Kazakhstan Records Surplus In Its Trade Balance
Date
9/25/2024 1:08:02 AM
(MENAFN- Trend News Agency)
ASTANA, Kazakhstan, September 25. Kazakhstan
recorded a trade surplus of $13.3 billion from January through July
2024, Trend
reports.
According to calculations based on the weekly macroeconomic
review of the European bank for Reconstruction and Development
(EBRD), this indicator increased by 35.7 percent ($3.5 billion)
compared to the same period last year.
The growth in the indicator was primarily fueled by an increase
in the nominal volume of exports by 2.2 percent year-on-year and a
decrease in imports by 6.9 percent. The main factors contributing
to the increase in exports were the supply of energy resources and
chemical products, each of which contributed 1.4 percentage
points.
Additionally, exports were restrained by a decrease in the value
of exported animal and plant products, which reduced the growth
rate by 1.3 percent, as well as a decrease in the supply of
machinery and equipment by 0.4 percent.
The decrease in imports is largely explained by a drop in
imported machinery and equipment, which fell by 5.1 percentage
points, and a decrease in imports of mineral products by 1.6
percent.
The European Bank for Reconstruction and Development (EBRD) is a
multilateral bank that supports private sector development in 36
countries on three continents. Kazakhstan joined the EBRD in 1992.
To date, the EBRD has invested €10.2 billion in 324 projects in
Kazakhstan, with most of those funds supporting private
entrepreneurship, including 113 ongoing projects worth €2.8
billion.
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