Kazakh foreign trade surplus plummets over 60% to $11.2bn in Jan-Aug

By bne IntelliNews October 27, 2015

Kazakhstan’s foreign trade surplus shrank drastically to $11.2bn in January-August, the State Statistics Committee has informed. In the same period of the previous year, trade surplus stood at $28.4bn. The main reason for such a huge decrease is a decline in the price of oil, the main commodity exported by Kazakhstan, which generated around two-thirds of the country’s total export revenues last year.

According to the data, exports slumped by 41.8% y/y to $32bn while imports went down by 21.8% y/y to $20.8bn.

Despite these changes, the structure of the foreign trade partners remained unchanged. Kazakhstan exports mainly to Italy (a 18% share in total exports). Then comes China with 11.9% share, Netherlands (11.5%), Russia (9.6%) and France (5.9%). Interestingly, the share of Russia increased from around 6% last year. This is a result of a change in the structure of exports – Russia does not import oil from Kazakhstan, which is cheap now, but it mainly purchases machinery and chemical products.

Imports to Kazakhstan came traditionally from Russia (a 33.7% share in total imports), China (17.2%), Germany (6.1%), the USA (4.8%) and Italy (3.8%).

The low price of oil is projected for the next two years which means that Kazakhstan’s foreign trade surplus will continue to shrink at least until the end of the year. 

Related Articles

Ukraine's central bank cuts key policy rate to 12.5%

The National Bank of Ukraine (NBU) will cut its key policy rate by 0.5 percentage points to 12.5% per annum from May 26. The move is consistent with the pursuit of inflation ... more

World Bank forecasts a 0.4% y/y decline in Belarus's GDP for 2017

The Belarusian economy will decline by 0.4% year-on-year in 2017, followed by a modest growth of 0.7% in 2018 and 1.2% in 2019, the World Bank forecasts in its Belarus Economic Update published on ... more

EIB and Belarus sign Framework Cooperation Agreement

The European Investment Bank (EIB) and Belarus inked the Framework Agreement on Cooperation on May 15, which paves the way for the lender to invest up to €200mn in Belarusian projects, the Foreign ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss