Kazakhstan’s export scale has returned to pre-epidemic levels

Kazakhstan's export scale has returned to pre-epidemic levels

According to data released by the National Bureau of Statistics of Kazakhstan, from January to August 2021, Kazakhstan realized US$37.4 billion in exports of goods trade, an increase of 17.6% over the same period of the previous year (US$31.8 billion), basically returning to the same period in 2019 before the epidemic. Level (37.6 billion US dollars). Since imports of goods trade only increased by 2% during the same period, the proportion of exports in Kazakhstan’s foreign trade rose from 57% to 60%.

According to data from the Kazakhstan Trade Policy Development Center Joint Stock Company (QazTrade), raw materials still dominate Kazakhstan’s exports, accounting for 68%. Manufactured products accounted for 32% of exports, of which high-end products accounted for only 6%. The export growth mainly came from the increase in crude oil export revenue. From January to August, Kazakhstan’s crude oil exports amounted to 19.2 billion U.S. dollars. With the exception of crude oil, almost all types of bulk commodity exports have shown a growth trend, with only natural gas (-33%), precious metal ore and concentrates (-4.6%) falling. Among non-raw material commodities, only uranium exports fell sharply by 44%. During the statistical period, Kazakhstan’s largest export destination was EU countries, with exports reaching 14.7 billion U.S. dollars, an increase of 30% year-on-year; the second-largest export destination was China, with exports of 6.4 billion U.S. dollars. The main export commodities included ore, crude oil, natural gas and Copper; the member states of the Eurasian Economic Union ranked third, with exports of 4.9 billion US dollars, an increase of 38%.

In the first half of 2021, Kazakhstan achieved exports of 27 billion US dollars, a year-on-year increase of 2.7%.