Empirical analysis of the impact of foreign trade on economic growth in Kazakhstan

Abstract

   After the last place in the world, the countries after the pandemic of COVID-19 are making great efforts to restore their economy. Between 2019 and 2021, the volume of foreign trade between countries fluctuated. In general, foreign trade has a positive influence on the growth of the country's economy. On this basis, increasing the volume of foreign trade, states try to conduct their policies competently. The relationship between foreign trade and economic growth begins with the emergence of the international economy. Foreign trade is one of the main factors of economic growth. In order for countries to have economic relations with each other, they should be engaged in activities that provide currency flow, increasing their export potential. The main tasks of foreign trade are to ensure economic growth and development and to accelerate growth. Research in economics shows that foreign trade has both positive and negative effects on the growth of national economies. In this study, the relationship between Kazakhstan's economic growth and foreign trade was analyzed with data from 1995-2022. After analyzing the general indicators of Kazakhstan's foreign trade, it was determined which areas of the economy have the potential for priority directions in the future. The international trade volume and its general situation have been analyzed, starting from the planned economy led by the Soviet government, up to the current period.