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Trading balance of Kazakhstan decreased by $800 million in 2007

Astana. January 23. Kazakhstan Today - In 2007 trading balance in Kazakhstan decreased by $800 million, the Minister of Industry and Commerce Galym Orazbakov informed during the session, the agency reports. "By the preliminary data, foreign trade turnover for 2007 made nearly $78.8 billion. In comparison with 2006 growth of foreign trade turnover made about 27.3 %, trading balance in 2007 made about $13.8 billion that is less than parameters of 2006 by $800 million," Orazbakov said. The main cause of reduction of trading balance, in the opinion of the minister, is not growth of import in natural expression, but increase of its cost. "For example, growth of import of milk and cream increased by 37.9 % while in quantitative expression there was a reduction of volumes of import of this production by 1 %." "It is the evidence of inflation import in Kazakhstan," Orazbakov considers. "The Kazakhstan export still has raw orientation. At the same time in 2007 export of products of manufacturing industry, including chemical products increased by 24.4 %, vehicles and their spare parts by 32.5 %," the Minister of Industry and Commerce said.

Resourse: Kazakhstan Today

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