Kazakhstan's trade with Central Asian countries decreasing

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Kazakhstan's trade with Central Asian countries decreased in the first quarter of 2024, Zakon.kz reports.

Kazakhstan's foreign trade turnover for the first quarter of 2024 reached $31.2 billion, which is 5.6% less compared to the same period in 2023. Trade with Central Asian countries (Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan) accounted for 5.1% of the total, reaching $1.6 billion. This data is provided by the Institute of Economic Research of Kazakhstan.

The volume of Kazakhstan's foreign trade turnover with Central Asian countries was distributed as follows:

  • Uzbekistan: $895.5 million (55.8%)
  • Kyrgyzstan: $337.7 million (21.1%)
  • Tajikistan: $264.8 million (16.5%)
  • Turkmenistan: $105.3 million (6.6%)

"In the corresponding period over the past five years, there has been growth in Kazakhstan's foreign trade turnover with all Central Asian countries. However, the first quarter of 2024 saw a decrease in trade turnover with Uzbekistan by 16.2%, Kyrgyzstan by 7.5%, Tajikistan by 13.7%, and Turkmenistan by 5.2%," the research indicated.

Kazakhstan's exports to Central Asian countries in the first quarter amounted to $1.2 billion, which is 10.9% less than the same period in 2023.

According to the institute, this was influenced by a 38.3% decrease in wheat exports, a 20.3% decrease in telephone apparatus exports, and a 41.9% decrease in gold exports.

Overall, the export structure is dominated by wheat (16.8%, $204.3 million), telephone apparatus (4.7%, $57.7 million), mineral and carbonated water (3.9%, $48.2 million), and iron and steel rods (3.7%, $45.4 million).

Imports decreased by 20.5% compared to last year, amounting to $385.3 million. According to analysts, the import structure is mainly composed of passenger car bodies (12.1%, $46.5 million), ores and concentrates of precious metals (7.4%, $28.7 million), and car engines (6.4%, $24.5 million).

CentralasianLIGHT.org

June 17, 2024