Trade volume between the Gulf States and Central Asia reached $3.3 billion in 2024, more than quadrupling compared to 2020, according to the Eurasian Development Bank (EDB).
Analysts note that about 80% of this volume consists of Central Asian countries' imports from Gulf states. Turkmenistan emerged as the largest partner, accounting for $2 billion (61% of total trade), followed by Uzbekistan ($740 million) and Kazakhstan ($302 million).
The highest growth rates were recorded by Turkmenistan (9.9 times), Kyrgyzstan (9.5 times), and Uzbekistan (8.1 times). The United Arab Emirates (UAE) remain the dominant trade partner in the region, responsible for 97% of all trade flows.
Trade with Gulf countries is most significant for Turkmenistan, representing about 10% of its total foreign trade turnover. For Kyrgyzstan, the figure reaches 1%, while for other regional countries it is less than 1%.
Tajikistan’s trade with Gulf states also grew significantly—by 4.7 times, from $19.6 million to nearly $93 million. The UAE remains its main partner, with its share in Tajikistan’s trade rising from 93% in 2020 to 99% in 2024.
EDB experts forecast continued growth. The unrealized potential is estimated at $4.9 billion—150% higher than current levels. Of this, $4.4 billion represents potential exports from Gulf countries (automobiles, electronics, jewelry), and $500 million from Central Asia (precious and non-ferrous metals, agricultural products).
It should be noted that Kazakhstan, Kyrgyzstan, and Tajikistan are members of the Eurasian Development Bank.
CentralasianLIGHT.org
September 3, 2025