Kazakhstan’s Trade and Foreign Balance on the Rise in 2024, Minister Reveals
Trade Volume in Kazakhstan Sees Significant Increase in 2024
ASTANA — Kazakhstan’s trade volume experienced a notable growth in 2024, increasing by 9.1%, as announced by Minister of Trade and Integration Arman Shakkaliyev during a board meeting on March 5.
According to Shakkaliyev, investments in the trade sector also surged by 14.6%, reaching 884.6 billion tenge (US$1.8 billion). The domestic trade turnover showed robust growth, rising by 14.1% to 69.6 trillion tenge (US$142 billion), as reported by Kazinform.
Foreign trade turnover in Kazakhstan reached $141.4 billion, marking a $1.6 billion increase from the previous year. The foreign trade balance surplus grew by 16%, reaching $21.8 billion. Non-resource exports also saw a rise of 10.7%, totaling $40.2 billion, while the price index for socially significant food products remained low at 1.4%.
Shakkaliyev outlined key priorities for 2025, including the digital transformation of trade, boosting domestic goods production, and enhancing consumer protection and product quality. The ministry aims to support the government’s objective of achieving 6-7% economic growth and doubling the country’s GDP.
The positive growth in trade volume and balance in Kazakhstan indicates a promising outlook for the country’s economy, with efforts towards further development and modernization in the trade sector.
