Kazakhstan Sets Record High for Uranium Exports in 2023
Kazakhstan Experiences Record-Breaking Uranium Exports in 2023
Astana, Kazakhstan – Kazakhstan has reported a significant increase in processed uranium exports in the first ten months of 2023, reaching a record-breaking value of $2.46 billion. This represents a notable 33% surge compared to the same period in the previous year, according to a report by the First Credit Bureau Data Hub Telegram channel on December 19th.
The reported figures indicate the highest value recorded since at least 2015, highlighting Kazakhstan’s substantial growth and prominence in the uranium export market. China has been identified as the primary driver behind this surge, with remarkable growth in uranium imports from Kazakhstan. From January to October 2023, Kazakhstan shipped uranium worth $922.7 million to China, marking a tremendous 2.2-fold increase compared to the same period in 2022. Notably, October alone accounted for 28% of the total annual volume, reaching $258 million—an outstanding ninefold increase compared to October 2022.
In addition to China, there has also been substantial growth in uranium exports to Russia. Over the ten months of 2023, uranium exports to Russia approached $1.2 billion, reflecting an impressive 72% year-on-year increase. This substantial uranium export growth to China and Russia effectively compensated for a decline in another crucial export direction—Canada. Uranium deliveries to Canada during the same period were $168.5 million, marking a significant 70% decrease compared to the previous year.
The exceptional performance in the uranium market underscores Kazakhstan’s increasing influence in the global uranium trade, as well as its ability to adapt to changing export dynamics. With rising demand from China and Russia, Kazakhstan is poised to maintain its position as a key player in the uranium industry, further solidifying its status as a major uranium exporter on the world stage.
