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Kazakhstan's export to CU countries reached 5-years maximum

18 october 2011, 14:24
0
Oil cisterns. ©REUTERS
Oil cisterns. ©REUTERS
Photo courtesy of kursiv.kz
Photo courtesy of kursiv.kz
Kazakhstan's export to Russia and Belarus made $7 billion during the year of existence of the Customs Union (from July 2010 to June 2011), Tengrinews.kz reports. This is the 5-year's high for export to these countries.

2008 was the previous peak-year. Back then exports to Russia and Belarus made $6.4 billion.

In general, commodity turnover with CU countries have also increased in the last year: it reached $21.7 billion. Compared to the year before creation of the CU, the growth made 43 percent. Commodities turnover in record 2008 was $20.5 billion.

"The highest increase in export of processed goods was registered to CU countries (+45.3 percent), while export to other countries is going down. Another positive effect of the CU is that Kazakhstan is exporting these goods to CU countries faster than importing from these countries: 45.3 percent vs. 42.8 percent,” deputy chairman of KAZNEX INVEST Mairzhan Maikenov said.

Minerals comprise the largest share in the export to Russia and Belarus: 58 percent ($4 billion). These are coal and ores, iron, chrome and copper concentrates, oil products and gases. Second place is held by metals and metal products (rolled metals, ferro alloys, pipes, aluminum, copper, zinc, lead): 28 percent ($1.9 billion). Chemicals represent 9 percent ($618 million) of the total export.

Vehicles and equipment (ball and roller bearings, gates, fittings for pipelines, electric batteries and electric equipment) comprise 3.5 percent ($247 million) of the total export to CU countries. Export of consumables from Kazakhstan to CU countries has tripled: from $63 million to $254 million.

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