ASTANA – The trade volume between Kazakhstan and the United Kingdom (UK) grew by 63.3 percent reaching £2.3 billion (roughly US$2.6 billion), according to the Trade and Investment Factsheet released by the UK Department for International Trade on Nov. 18.
“Total trade in goods and services (exports plus imports) between the UK and Kazakhstan was £2.3 billion in the four quarters to the end of second quarter of 2022, an increase of 63.3 percent or £896 million from the four quarters to the end of the second quarter of 2021,” reads the report.
Such a big increase was due to the surge in exports from Kazakhstan to the UK, which comprised 135.9 percent or £882 million (more than US$1 billion). The overall exports totaled £1.5 billion (nearly US$1.8 billion) from July 2021 to June 2022.
Imports from the UK grew 1.8 percent, or by £14 million (US$16.6 million), and comprised £781 million (US$925 million) over the same period.
“Kazakhstan was the UK’s 62 largest trading partner in the four quarters to the end of Q2 2022 accounting for 0.2 percent of total UK trade,” the factsheet reads.