#Kazakhstan - first trade partner of EU in Central Asia

Kazakhstan is by far the first trade partner of the European Union (EU) in Central Asia, and the EU is Kazakhstan’s first trade partner globally, source in EU told Trend, writes Nargiz Sadikhova.

"Trade and economic relations between the EU and Kazakhstan are good and improving. The EU exported €5.8 billion worth of goods to Kazakhstan in 2018, and imported €20.8bn worth of goods from Kazakhstan," the official said.

The official further noted that while EU exports are rather diversified, the EU imports mostly oil, gas and uranium from Kazakhstan.

Thus, according to the information, value of the EU's import from Kazakhstan increased by 18.2% in 2018 compared to 2017, whereas export increased by 14.2%.

Thus, the largest part of the structure of trade turnover between EU and Kazakhstan is industrial goods turnover. Value of EU industrial goods import from Kazakhstan was €20.527bn during the reporting period, whereas EU export of industrial goods was €5.48bn.

The second place goes to agricultural products, import of which was €262 million during the reporting period and export was €340m.

Furthermore, fishery products are third by the share in trade turnover, the EU import of which amounted to €37m and EU export of which equaled €4m.

Furthermore, according to the standard international trade classification, the largest share of the EU import from Kazakhstan accounts for import of mineral fuels, lubricants and related materials (€18.647bn).

It is followed by import of manufactured goods (€984m), chemicals and related products (€304m), and food and live animals (€163m).

In turn, the largest share of the EU export to Kazakhstan accounts for machinery and transport equipment (€3.011bn). It is followed by chemicals and related products (€1.050bn), manufactured goods (€620m), and food and live animals (€219m).

Furthermore, growth of overall trade turnover between Kazakhstan and the EU over the course of the last ten years (2008-2018) amounted to 13%.