The turnover between Kazakhstan and the U.K. has been growing. In the first half of the year, the amount of import and export operations between the two countries rose from $547 million to $912 million, or 67% compared to the same period last year. This sharp increase in mutual trade has a reason: the U.K. has once again added Kazakhstan to the list of oil exporters. Over the first six months of the year, Kazakhstan sent about 520,000 tons of oil products to British customers.
According to the Bureau of National Statistics, the structure of the turnover between Kazakhstan and the U.K. is different for each country. Kazakhstan accounts for 94% of the entire amount of import-export operations between the two countries. In terms of money, Kazakhstan imported just $57.5 million worth of goods from the U.K., while exporting as much as $854.4 million worth of commodities.
The vast majority of Kazakhstan’s export to Britain consists of oil products ($410.9 million). This shows significant growth over the previous years ($58 million in 2019 and $107 million in 2017). Another commodity British consumers are interested in is silver. Over the first six months, they bought $335.6 million worth of silver as well as copper, non-organic products and fertilizers. The bureau has mentioned nineteen commodity items in total.
On the other hand, British exports to Kazakhstan are much more diversified (56 goods items), even though their amount isn’t as impressive ($57.51 million). Moreover, the rate of imports from the U.K. to Kazakhstan was negative in the first half of the year (-17%).
Usually, Kazakhstan actively imports British pharmaceutical and alcoholic products (20% and 14% of all imports respectively). However, in terms of money, these exports have declined this year – by 25% to $11.7 million for drugs and $8 million for English gin and Scottish whisky.
Besides that, Kazakhstani companies purchase from British suppliers sophisticated medical equipment, combustion engines, power converters, clothes, tea and even mineral water.
