaller, however. Trade with Kyrgyzstan amounted to 4.1 percent of the total, while the share of Belarus and Armenia reached 3.2 percent and 0.1 percent.
In terms of exports, Kazakh chemical production exports increased by 5.6 times, thus exhibiting the most impressive growth. On the other end of the spectrum, or exports decreased by 82.6 percent.
Overall, Kazakhstan demonstrates significant trade turnover. Yesterday, it was reported that Kazakhstan’s total trade turnover amounted to $134.4 billion in 2022, which is a 32.1 percent increase compared to 2021.