Article: Kazakhstan Import Data Analysis for July 2024

Publishing Date：2024-08-22 19:15:58 Source: NBD Data(en.nbd.ltd)

Kazakhstan's import market has shown significant dynamism in July 2024, reflecting the country's active engagement in international trade. Based on the latest data from Kazakhstan Customs, this article provides a detailed analysis of the key trends, focusing on overall trade volume, leading product categories, and major trade partners. This analysis is brought to you by NBD Data, a leading provider of global trade data and customs statistics. For more detailed insights, visit NBD Data.

Overview: General Trade Statistics

In July 2024, Kazakhstan recorded a total of 992,360 import entries, a 17.02% increase from the previous month (848,058 entries). However, compared to July 2023, there was a 6.91% year-on-year increase in total entries (928,166 entries). The total import value for the month reached $9.32 billion, reflecting a 5.22% month-on-month growth from June 2024 ($8.86 billion). Despite this growth, there was a slight 5.11% decrease compared to the same period last year, when imports totaled $9.83 billion.

The number of active importers also saw a rise, with 17,871 companies importing goods in July, marking a 7.37% month-on-month increase and a modest 1.22% year-on-year rise. On the supply side, 22,136 suppliers were involved in exporting goods to Kazakhstan, representing a 7.79% increase from the previous month and a 4.23% increase year-on-year.

Key Import Categories: Top 5 Products

Kazakhstan's imports were concentrated in a few key product categories, dominated by the following HS codes:

  1. Mineral Fuels (HS 271121): This category, primarily consisting of petroleum gases, led the imports with a total value of $2.22 billion. While there was a 1.69% decrease from June 2024, the category saw a massive 95.11% year-on-year increase, underscoring the ongoing demand for energy resources.

  2. Industrial Furnaces and Ovens (HS 851420): With imports valued at $255.38 million, this category experienced a staggering 278.40% month-on-month growth and an even more impressive 365.54% year-on-year increase, indicating robust industrial activities and infrastructure development.

  3. Vehicle Parts and Accessories (HS 870829): Imports in this category totaled $239.94 million, reflecting a 118.47% increase from the previous month. However, there was a 53.13% year-on-year decline, highlighting the fluctuating demand for automotive components.

  4. Precious Metals (HS 710812): Despite the low volume of entries, this category saw imports valued at $224.78 million, nearly identical to the previous month. The high value indicates the importance of precious metals in Kazakhstan's economy.

  5. Plastic Sheets and Films (HS 391620): Imports in this category reached $224.23 million, with a 44.99% month-on-month increase and a substantial 493.73% year-on-year rise, driven by demand in construction and manufacturing sectors.

Imports from the United States: Top 5 Product Categories

Kazakhstan's imports from the United States were diverse, with the following five HS codes leading in July 2024:

  1. Printed Books, Newspapers (HS 490700): This category saw imports totaling $170 million, despite a 45.86% month-on-month decrease, reflecting fluctuations in the demand for printed materials.

  2. Engines, Non-Turbine (HS 840890): Imports were valued at $10.92 million, a significant 561.43% month-on-month increase, highlighting the need for high-quality machinery and parts.

  3. Motor Vehicles (HS 870324): This category saw imports valued at $7.3 million, with a slight 0.58% decrease from June but a notable 13.73% year-on-year decrease, indicating variability in automotive imports.

  4. Poultry Meat (HS 020714): Imports reached $6.82 million, reflecting a 20.04% month-on-month increase, driven by Kazakhstan's food supply needs.

  5. Telecommunications Equipment (HS 851762): This category experienced a dramatic 516.13% month-on-month increase, with imports valued at $6.62 million, showcasing the rising demand for telecom infrastructure.

Major Trade Partners: Top 10 Export Regions to Kazakhstan

Kazakhstan’s import sources are diverse, with China leading the pack:

  1. China: With 197,750 entries, China was the largest exporter to Kazakhstan, contributing $2.05 billion. This marked a 12.49% month-on-month increase, although there was a 29.26% year-on-year decrease.

  2. Turkmenistan: Exporting goods worth $1.66 billion, Turkmenistan saw a 1.49% decrease in trade volume compared to June but showed a 78.58% year-on-year increase.

  3. Uzbekistan: Imports from Uzbekistan totaled $746.44 million, with a 18.10% month-on-month growth and a 57.40% year-on-year increase.

  4. South Korea: South Korean exports to Kazakhstan were valued at $614.65 million, representing a remarkable 137.66% increase from the previous month, despite a 45.86% year-on-year decrease.

  5. Turkey: Imports from Turkey totaled $471.68 million, with a 41.99% month-on-month increase and an 8.31% year-on-year decrease.

  6. Germany: German exports were valued at $409.72 million, reflecting a 16.23% month-on-month increase and a 0.95% year-on-year decrease.

  7. United States: The U.S. exported goods worth $279.25 million to Kazakhstan, a 30.56% decrease from June but an 11.77% year-on-year increase.

  8. Poland: Imports from Poland reached $241.94 million, showing a 38.35% month-on-month increase but a 2.39% year-on-year decrease.

  9. Netherlands: Exports from the Netherlands were valued at $220.78 million, with a 35.44% month-on-month increase and a 36.70% year-on-year increase.

Disclaimer: The data and analysis in this report are derived from NBD Data's statistical results and may contain some errors. Users should verify these data independently. NBD Data is not responsible for any consequences arising from the use of this report's information.

For more detailed data, please visit NBD Data's official website: en.nbd.ltd

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(transworldcargo.net)Total purchase amount this month: 13,304,415 USD; MoM amount: 4,394,573 USD; MoM change: 8,909,842 USD; YoY amount: 0 USD; YoY change: 13,304,415 USD.INDONGO AUTO PTY LTD. (indongomotorsgroup.com)Total purchase amount this month: 2,134,717 USD; MoM amount: 1,486,218 USD; MoM change: 648,499 USD; YoY amount: 3,315,517 USD; YoY change: -1,180,800 USD.FIRST NATIONAL BANK OF NAMIBIA LTD. (fnbnamibia.com.na)Total purchase amount this month: 1,757,676 USD; MoM amount: 1,278,890 USD; MoM change: 478,786 USD; YoY amount: 1,781,694 USD; YoY change: -24,018 USD.Diamonds and Jewelry (HS Code: 710231)KGK DIAMONDS NAMIBIA PTY LTD. (kgkgroup.com)Total purchase amount this month: 3,304,952 USD; MoM amount: 695,197 USD; MoM change: 2,609,755 USD; YoY amount: 3,188,010 USD; YoY change: 116,942 USD.The above buyers are active purchasers of major products in the Namibian market, with high purchase frequency and stable trade demand. Foreign trade companies should prioritize these buyers and use NBD Data (en.nbd.ltd) to further explore potential business opportunities, optimize trade strategies, and enhance market competitiveness.Analysis of Namibia's Key Trading PartnersSouth AfricaAs Namibia's largest trading partner, South Africa recorded a total of 165,241 transactions this month, with a total trade value reaching USD 389,859,340. Although the month-on-month trade value decreased by USD 20,031,887, it showed a year-on-year increase of USD 19,581,419, highlighting South Africa’s stable presence in the Namibian market. South Africa's main export products to Namibia include food, mineral fuels, and machinery, making it a primary supplier to the Namibian market.United Arab EmiratesThis month, the United Arab Emirates exported goods worth USD 90,827,666 to Namibia. Despite a month-on-month decrease of USD 33,447,583, the trade value increased by USD 10,782,180 compared to the same period last year. This indicates the UAE’s strong competitive position in exporting electronic equipment and mineral products to Namibia.QatarQatar saw a significant increase in trade activity with Namibia this month, with a total trade value of USD 81,414,768. The value increased by USD 81,409,076 compared to the previous month, as new trade transactions were established. Qatar's main export products include liquefied natural gas (LNG) and other energy products, signaling an expanding cooperation between Qatar and Namibia in the energy sector.OmanOman’s total trade value with Namibia for this month reached USD 62,061,646, a month-on-month increase of USD 62,031,688. However, this represents a year-on-year decrease of USD 16,550,368, indicating significant trade fluctuations. This suggests the need to closely monitor future trade trends and cooperation between Oman and Namibia.ChinaThe total export value from China to Namibia this month was USD 33,765,781, a month-on-month decrease of USD 28,532,657. Nevertheless, it marked a year-on-year increase of USD 6,406,121. China’s main exports to Namibia include machinery and consumer goods. Despite short-term fluctuations, overall demand remains strong, reflecting China’s sustained role as a key supplier to Namibia.These key trading partners collectively shape Namibia's import market, with South Africa and China maintaining a significant presence. As Qatar and Oman expand their energy exports to Namibia, the dynamics of the Namibian import market are expected to continue evolving. Foreign trade enterprises can leverage these insights to explore new opportunities and establish stronger trade relations in the region.Exchange Rate AnalysisOverall Trend: Over the past year, the exchange rate of the Namibian Dollar (NAD) against the US Dollar (USD) has shown a fluctuating but overall declining trend, indicating that the Namibian Dollar has been appreciating against the US Dollar. The exchange rate gradually decreased from 19.07 NAD/USD in September 2023 to 17.99 NAD/USD in August 2024.Notable Changes:November to December 2023: During this period, the exchange rate slightly increased from 18.22 to 18.26 NAD/USD, reflecting a relatively stable trend with minimal fluctuations.March to April 2024: The exchange rate rose from 18.75 to 18.97 NAD/USD, indicating a short-term depreciation of the Namibian Dollar against the US Dollar.Since May 2024: The exchange rate has gradually declined to 17.99 NAD/USD, showing a consistent appreciation of the Namibian Dollar, likely influenced by domestic economic policy adjustments or a weakening of the US Dollar.Future Trend ForecastBased on the current trend, the Namibian Dollar is expected to continue appreciating slightly against the US Dollar in the coming months. This projection is driven by the following factors:Recovery of Namibia's Domestic Economy: A stable and recovering domestic economy could strengthen the purchasing power of the Namibian Dollar.Global Weakening of the US Dollar: If the US Dollar continues to weaken, the Namibian Dollar is likely to experience further appreciation.It is recommended to closely monitor the global economic situation and any adjustments to Namibia’s domestic monetary policies, as these will be crucial factors in determining the future trend of the exchange rate. ConclusionThe Namibian import market in August 2024 showed significant changes in various aspects. Overall, although the total import value declined this month, the increase in the number of importers indicates growing diversity and activity in market demand. Among the major imported products, mineral fuels and light vehicles remain the mainstays of Namibia’s import market, while beer and malt beverages exhibited strong growth, reflecting an increase in local consumption demand.Regarding key trading partners, South Africa, China, and the United Arab Emirates continue to be Namibia’s most important partners, with South Africa holding the largest market share. Notably, emerging markets such as Oman and Qatar have shown rapid growth in exports to Namibia, indicating their potential to become significant players in the Namibian import market in the future.In terms of exchange rates, the Namibian Dollar (NAD) has generally appreciated against the US Dollar over the past 12 months. This trend could be attributed to local economic policies and a weakening US Dollar. If Namibia’s domestic economy remains stable, it is expected that the exchange rate will continue to show relative strength in the coming months.For foreign trade enterprises, understanding Namibia’s market demand and buyer information, especially focusing on product categories with increased import values and active buyers this month, such as beer and medium passenger vehicles, can help capture market opportunities. Furthermore, closely monitoring exchange rate fluctuations and global economic conditions can assist companies in formulating better trade strategies. NBD Data (en.nbd.ltd), as a provider of the latest and most comprehensive foreign trade data analysis, will continue to offer accurate market intelligence and professional trade data support for businesses and individuals.Disclaimer: The data and analysis in this report are derived from NBD Data's statistical results and may contain some errors. Users should verify these data independently. NBD Data is not responsible for any consequences arising from the use of this report's information....

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