Trade turnover between Kazakhstan and EAEU member states grows by 28% over the year

The trade turnover of Kazakhstan grew by almost 17.5 percent and reached US$101.5 billion in 2021, whereas more than a quarter of the country’s total trade volume accounted for EAEU countries, exceeding 26 billion in US currency, finprom.kz reported. The share of the country’s exports in trade with the member countries of the Eurasian Economic Union amounted to slightly less than 30 percent. Of these, Russia accounted for over 90 percent, or about US$7 billion. In the composition of exports, most of all, Kazakhstan supplied flat-rolled products made of iron and stainless steel, iron ore, inorganic chemistry products, compounds of precious metals, rare earth metals and ferrous metal scrap to the neighboring state. The volume of exports from Kazakhstan to the rest of the EAEU member states was distributed as follows: US$625 million accounted for Kyrgyzstan, US$97 million for Belarus, about US$9.5 million for Armenia. Imports from the EAEU countries to Kazakhstan also increased by a little over 25 percent in total.

Translation by Saniya Sakenova

Editing by Galiya Khassenkhanova