Kazakhstan's foreign trade turnover has seen a 22% increase over the year

15 November, 2018, 15:30 334
Kazakhstan's foreign trade turnover has seen a 22% increase over the year

In terms of countries the following countries as Russia (18.8% of the total turnover, Italy (13.8%), China (12.1%) lead.

 

Following the results of eight months, the volume of foreign trade turnover of Kazakhstan has amounted to 59.8 billion dollars - by 21.6% more than in the same period a year earlier. Both exports (+ 28.2%) and imports (+ 10.8%) have increased, according to Energyprom.kz, BNews.kz reports.

In the context of macroregions, the largest volume of trade turnover in Kazakhstan is provided by the countries of Europe (45.4%, or $ 27.2 billion), directly by the EU member states to be precise (92.7% of Europe, $ 25.2 billion), mainly Italy (32.9% of the turnover of Kazakhstan with the EU countries), the Netherlands (18.2%) and France (11.1%).

The next macro-partner region is the CIS states (25.8% of the turnover, $ 15.5 billion). Of these, the EEU states account for 79.3% or 12.3 billion dollars. The largest share is provided by Russia: 92% of the turnover with the EEU states and 18.8% of the total turnover.

The Asian countries (25%, $ 15 billion) close the top three macroregions: mainly China (48.5% of the turnover with Asian countries), the Republic of Korea (14.8%) and Turkey (8.2%).

So, in the context of countries the following states as Russia (18.8% of turnover), Italy (13.8%), China (12.1%) lead. 

It is noteworthy that, despite Russia's leading position in trades, in terms of exports from Kazakhstan, Russia is not among the top three. Italy (19%), the Netherlands (11.2%) and China (9.6%) are in the lead.

However, in terms of imports of products in Kazakhstan, Russia is the undisputed leader (37.7%), followed by China (16.8%), then Germany (5.7%). Also, significant imports into the country come from the United States (4.3%) and Italy (4%).

It is products from Russia making up 93.7% of all imports to Kazakhstan from the EEU countries.

Another 4.5% comes from Belarus. At the same time, Kazakhstan is interested in increasing trade with Belarus. In October of this year in Minsk, a meeting of the Senate of Parliament Kassym-Jomart Tokayev with Chairman of the House of Representatives of the National Assembly of Belarus Vladimir Andreichenko took place. The trade turnover of the two countries is planning to increase to one billion dollars. Belarusian products are in demand in Kazakhstan, especially dairy products and light industry products, and Kazakhstan could also export more of its goods to Belarus, including oil.

From the Russian Federation - the country's main partner in trade, and especially in imports - in Kazakhstan over eight months, products were immediately delivered for $ 7.8 billion, which is 6.2% more than in the same period of 2017.

The key import positions are machinery, apparatus, and equipment: by two billion dollars - by 10.6% more than a year earlier.

The greatest growth is observed in the supply of metals and products from them - by 12.6%, to $ 1.3 billion. This is the second largest import position.

Exports from Kazakhstan to Russia over eight months have increased by 13.3% year-on-year and amounted to 3.4 billion dollars.

The key export position of Kazakhstan in the Russian Federation is mineral products ($ 1.3 billion, + 14.1% for the year, of which $ 459 million are fuel and energy resources). The greatest growth is observed in the field of leather raw materials, fur and products from them (immediately plus 89.2% year-on-year).

In October, the first foreign representative office of KazakhExport, an export insurance company, opened in Kazan, the capital of Tatarstan. The event is timed to the 20th meeting of the Intergovernmental Commission on Cooperation between Kazakhstan and Russia.

According to the head of KazakhExport, Ruslan Iskakov, the opening of the first foreign representative office in the Russian Federation will stimulate mutual trade, and will also provide insurance support to exporters who are ready to develop new markets

KazakhExport focuses on the development of exports of goods manufacturing sectors of the economy, as well as works and services. In the first nine months of this year, the amount of insurance support provided by KazakhExport to Kazakhstani exporters amounted to more than $ 100 million.