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Market characteristics and market development trend of Kazakhstan

05/06/2022

Kazakhstan is a country with rich natural resources: minerals, oil and gas, which creates great potential for agricultural development. Mining industry, resource processing, manufacturing of construction machinery, agricultural machinery, transport vehicles and military equipment are major industries of Kazakhstan.

Kazakhstan is a country with rich natural resources: minerals, oil and gas, which creates great potential for agricultural development. Mining industry, resource processing, manufacturing of construction machinery, agricultural machinery, transport vehicles and military equipment are major industries of Kazakhstan.

Kazakhstan is a country with rich natural resources: minerals, oil and gas, which creates great potential for agricultural development. Mining industry, resource processing, manufacturing of construction machinery, agricultural machinery, transport vehicles and military equipment are major industries of Kazakhstan.

The country's main industrial products are Petroleum, coal, iron and steel, non-ferrous metals, tractors, construction equipment, electric motors, and agricultural machinery. Kazakhstan is currently implementing the compulsory Creative Industries Development Program, with the main sectors including metallurgical development, oil extraction industry, chemical industry and pharmaceutical industry, machine building, industrial - agricultural complex, light industry, tourism, information technology, communication technology and space technology and energy industry. Kazakhstan's rich hydrocarbon and natural resources are momentum of this economy.

Kazakhstan’s agriculture also develops in terms of livestock and grain. Major agricultural products are cereals, wool, cotton, cattle and poultry meat, milk.

The government recognizes that its economy is affected by the oil and mining industries and has invested heavily in diversifying the economy by developing and investing in sectors such as transportation, pharmaceuticals, telecommunications, petrochemical and food processing. They also passed a Land Code in December 2017 with the aim of increasing exploration and investment in the hydrocarbon, and especially mining.

Kazakhstan mainly exports crude oil, natural gas, copper, iron alloys, radioactive chemicals, while imports packaged drugs, natural gas, automobiles, broadcasting equipment, aircraft.

In general, trade relations between Vietnam and Kazakhstan are still modest. Vietnam's main export products to Kazakhstan include tea, medicine, cosmetics, products made of paper, cardboard and glass, footwear, food processing machinery and equipment, computers and accessories. Vietnam imports from Kazakhstan asbestos, rolled steel plate, alloy and stainless steel, transport equipment.