Throughout the year 2023, Russia imported over 1 million passenger cars, with a significant portion of new vehicles originating from China. In particular, in December of the previous year, China accounted for 76.1% of the total import volume. Following China is Kyrgyzstan at 17.4%. This information was reported by Russian media.
According to data from the National Statistical Committee, during the first 11 months of 2023, Kyrgyzstan exported passenger cars to Russia worth 4.2 billion soms, demonstrating a 3.5-fold increase compared to a similar period two years ago when car exports to Russia amounted to only 1.2 billion soms.
However, since Kyrgyzstan lacks its own car production, Kyrgyz exports are merely a re-export of what Kyrgyzstan imports. Thus, China is the undisputed leader in supplying cars to Kyrgyzstan, with vehicle exports totaling 83 billion soms, representing 39.7% of the total imports of 209.2 billion soms. Interestingly, Russia ranked sixth in terms of car deliveries to Kyrgyzstan.
Additionally, in 2023, according to VTB statistics, Russian car loan borrowers increased demand for Chinese-made cars nearly fourfold. By the end of the year, approximately 60% of all new car loans issued by the bank were for Chinese brand vehicles.
CentralasianLIGHT.org
January 17, 2024