BAKU, Azerbaijan, December 21. The National Bank of Kazakhstan expects the imports to reach $48.9 billion in 2022, with a further increase to $51.3 billion in 2023, Akylzhan Baimagambetov, Deputy Governor of the National Bank of Kazakhstan, said, Trend reports, citing the press service of the National Bank.
According to Baimagambetov, the imports of Kazakhstan will reach a historic all-time high in 2023.
Furthermore, the National Bank expects the figures to increase to $54.1 billion in 2024, and $54.6 billion in 2025.
The deputy governor attributes the growth of imports to the increased demand of the population and businesses. Consumer goods imports have been Baimagambetov added that the planned fiscal spending in the medium term will stimulate further growth in imports of intermediate goods.
“We have noticed an increase in imports from China, while the Russian imports to Kazakhstan decreased compared to the previous year. This transition points to the gradual reorientation to different markets,” the deputy governor concluded.