Kazakhstan reports fewer imports

According to the Bureau of National Statistics, external turnover of Kazakhstan was $20 billion in January and February 2024, a 3% decrease compared to the same period last year.

This decline in external trade is directly related to a lower volume of imports. For instance, over the first two months of the year, Kazakhstan purchased goods for $8 billion, a 7.4% decrease over last year. Among key importers to Kazakhstan are Russia (28%), China (25.7%), Germany (5.3%), the U.S. (4.3%), South Korea (3.4%) and Turkey (3.3%).

For example, Kazakhstan purchases foreign cars (4%), medicines (3.3%), mobile gadgets (3%), vehicle bodies (2.5%) and other spare parts (1.9%). 

At the same time, Kazakhstan reported a 0.4% increase in exports. It reached $12.2 billion. In January and February, Kazakhstan primarily exported oil and oil products (59.8%), refined copper and alloys (5.8%), copper ore and concentrates (4%), radioactive chemical elements (2.7%) and ferroalloys (2.1%). 

The main purchasers of Kazakhstani resources are Italy (21.3%), China (18.5%), Russia (10.3%), France (6.9%), Turkey (4.8%) and the Netherlands (4.6%).

The turnover with the Eurasian Economic Union member states has also dropped. In January-February, this figure was at $3.8 billion ($1.4 billion in exports and $2.4 billion in imports), which is an 11.2% decrease compared to last year. Russia (92%) and Kyrgyzstan (5.2%) are key trading partners of Kazakhstan within the regional organization.