Kazakhstan’s Foreign Trade Reaches Record-High Level in 2022

Kazakhstan’s foreign trade turnover hit a record high of $134.4 billion in 2022, a rise of 82 percent over 2021 and four times that of 2020, reported the Ministry of National Economy on Feb. 15.

Export volumes reached $84.4 billion in the reporting period, growing by 40 percent in 2021 and 78 percent in 2020.

The surge in oil and metals exports was the growth’s primary driver. Thus, revenues from oil sales increased by 51 percent to $46.9 billion, copper by 15 percent to $3.7 billion, ferroalloys by 51 percent to $3.4 billion, uranium by 95 percent to $3.4 billion, and copper ores by 51 percent to $2.4 billion.

Kazakhstan’s exports of wheat grew by 37 percent, oil products by 73 percent, zinc by 43 percent, and sulfur by 91 percent.

In 2022, the country’s import volumes reached $50 billion for the first time, surpassing a 2013 record of $48.8 billion. Compared to 2021, the figure increased by 21 percent.

Photo credit: Kazakh Ministry of National Economy.

Source Link