The current account of the balance of payments of Kazakhstan has developed with a surplus of $8.5 billion, according to the message of the National Bank of Kazakhstan on the balance of payments for 2022. At the same time, a deficit of $2.6 billion was recorded in 2021.
The transition of the current account from a negative balance to a positive zone is associated with an improvement in the state of the trade balance. Its surplus reached $36.4 billion and significantly improved compared to 2021 by $12.1 billion (by 50%). The growth of the surplus is ensured by the outstripping growth rate of exports of goods over imports.
The export of Kazakhstani goods grew by 30.9% compared to 2021 and reached $86.1 billion. It was supported by strong external demand and high world prices for raw materials, in particular oil.
Imports of goods, in turn, increased by 19.7% to $49.8 billion. This was due to an increase in imports of intermediate and non-food consumer goods.
CentralasianLIGHT.org
April 3, 2023