Kazakhstan’s Gold Exports Reach Nearly $67 Million in January-November 2022

ASTANA – Kazakhstan’s export of processed and unprocessed gold reached 4.2 tons or $66.9 million in January-November of 2022, according to the finprom.kz analytical website.

Photo credit: shutterstock.com.

The volume is about the same in tons as was exported in 2021 (4.3 tons), with an 88 percent increase in monetary terms.

Between 2017 and 2021, Kazakhstan exported the precious metal mainly to Kyrgyzstan. 

In 2022, the largest volume of deliveries in physical terms was sent to Kyrgyzstan (52.5 percent or 2.2 tons). In monetary terms, however, Russia accounts for 61.6 percent of export earnings, or $41.2 million, whereas Kyrgyzstan accounted for 38.3 percent, or $25.7 million.

“Over the past year, 4,742 tons of gold were sold worldwide, 18 percent more than in 2021 due to the increased demand for this asset from the central banks of different countries, which bought 1,136 tons of gold amid instability and pessimistic forecasts. According to the World Gold Council analysts, this is a record volume in the statistics of sales to central banks over the past 55 years,” reads the report. 

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