China-Central Asia Trade Volume Grows 2.8 Times

The volume of mutual trade in goods between China and Central Asian countries has grown 2.8 times over the past four years, according to the Eurasian Development Bank (EDB).

The trade volume amounted to $66.2 billion in 2024 and increased 2.8 times compared to 2020, The Caspian Post reports citing foreign media.

According to the EDB, 60 percent of mutual trade turnover is imports of goods by Central Asian countries from China.

China’s largest trading partners in the region are Kazakhstan - $30.1 billion (46 percent of total trade), Uzbekistan - $18 billion (27 percent), Turkmenistan - $10.6 billion (16 percent).

«The importance of China as a trading partner of Central Asia is growing rapidly. Its share in the total trade turnover of the countries in the region increased from 17.7 to 24.1 percent in 2020-2024 (+6.4 percentage points).

At the same time, the importance of trade with China varies significantly for individual Central Asian states. The largest share is in Turkmenistan: China accounts for 55 percent of trade turnover; in Kyrgyzstan - about 35 percent; in Kazakhstan, Uzbekistan and Tajikistan - in the range of 20-22 percent,» the statement says.

According to experts, the growth of mutual trade will continue and will be supported by significant untapped trade potential, estimated at $39.3 billion, or 60 percent of the current trade turnover. Of these, $32 billion is China’s potential export (cars, electronics, consumer goods), $7.3 billion is Central Asia’s export (copper products, gold, uranium).