QazTrade has unveiled the primary non-oil exports of Kazakhstan in 2023
QazTrade's Trade Policy Development Center has revealed the main non-oil exports of Kazakhstan for the year 2023, as reported by Kazinform on February 26th.
In 2023, Kazakhstan's non-oil exports were dominated by various categories:
Inorganic chemical products, including uranium, aluminum oxides, inert gas, chromium oxides, phosphoric acids, and carbides, totaled $4.3 billion in export value.
Ferrous metals, such as ferroalloys, hot-rolled steel, cold-rolled steel, clad steel, semi-finished steel, and steel rods, amounted to $4.1 billion. Copper and copper products, particularly copper cathodes, contributed $3.2 billion to the export value.
Equipment and mechanical devices, including fuel rods, bearings, road and construction equipment, and pipeline fittings, accounted for $1.8 billion. Mineral fuels, primarily petroleum products and natural gas, were exported at a value of $1.6 billion.
Electrical machinery and equipment were exported worth $1.2 billion, while precious metals contributed $1.1 billion to the export value.
Despite these significant exports, some categories experienced a decline in export volumes in 2023, mainly due to falling export prices:
Unrefined oil exports saw a 31% decline in euros or 28% in tenge since October 2022, affecting overall export revenues.
Flour exports, despite a 2% increase in physical volume, experienced a decrease in export prices.
Sulfur exports witnessed a 13% growth in physical volume but suffered a threefold decrease in average prices compared to 2022.
Reduced domestic liquefied gas availability led to a reduction in gas exports. Raw aluminum exports to the EU decreased by 30% due to lower production volumes caused by high energy prices.
Ferroalloys exports decreased due to reduced imports from Indonesia, Japan, Russia, and the United States.
Petroleum products exports to the Netherlands and Türkiye declined by 37.1% due to sourcing goods from nearby countries or import substitution.
Falling world prices and reduced imports by Türkiye and Russia contributed to the decline in raw zinc exports.(Source:astanatimes)
