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Kazakhstan's trade turnover with EU countries surges over past 5 years

Kazakhstan Materials 8 April 2024 14:34 (UTC +04:00)
Madina Usmanova
Madina Usmanova
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ASTANA, Kazakhstan, April 8. Kazakhstan's trade turnover with the EU countries amounted to $42.6 billion from January through December 2023, which is 1.7 percent more than in 2022, Trend reports.

Data from the country's Bureau of National Statistics shows that in the structure of trade turnover, exports to the EU countries for the above period amounted to $31.7 billion, which is 6.4 percent less than from January through December 2022 ($33.8 billion).

In addition, imports from the EU countries from January through December 2023 increased by 36.1 percent and amounted to $10.9 billion. In 2022, imports amounted to $8 billion.

Moreover, compared to 2019, trade turnover between Kazakhstan and the EU countries has increased significantly.

Dynamics of trade turnover growth compared to 2019:

Year Volume Dynamics
2019 $31.5 billion - - - - - - - - - -
2020 $24.8 billion -21 percent
2021 $30.07 billion -4.6 percent
2022 $41.8 billion +32.8 percent
2023 $42.6 billion +35.1 percent

Meanwhile, Italy remained Kazakhstan’s largest trading partner among EU countries throughout this period. At the same time, the volume of trade turnover between Kazakhstan and Italy amounted to $16.071 billion in 2023. The volume of trade turnover increased by 7.8 percent compared to the same period in 2022 ($14.9 billion).

In the structure of trade turnover, exports to Italy for the above period amounted to $14.883 billion, which is 7.44 percent more than from January through December 2022 ($13.853 billion).

Moreover, imports from Italy from January through December 2023 increased by 17.3 percent and amounted to $1.237 billion. In 2022, imports amounted to $1.054 billion.

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