Ministry of Trade and Integration reported that trade turnover between Kazakhstan and the European Union countries in January-February 2022 amounted to $6 billion, which constitutes a 70.9% increase, Tengrinews writes.

Statistics

According to JSC QazTrade MTI, during the same period last year, the volume of mutual trade amounted to only $3.5 billion.

Exports from Kazakhstan to the EU in January-February 2022 increased by 84.4% to $5.2 billion. Imports to Kazakhstan from the EU increased by 14% to $767.5 million.

The growth in exports to the EU countries is due to an increase in supplies, including crude oil, ferroalloys, petroleum products, natural gas and wheat. Main goods imported into Kazakhstan consists of vaccines, gas turbines, vacuum pumps, computing machines, pipeline valves and telephone sets among others.

The increase in exports to the EU is due to an increase in shipments of:

crude oil by 81.2 percent to $4.6 billion;

ferroalloys by 2.5 times to $96.3 million;

unprocessed aluminum 2.5 times to $58 million;

wheat 13.2 times to $31.7 million;

petroleum products 40.4 times to $94.6 million;

natural gas by 4.3 times to 35.5 million dollars.

The main goods imported into Kazakhstan from the EU countries are:

drugs packaged for retail sale;

vaccines, blood serums, blood;

turbojet and turboprop engines, gas turbines;

air or vacuum pumps, compressors and fans;

computing machines;

pipeline valves;

telephone sets;

ferrous metal products.

Indicators of EU trading partners

The list above shows the sum of exports between Kazakhstan and trading partner countries in the European Union. Italy is the top trading partner, comprising 40% of the country's EU exports. Netherlands and France take second and third place respectively, followed by Spain, Greece, Romania, Germany, Poland, Lithuania, Croatia, Belgium, Finland, Czech Republic, Ireland, Switzerland and others.