majorityof Kazakhstan's trade transactions with Russia are conducted using the Russian ruble, according to Kazakhstan's National Bank.

In 2024, there was a significant increase in the supply of various goods between Kazakhstan and Russia. The volume of trade between the two countries reached over $28 billion, according to the Russian Ministry of Economic Development.

This increase was observed in the supply of machinery, equipment, transport vehicles, mineral products, and chemical industry products in both directions. However, specific data on the quantity of goods exported from Kazakhstan to Russia was not provided.

Russian supplies to Kazakhstan increased by 4.9% over the year in 2024. This growth in trade was announced by the Russian Minister of Economic Development, Maxim Reshetnikov, in 2025, who also stated that almost 95% of the trade between Russia and Kazakhstan would be conducted in national currencies.

This shift towards national currencies was also supported by Russian President Vladimir Putin, who confirmed in June 2025 that almost 95% of the trade between the two countries is serviced in national currencies.

Despite this increase in trade, Kazakhstan continues to have a traditionally negative trade balance with Russia, importing more goods than it exports. Timur Suleimenov, the head of the National Bank of Kazakhstan, stated that Kazakhstan always lacks rubles in its economy. However, as of June 2025, the National Bank of Kazakhstan has not publicly released any data on the demand for rubles in Kazakhstan's economy.

It's important to note that this article does not discuss the specific impact of the increase in trade on the economies of Kazakhstan and Russia in 2024. Additionally, it does not provide any forecasts or predictions for the future of trade between the two countries beyond 2025. Furthermore, the article does not mention any specific policies or initiatives implemented by either Kazakhstan or Russia to address their trade imbalance.

In conclusion, 2024 saw a significant increase in the volume of trade between Kazakhstan and Russia, with Russian supplies to Kazakhstan increasing by 4.9%. The shift towards national currencies in trade between the two countries was also a notable development. However, the specific details of this increased trade, its impact on the economies of both countries, and any policies implemented to address the trade imbalance remain unclear.

majorityof Kazakhstan's trade transactions with Russia are conducted using the Russian ruble, according to Kazakhstan's National Bank.