KAZAKHSTAN EXPORT VALUE SEES 24% GROWTH

KAZAKHSTAN EXPORT VALUE SEES 24% GROWTH

The Kazakh Ministry of Industry and Infrastructural Development have announced that the country’s export value amounted to nearly US$55 billion in the first 11 months of 2018. The value is an increase of 24% compared to the same period in 2017. The export of processed products totaled over US$14 billion. The Kazakh Government provides financial and service support to exporters. Last year, the Government held more than 50 foreign exhibitions and trade missions abroad, where Kazakh exporters signed over 100 business contracts. (Experts believe that the values will continue increasing this year).

ZHENIS KASSYMBEK, KAZAKH MINISTER OF INDUSTRY AND INFRASTRUCTURAL DEVELOPMENT

-In 2018, Kazakh products were exported to 119 countries. At the instruction of President Nazarbayev, the Government will allocate additional 500 billion Tenge for the export development in the upcoming three years. These funds will boost the non-resource-based exports. We are aiming to increase the export values of manufacturing products to 720 billion Tenge and the number of exporters from 411 to 600 entities by 2021.

Kazakhstan is currently exporting about 800 types of products to foreign countries. The range of the country’s exported goods is growing every year by about five to eight items. In addition to oil, gas and metals, the best-selling Kazakh products include plastic goods, textiles, vehicles equipment and agricultural goods. Meanwhile in 2018, Kazakh producers exported honey to the United Arab Emirates in industrial scale volume. (In addition), Kazakhstan-made ice cream was also exported to China for the first time last year.