China's trade with Central Asia hit a record high in 2024, with Kazakhstan leading at $43.82B. Rail cargo and joint projects further strengthened regional ties.
China's trade with Central Asian countries reached a new high in 2024, according to data released by the General Administration of Customs (GTU) of the People's Republic of China.
Kazakhstan topped the list of China's trading partners in Central Asia, with a total trade volume of $43.82 billion. Kyrgyzstan ranked second, with $22.71 billion, followed by Uzbekistan, with $13.78 billion. Turkmenistan came in fourth, with $10.65 billion, and Tajikistan closed the top five, with $3.86 billion. In 2023, China's trade turnover with Central Asian countries amounted to $89.4 billion.
Kazakhstan and China transported a record amount of cargo by rail. By the end of 2024, the volume of cargo transportation between China and the Republic of Kazakhstan by rail reached a historic maximum – more than 32 million tons of cargo.
Earlier it was reported in the media that the implementation of a joint project of Kazakhstan Municipal Systems and the Chinese company Envision Energy will cost $40 million. It is expected that 60% of the products produced will be directed to the Kazakh market, and 40% will be exported to the countries of Central Asia and the Caucasus.
It is worth noting that in 2022, China's trade with the region reached $70.2 billion, an increase of about 35% since Russia's full-scale war with Ukraine began. This was the moment when the Russian Federation started to seriously lose its position in Central Asia to China.
Read next
16:00
central asia
Kazakhstan and Pakistan signed a series of trade and transit agreements during a high-level business forum in Karachi, paving the way for expanded commercial cooperation and long-term logistics development between the two countries.
16:30
Central Asia
Kazakhstan’s Senate has approved a key agreement with the UAE to develop a 1 GW wind power station in the Zhambyl region, with plans to enhance renewable energy production and storage capacity. The project will create thousands of jobs and attract significant investments.
12:50
Central Asia
Kazakhstan and Vietnam have taken a significant step toward strengthening their bilateral relationship, with General Secretary To Lam announcing Kazakhstan as Vietnam’s first strategic partner in Central Asia during his visit to Astana.
23:04
Caspian Sea
Kazakhstan has partnered with China for a significant oil exploration project in the Caspian Sea.
17:21
Kazakhstan has introduced an investor visa that allows foreign nationals to reside in the country in exchange for sizeable investments.
What is your opinion on this topic?
Leave the first comment