Comparing Foreign Trade of Kazakhstan to other countries

Bc. Vojtěch Joza

Master's thesis

Abstract:

The country of Kazakhstan experienced a rapid increase in economic development including its GDP values as well as becoming heavily involved in trade with the country’s natural resources. This thesis focuses on the foreign trade of Kazakhstan and how other countries affect its trade. The countries utilized for this purpose are China, Turkey and Russia, with each of these countries being economically, culturally and or geographically linked to Kazakhstan and its trade. Russia being heavily connected with Kazakhstan’s economy due to their vast history, China being the largest economical power as well as the main trading partner of Kazakhstan especially when it comes to being the main export destination of Kazakhstan. The thesis explores the implications of foreign trade and deduces assumptions that will be discussed with the results computed in the practical part. Additionally economic situations will be explored in the research analysis with insights into certain events that had impacts on Kazakhstan’s economy and or international trade. The practical part will analyse the data ranging from 2007 to 2022 for the selected variables for testing and will compare them to deduce possible similarities, irregularities and finally to create a functional econometrics model to address the estimated relations among the variables and the export, and Net export, of Kazakhstan. The strong connection between Russia and Kazakhstan is undeniable with major links between the Russian Ruble and the Kazakh Tenge. Apart from the currency, events that cause sanction to fall upon Russia have major impacts on Kazakhstan’s economy and trade affecting the economy in negative ways as well as offering new potential partners for trade in the short term. In terms of share on the trade of Kazakhstan, Turkey has a much lesser impact than China which showcased a large uprise to Kazakhstan’s exports in times of a healthy economic growth for China, going in accord with expected foreign trade shifts.

Keywords

Foreign Trade, Export, Kazakhstan, Net Export, GDP, Exchange rate

Language used: English

Date on which the thesis was submitted / produced: 31. 3. 2024

Thesis defence

• Supervisor: prof. Ing. Mansoor Maitah, Ph.D. Ph.D.
• Reader: Jana Skřivánková, B.E., externi

Czech University of Life Sciences Prague

Faculty of Economics and Management

Master programme:
Economics and Management