Kazakhstan's foreign trade remains on growth path
Significant impetus for growth comes mainly from the increase in GDP and the favorable investment climate, as well as from the increase in income growth, which significantly boosts consumption.
Kazakhstan's economy looks increasingly optimistic in 2018. This has a positive effect on foreign trade. The explicit investment inclination and increased consumption are driving up Kazakhstan's import demand. In the first quarter of 2018 alone, imports of goods were nominally one fifth higher than in the same period of 2017. For the full year 2018, the government expects imports of US $ 34.7 billion. Exceeding the $ 40 billion mark is expected by 2022. Germany is the third largest supplier country after Russia and China. When it comes to German exports, machinery and equipment account for about one third.
On the export side, mineral products and metals / metalware are strengthening their dominant role thanks to rising global market prices. Their contribution to Kazakhstan's total exports increased by five percentage points between 2016 and 2017 to just under 87 percent. The export earnings, which had previously been under pressure due to the fall in the price of raw materials, are rising again. According to the government's forecasts for 2018, these taxes are valued at just under $ 54 billion, and by 2022, well over $ 66 billion will be achievable. The export record was marked in 2013 with nearly 85 billion US $.