FOREIGN TRADE BALANCE OF KAZAKHSTAN IN 1999 - PLUS $203.9 MILLION

/IRBIS, Feb.18, 00/ - According to REUTERS, which cites Alihan Smailov, head of the National Statistics Agency, balance of foreign trade of Kazakhstan (including CIS countries) in 1999, according to provisional data, has made + $203.9 million in comparison with minus $1692.2 million in 1998. "There is a tendency of export decreasing reduction. The export has been reduced (in 1999) by five percents, import - by 28 percents. As a whole the foreign trade turnover has decreased by 18 percents", - he has told at the Friday's press conference. According to Smailov, the foreign trade turnover in 1999 reduced to $11.307 billion from $13.785 billion in 1998. At that export in 1999 has made $5,755.3 million, import - $5,551.4 million. Also he has informed that in December 1999 balance of foreign trade was plus $254.2 million at export of $843.4 million, import - $589.2 million. Smailov has told that increase of export in the second half-year of 1999) took place on a background of a significant rise in prices of petroleum and base metals. The petroleum contract prices in December 1999 increased by 32.9% in comparison with December 1998. Exported copper has risen in price by 14.3% (at that the world copper price has increased by 18.1%), zinc - by 19% (22.3%). Despite of improvement in the world market, as he said, in 1999 there was no adequate export growth. The main reason was low exports in CIS countries, which was reduced by 38% and also low ratio of contract and world market prices. More low, than in 1998, foreign trade activity is explained by decrease in the population and industry's solvency. It was stipulated also by non-adequate ratio of export and world prices; besides in 1999 there was lower world natural gas price level (10% less than in 1998). The mineral products occupy 44 percents from the total export, including petroleum, which occupies a third part. Export in the non-CIS countries has increased by 20%, in CIS countries - has decreased by 37.5% in comparison with 1998. "Russia remains the main trade partner of Kazakhstan, though its share has been reduced. In 1998 it occupied almost 30 percents of Kazakhstani export, in 1999 - about 19.8 percents", - has told Smailov.