Kazakhstan’s Bureau of National Statistics reported $141.1 billion in external trade turnover in 2024, a 1.3% increase over 2023. The country’s exports increased by 3.1% to $81.6 billion year-on-year (YoY), while imports slightly declined by 1% to $59.7 billion.
Kazakhstan’s main export destinations include:
- Italy: $18.66 billion, 22.9% (+$3.8 billion YoY);
- China: $14.89 billion, 18.3% (+$231.3 million YoY);
- Russia: $9.54 billion, 11.7% (-$660.9 million YoY);
- The Netherlands: $5.29 billion, 6.5% (+$1.23 billion YoY);
- France: $3.68 billion, 4.5% (+$739.1 million YoY).
Kazakhstan imports from:
- Russia: $18.2 billion, 30.5% (+$1.4 billion YoY);
- China: $15.15 billion, 25.3% (-$235.7 million YoY);
- Germany: $2.83 billion, 4.7% (-$197.8 million YoY);
- The U.S.: $2.24 billion, 3.8% (-$300.4 million YoY);
- South Korea: $1.9 billion, 3.2% (-$300.8 million YoY).
Since Kazakhstan has boosted its imports from Russia, the trade imbalance — the difference between export and import values — between the two countries increased from $6.6 billion to $8.7 billion.
«This indicates that dependence on price shocks in Russia, all else being equal, will increase due to the rise in the import ratio, which has now exceeded the 30% mark,» Galymzhan Aitkazin, author of the Tengenomika Telegram channel, posted.
Kazakhstan’s export profile primarily consists of products of animal and plant origin ($5 billion in 2024), minerals and energy products ($51.8 billion in 2024), metals ($10.9 billion in 2024), chemical industry products ($7 billion in 2024), as well as machinery and equipment ($4.7 billion in 2024).
The country primarily imports machinery and equipment ($25.6 billion in 2024), chemical industry products ($9.45 billion in 2024), products of animal and plant origin ($6.7 billion in 2024), metals ($5.8 billion in 2024) and textiles ($3.4 billion in 2024).
