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The value of Kazakhstan’s exports of fossil fuels and related materials to the EU increased by 65.15 percent in 2022 compared to 2021, Trend reports.
According to Eurostat, the statistical office of the EU, in 2022, Kazakhstan exported fossil fuels and related products to the EU worth 26.1 billion euros, while in 2021 this number stood at 15.8 billion euros.
For over the past 10 years, the lowest value of exported fuels by Kazakhstan was recorded in 2016, when Kazakh export to the EU amounted to just 10.7 billion euros.
Meanwhile, the EU’s exports of fossil fuels to Kazakhstan are not nearly as high as those of Kazakhstan. As such, in 2022, the EU exported fossil fuels and related goods to Kazakhstan worth 166.1 million euros, which indicates a 3-fold increase compared to 2021 (43.9 million euros).
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 in 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).
