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Kazakhstan: Another Year, More Misery From Eurasian Union

The major devaluation of its national currency notwithstanding, Kazakhstan reported a 23.5 percent drop in trade with its partners in the Moscow-led Eurasian Economic Union in 2016, compared to the year before.

Finprom.kz reported gloomily on March 28 that despite efforts by Kazakhstani producers to slash prices for their goods, the overall value of exports is falling, and falling hard.

The situation is an altogether paradoxical one.

In 2016, the price for finished goods exported within the EEU were 1 percent lower than the year before — the price for raw goods was 8 percent down. Only the cost of semi-finished products was up by 2.8 percent. So in total, Kazakhstan exported $3.9 billion worth of goods to its EEU partners.

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Kazakhstan: Another Year, More Misery From Eurasian Union

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