Central Asian Nations Boost Imports from Persian Gulf States

Central Asian countries have boosted their imports of goods from the Persian Gulf states, according to data from the Eurasian Development Bank (EDB).

Last year, trade turnover between the region and the Gulf states amounted to $3.3 billion, The Caspian Post reports citing foreign media.

Trade between the five Central Asian countries and Kuwait, Bahrain, Qatar, the UAE, Oman, and Saudi Arabia has grown 4.2 times compared to 2020.

The highest growth rates of trade with the Gulf countries were recorded in Turkmenistan (9.9 times), Kyrgyzstan (9.5 times), and Uzbekistan (8.1 times).

The UAE is the absolute leader among Gulf states, accounting for 97 percent of the region’s trade with the Gulf.

Experts note that trade is expected to continue growing. The untapped potential is estimated at $4.9 billion - a 150 percent increase compared to the current turnover.

Of this, $4.4 billion is potential Gulf exports (cars, electronics, jewelry), while $0.5 billion is potential Central Asian exports (precious and non-ferrous metals, agricultural products).