Kazakhstan significantly increases import of machinery, transport equipment from EU

ASTANA. KAZINFORM The value of Kazakhstan's imports of machinery and transport equipment from the EU increased 2.13 times in 2022 compared to 2021.

According to Eurostat, the statistical office of the EU, in 2022, Kazakhstan imported machinery and transport equipment worth 5.2 million euros from the EU, while in 2021, this figure stood at 2.4 million euros, Trend.az reports.

For over the past 10 years, the lowest value of imported machinery and transport goods by Kazakhstan was recorded in 2017, when Kazakh imports from the EU amounted to just 2.1 billion euros.

Meanwhile, the EU also increased its imports of machinery and transport equipment from Kazakhstan last year. As such, Kazakhstan exported to the EU goods worth 73.7 million euros in 2022, which is 21.2 percent more than 60.6 million euros in 2021.

Overall, the EU is Kazakhstan’s biggest trading partner. In 2022, the trade turnover between the EU and Kazakhstan reached 40.2 billion euros, a 74 percent increase compared to 2021. The EU is also one of the largest foreign investors in Kazakhstan, with the investment value reaching $12.5 billion in 2022 (a 23 percent increase year-on-year).

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