Kazakhstan’s exports outpace imports fourfold: what is behind $103bn in trade?

Kazakhstan’s Trade and Integration Ministry reported on October 17 that merchandise trade reached $103 billion in January–August, up 12.8% from a year earlier. Exports rose 19.5% to $60.4 billion while imports grew 4.5% to $42.6 billion. The surplus was $17.8 billion, compared with $9.8 billion a year ago. These are eight-month figures released now, not a one-day result.

What drove exports?

Sunflower oil exports reached $672.8 million, up 48.5%, the ministry said. Wheat brought in $1.25 billion (+26.5%) and flour $400 million (+36%). Copper and cathodes reached $3.9 billion and uranium $3.1 billion. The basket spans processed farm goods and raw materials.

What came in?

Imports of electricity-generating equipment reached $916.5 million. Such purchases may support future productivity, but they do not prove that new capacity is already operating. China remains the largest overall trading partner; Italy is the largest buyer of Kazakh exports.

A positive trade balance means goods sold abroad were worth more than goods purchased abroad. It does not measure supermarket prices, real wages or how export income is shared. To judge the effect on households, inflation, incomes and the composition of exports also matter.

Source: https://www.gov.kz/org/mti/press/news/details/1312780.