Kazakhstan's Export Revenue Declines by Over $4 Billion

Kazakhstan's export earnings have suffered a significant decline, with a calculated loss of approximately $4.1 billion in foreign currency revenue. This downturn is attributed to reduced external supplies of key commodities.

The primary contributors to the drop were decreased shipments of crude oil (-7%), uranium (-8.1%), copper cathodes (-2.2%), copper ores (-9.3%), and ferroalloys (-15.5%). The cumulative effect of these reductions has substantially impacted the nation's trade balance.

Four regions account for nearly two-thirds of the country's total export revenue: Atyrau Region leads with 36%, followed by Astana (12%), with West Kazakhstan Region and Almaty each contributing 8%.

The export landscape shows a regional divide. While industrial areas experienced declines, several agricultural regions posted growth last year. North Kazakhstan Region saw a 38% increase, driven by exports of feed and grain. Almaty Region (28%) and Kostanay Region (13%) also boosted their exports through processed goods and agricultural products.

In contrast, industrial regions recorded significant drops. Aktobe Region's exports fell by 27%, primarily due to lower shipments of ferroalloys and ores. Mangystau Region experienced a 21% decline, linked to reduced exports of oil and nitrogen fertilizers.

The overall dynamics of Kazakhstan's foreign trade indicate a weakening trend. A 3.2% contraction in exports, coupled with a simultaneous 7.4% acceleration in imports, has led to a sharp reduction in the trade surplus. The surplus narrowed to $14.2 billion from $21.3 billion the previous year, representing a decrease of 33.3%.