Finance • 12 November, 2018

Uzbekistan becomes Kazakhstan's largest oil importer in CIS

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In the first eight months of 2018, Kazakhstan exported 152,800 tons of oil and crude oil products to Uzbekistan amounting to $77 million, the Kazakh monitoring agency said in a report.

Compared to the last year, when 99,400 tons worth $40.7 million were exported, the export figures grew by 53.68 percent in volume and 89.1 percent in monetary terms.

Uzbekistan, thus, became the main importer of Kazakh oil and crude oil products in the CIS with a share of 56.95 percent of the volume of supplies to the countries of the region (268,300 tons).

Total exports of oil and crude oil products of Kazakhstan reached 46,400 tons (an increase of 5.6 percent year-on-year) in volume and $24.3 billion in monetary terms (45.3 percent) in the first eight months of 2018.

The share of Italy, the Netherlands and France accounted for 53.9 percent of exports in volume and 54.4 percent in monetary terms.

In January-September 2018, Uzbekistan imported 560,500 tons of oil and oil products. Supplies from Kazakhstan, therefore, accounted for 27.26 percent of the total imports.

In the first nine months of 2018, trade turnover between Uzbekistan and Kazakhstan amounted to $2,136.4 million, of which $1,039.8 million accounted for exports from Uzbekistan, and $1,096.6 million accounted for imports from Kazakhstan.

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