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Kazakhstan’s exports hit almost $32bn in 8 mths

13 October 2020 10:10
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Kazakhstan’s exports hit almost $32bn in 8 mths

NUR-SULTAN. KAZINFORM – Positive growth has been reported in a number of economic sectors by Ruslan Dalenov, Kazakh National Economy Minister, at the Tuesday government session, Kazinform correspondent reports.

While addressing the government session, the minister noted that a 2.2% growth has been observed in the real economy sector, with its each sector and certain services showing positive growth, including construction, information and communications, agriculture, and manufacturing.

But he also added that there has been decline in such sectors as transportation (by 17.1%), commerce (by 9.5%), administrative services (by 4.9%), real estate operations (by 4.3%), accommodation and meals (by 3.6%) during the 9 months period.

He added that many service sectors demonstrated recovery fueled by growth in exports, manufacture, and investment in non-extractive sectors in September. The exports have hit $31.9bn in 8 months, resulting in a positive trade balance of $8.1bn.

According to the minister, exports of end products and processed products have seen increase, including a 5.7fold growth in automobile exports, a 5.4fold rise in ferrosilicon exports, a 86.1% rise in sunflower oil exports, a 33.1% rise in iron bars exports, and a 9.5% rise in titanium bars exports in January-August of 2020.

Earlier in the session, the minister spoke of the growth in the manufacturing industry.

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