Kazakhstan’s exports exceeded US $50bn in 2018

30 January, 2019, 15:12 625
Kazakhstan’s exports exceeded US $50bn in 2018

Exports of processed products amounted to US $14.3 billion in Kazakhstan.

Within 11 months of 2018, the number of exports rose by 26% and accounted to US $54.7 billion in Kazakhstan, Kazakh Minister of Industry and Infrastructure Development Zhenis Kassymbek told at an expanded session of the Kazakh Government involving the Head of State, BNews.kz correspondent reports.

The Minister has noted exports of processed products amounted to US14.3 billion.

“In 2018, products were exported to 119 countries from Kazakhstan. Your [addressing to the Kazakh President] decision on the allocation of an additional KZT500 billion for the next three years will give a new impetus to the development of non-primary exports, increasing exports of processed products to KZT820 billion, the number of exporters from 411 to 600 subjects by 2021,” said Zhenis Kassymbek.

According to the Minister, KZT400 billion will go to the production of around 250 manufactured goods consumed by Kazakh citizens on a daily basis as well as reduce the current import share of the said goods (80%) to 50% in the next 1.5-2 years.