Results of the Year
Production decreased – export declined
In 2020, Kazakhstan's revenue from the total volume of exports of products amounted to 41.2 bln US dollars. This is 28% less than in 2019 ($57.7 bln). At the same time, crude oil accounted for 57.2% of the country’s total export volume. The cost of exported oil is $ 23.7 bln (29.5% less than in 2019 – $33.6 bln).
According to the Ministry of National Economy, 70.5 mln tons of oil were exported in 2020, which is 2 mln tons more than the official data of the Ministry of Energy. At a February briefing in the Central Communications Service (CCS), Daniyar Berlibayev, Deputy Chairman for oil transportation of the Board of the national company KazMunayGas, said that 68.5 mln tons of oil were exported from the country in 2020, which was 101.8% of the plan. Perhaps the discrepancies among the departments are related to the fact that oil workers traditionally refer to 2-3 million tons of oil annually as so-called "processing losses."
If we take the Ministry of Energy data, in 2020, oil exports decreased by 3.7 mln tons compared to the previous year (in 2019, this figure was 72.2 mln tons).