Kazakhstan aims to take joint efforts to diversify trade flows and increase the volume of mutual trade with partner countries from the Economic Cooperation Organization (ECO), the Kazakh Ministry of Trade and Integration told Trend. According to the ministry, the trade turnover between Kazakhstan and the ECO countries from January through September 2021 amounted to $8.2 billion, which is 21.4 percent more than in the same period of 2019 ($6.7 billion). Meanwhile, exports from Kazakhstan to the mentioned countries grew by 14.8 percent and equaled $2.3 billion, the ministry said.
Besides, the ministry reminded that the trade turnover between Kazakhstan and the ECO countries in 2020 made up $8.8 billion, which is 7.2 percent lower than a year ago ($9.5 billion). Exports from Kazakhstan to the ECO countries in 2020 decreased by 2.9 percent and amounted to $6.5 billion, while imports equaled $2.3 billion, thus lowering by 17.5 percent.
The main goods exported from Kazakhstan to the ECO countries are crude oil (with a share of 20 percent), wheat (14.3 percent), copper and copper cathodes (7.3 percent), and wheat flour (4.5 percent), the ministry further said.
Natural gas (4.1 percent), raw aluminum (four percent), semi-finished products from unalloyed steel (2.6 percent), floating special purpose vehicles (2.5 percent), and petrochemicals (2.5 percent) are also the main export goods, the ministry added. “At the same time, the structure of mutual trade has shifted towards raw materials. In this regard, Kazakhstan proposed to take joint efforts to diversify trade flows and increase the volume of mutual trade,” concluded the ministry.
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