Kazakhstan’s exports of non-raw material goods increased by 34.7%
International Business News – The Ministry of Trade of Kazakhstan quoted data from the QazTrade Center showing that from January to May 2022, the trade volume of non-resource commodities in Kazakhstan was 25.3 billion US dollars, an increase of 20.4% over the same period of the previous year (21 billion US dollars). During the same period, the export value of Kazakhstan non-resource commodities increased by 34.7%, reaching 9.7 billion US dollars.
It is reported that the main reason for the increase in exports is the increase in the export of non-raw material commodities, such as: ferroalloys (up 61.1%), uranium (up 2.6%), copper and cathode copper (up 25.3%), wheat or mixed wheat flour flour (up 86%), unprocessed zinc (up 42%), alumina and aluminium hydroxide (up 89.2%), sulphur (except sublimed, precipitated or colloidal sulphur) increased 3.5 times.
From January to May 2022, Kazakhstan’s imports of non-raw material goods increased by 12.9% to $15.5 billion. The increase in imports was mainly attributable to the increase in the import volume of the following goods, such as: automobile bodies (2.4%), pharmaceuticals, retail prepackages (41.6%), other ferrous metal products (up 2.2%), spare parts for automobiles and tractors (up 45.1%) , spark-ignition internal combustion engines (up 2.3%), telephones (up 21.9%), and air-conditioning equipment (up 2.6%).
Overall, according to data from the Kazakhstan Ministry of Trade, Kazakhstan’s total import and export trade from January to May 2022 was US$51.3 billion, an increase of 40.7% over the same period of the previous year (US$36.5 billion). Earlier it was reported that Kazakhstan’s total foreign trade increased by 41% from January to April this year, reaching 39.7 billion US dollars, and the sharp jump in the index was due to the increase in exports.