By Kamila Aliyeva
The volume of foreign trade turnover of Kazakhstan in January-October 2017 in monetary terms amounted to $62.1 billion, according to the Committee on Statistics under the Ministry of National Economy, Kazinform reported.
Foreign trade turnover during ten months of the current year increased by 25.6 percent compared to the same period in 2016.
The volume of exports in the reporting period amounted to $38.4 billion, thus registering a rise of 32.5 percent compared to the previous year.
The volume of imports in the reporting period amounted to $23.6 billion, thus showing a 15.8 percent increase compared to 2016.
In 2016, Kazakhstan exported $36.8 billion and imported $25.1 billion, resulting in a positive trade balance of $11.6 billion.
Kazakhstan is the 51st largest export economy in the world and the 48th most complex economy according to the Economic Complexity Index (ECI).
The country has an export-oriented economy which is highly dependent on shipments of oil and related products (73 percent of total exports). Other exports include ferrous metals, copper, aluminum, zinc and uranium.
Main imports are electronics, machinery and mechanical appliances (25 percent of total imports), mineral products (15 percent), transport equipment (12 percent) and base metals and related products (10 percent).
Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
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