Kazakhstan's foreign trade turnover for 1H24 reached $66.8bn, marking a 2.1% decrease compared to the same period last year, the Bureau of National Statistics reports. The decrease in total trade turnover is attributed to a decline in imports, despite a slight increase in exports. Export figures grew by 2.1%, totalling $39.3bn, while imports fell by 7.6%, amounting to $27.6bn.
Kazakhstan’s principal export markets include Italy, China, and Russia, which together account for 53.1% of the nation's exports. Other notable trade partners are the Netherlands, France, and Turkey.
Key export products are dominated by crude oil and oil products, constituting 55.9% of total exports. Other significant exports include refined copper and unprocessed copper alloys (5.1%), radioactive elements and isotopes (4.6%), copper ores and concentrates (4.2%), and ferroalloys (2.9%).
Kazakhstan’s main import sources are Russia, China, and Germany, which collectively provide more than half (58.2%) of the country’s imported goods. Additional suppliers include the U.S., South Korea, and Turkey. Meanwhile, the primary imports are passenger cars (4%), pharmacy products (3.8%), aerial vehicles (3.1%), mobile phones (2.8%), and vehicle bodies (2%).
Trade turnover with the Eurasian Economic Union (EEU) member states declined by 10.4%, totalling $13.3bn. Exports to EEU countries decreased by 18% to $4.8bn, while imports fell by 5.4% to $8.4bn.
The decline in trade with Russia, which constitutes 91.3% of Kazakhstan’s trade with EEU member states, is notable. Kazakhstan's imports from Russia decreased by 19.8%, and exports to Russia fell by 4.2%. Other EEU trade partners include Kyrgyzstan, Belarus, and Armenia.
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