Eurasian Development Bank Reports Massive Boost in China-Central Asia Trade

Over the past four years, trade turnover between China and Central Asian countries has surged almost 2.8 times, with the total trade turnover hitting $66.2 billion in 2024, according to data from the Eurasian Development Bank (EDB).

China remains a key trade partner for the region, accounting for 60 per cent of imports into Central Asia, The Caspian Post reports via Kyrgyz media.

Kazakhstan leads as China’s largest regional partner, with $30.1 billion in trade (46 per cent of the total), followed by Uzbekistan at $18 billion (27 per cent), and Turkmenistan at $10.6 billion (16 per cent).

The EDB report highlights a sharp rise in China’s share of Central Asia’s trade, growing from 17.7 per cent in 2020 to 24.1 per cent in 2024-a 6.4 percentage point increase.

Trade reliance on China varies by country: Turkmenistan has the highest dependence with 55 percent of its trade linked to China, Kyrgyzstan follows at around 35 per cent, while Kazakhstan, Uzbekistan, and Tajikistan each range between 20 and 22 per cent.

Experts forecast continued growth in bilateral trade, fueled by an estimated $39.3 billion of untapped potential-representing 60 percent of current trade volumes. This includes $32 billion in potential Chinese exports such as automobiles, electronics, and consumer goods, alongside $7.3 billion in Central Asian exports, primarily copper products, gold, and uranium.