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Kazakhstan boosts oil, petroleum product exports to Italy over past five years

Kazakhstan Materials 9 April 2024 05:21 (UTC +04:00)
Madina Usmanova
Madina Usmanova
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ASTANA, Kazakhstan, April 9. Kazakhstan exported 24.2 million tons of oil and petroleum products worth $14.4 billion to Italy in 2023, Trend reports.

According to the State Revenue Committee of the Ministry of Finance of Kazakhstan, compared to 2019, the volume of exports increased by 41.7 percent, and in monetary terms, the growth was 76.6 percent.

Export dynamics from 2019 through 2023:

Year Volume Amount Difference in volume and amount by 2019
2019 17.07 million tons $8.2 billion - - - - - - - - - - - - - - - - - - - -
2020 19.6 million tons $6.5 billion +15.1 percent/-20.3 percent
2021 17.9 million tons $8.6 billion +4.9 percent/+5.1 percent
2022 18.2 million tons $13.3 billion +6.7 percent/+62.4 percent
2023 24.2 million tons $14.4 billion +41.7 percent/+76.6 percent

Meanwhile, the volume of trade turnover between Kazakhstan and Italy amounted to $16.071 billion in 2023, which is 7.8 percent more than in 2022 ($14.9 billion).

At the same time, 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).

In addition, 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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