Kazakhstan reduces exports by 18% in nine months

Exports from Kazakhstan in January-September of this year compared with the same period last year decreased by 18.2%, to %35.3 billion. The decline in exports is associated with a decrease in the export of oil and gas condensate, the press service of the National Bank said on December 30.

Imports of goods decreased by 9.6% to US $26.4 billion. The decrease in imports is due to the decrease in the import of investment and intermediate goods.

As a result, the trade surplus decreased by 36% and amounted to $9 billion.

At the end of 9 months of 2020, income payable to foreign direct investors decreased by 36.8%, to %10.2 billion, influenced by the decline in oil prices and the COVID-19 pandemic.

The net inflow of capital to the financial account (excluding operations with the reserve assets of the National Bank) for 9 months of 2020 amounted to $ 9.3 billion, for 9 months of 2019 – a net outflow of $2.3 billion. The inflow was mainly ensured by the continuation of financing the implementation of the future expansion of Tengizchevroil LLP, the placement of sovereign bonds by the Ministry of Finance and the operations of the National Fund.