Astana -9 °С
Almaty -3 °С
Exchange rates
USD 421.58
EUR 496.83
RUB 5.53
CNY 62.20

Kazakhstan - first trade partner of EU in Central Asia

18 October 2019 14:50

NUR-SULTAN. KAZINFORM - Kazakhstan is by far the first trade partner of the European Union (EU) in Central Asia, and the EU is Kazakhstan’s first trade partner globally, source in EU told Trend.

«Trade and economic relations between the EU and Kazakhstan are good and improving. The EU exported 5.8 billion euros worth of goods to Kazakhstan in 2018, and imported 20.8 billion euros worth of goods from Kazakhstan,» the official said.

The official further noted that while EU exports are rather diversified, the EU imports mostly oil, gas and uranium from Kazakhstan.

Thus, according to the information, value of the EU's import from Kazakhstan increased by 18.2 percent in 2018 compared to 2017, whereas export increased by 14.2 percent.

Thus, the largest part of the structure of trade turnover between EU and Kazakhstan is industrial goods turnover. Value of EU industrial goods import from Kazakhstan was 20.527 billion euros during the reporting period, whereas EU export of industrial goods was 5.480 billion euro.

The second place goes to agricultural products, import of which was 262 million euros during the reporting period and export was 340 million euros.

Furthermore, fishery products are third by the share in trade turnover, the EU import of which amounted to 37 million euros and EU export of which equaled 4 million euros.

Furthermore, according to the standard international trade classification, the largest share of the EU import from Kazakhstan accounts for import of mineral fuels, lubricants and related materials (18.647 billion euros).

It is followed by import of manufactured goods (984 million euros), chemicals and related products (304 million euros), and food and live animals (163 million euros).

In turn, the largest share of the EU export to Kazakhstan accounts for machinery and transport equipment (3.011 billion euros). It is followed by chemicals and related products (1.050 billion euros), manufactured goods (620 million euros), and food and live animals (219 million euros).

Furthermore, growth of overall trade turnover between Kazakhstan and the EU over the course of the last ten years (2008-2018) amounted to 13 percent.

Keywords: Kazakhstan and EU, Economy,