As previously reported, Kazakhstan’s foreign trade turnover in January-September 2022 was USD 98.4 bln, 35% more than in January-September 2021 (USD 72.9 bln).
The nominal exports in Kazakhstan amounted to USD 63.8 bln, 47.5% more than in the first nine months of 2021 (USD 43.3 bln). However, according to ERI calculations, the real growth of RK exports (IAV) is about 2.8-3%, which means that the current increase was possible due to high prices for our main export items. For example, oil supplies in tons increased by only 1.6% and export revenues by 63.4%.
In terms of countries, exports to Italy rose 84% to USD 11.2 bln, to China 43% to USD 10.3 bln, to Russia 15% to USD 5.9 bln, to the Netherlands 24% to USD 4.1 bln, to Korea 2.9 times to USD 3.6 bln, to Turkey 71% to USD 3.6 bln and to Uzbekistan 36% to USD 2.6 bln.
Note that Kazakhstan’s exports for the first 9 months of 2022 (USD 63.8 bln) exceeds the annual volume of deliveries of the previous 7 years. The annual volume was last higher in 2014 (USD 79.5 bln).
The value imports to RK are also growing, for the first nine months, the growth was USD 34.6 bln, an increase of 16.5% over last year’s figures.
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