Kazakhstan Tops Trade Partners List for China in Central Asia During 2024
In 2024, Kazakhstan emerged as China's top trade partner in Central Asia, with a substantial bilateral trade volume of $30.1 billion. This figure accounted for 46% of China's total trade with the region, according to data from the Chinese General Administration of Customs.
Kazakhstan's strategic position, proactive trade facilitation measures, and growing institutional cooperation have played a significant role in this achievement. The Khorgos International Center for Cross-Border Cooperation, a joint China-Kazakhstan special economic zone, serves as a vital trade hub connecting China, Central Asia, and Europe, facilitating efficient customs and logistics.
The deepening institutional cooperation between the two countries is evident in joint projects like the "Smart Customs" pilot using autonomous freight trucks and the unified electronic customs system, which have sped up cross-border trade. New cooperation centres on poverty reduction and education also strengthen bilateral ties.
China’s national nuclear corporation leads a consortium to develop Kazakhstan’s new nuclear power plant, indicating major Chinese investment and strategic engagement in Kazakhstan’s atomic energy sector. This collaboration reflects a broader trend of deepening energy sector cooperation between the two nations.
Diversification and expansion of exports have also been key factors in the strong trade relationship. Nine Kazakhstani companies were newly included in China’s non-food exporter list, enabling exports of cattle hides and artemia cysts. Kazakhstan also significantly increased barley exports to China, boosting agricultural trade.
Experts estimate substantial untapped trade potential of $39.3 billion between China and Central Asia, with China focusing exports on automobiles, electronics, and consumer goods, while Central Asia exports copper, gold, and uranium, making Kazakhstan a key partner in this potential growth.
Uzbekistan ranked third with a trade turnover of $13.78 billion, while the Kyrgyz Republic came second with a trade turnover of $22.71 billion. The reported figures represent a substantial growth in China's trade with Central Asia, which increased from $89.4 billion in 2023 to $94.82 billion in 2024.
The trade surplus of $1 trillion in 2024, the highest reported for China, indicates a strong economic position for the country. This surplus represents a significant increase from the previous year and is a significant portion of the global trade volume. The reported trade figures for 2024 suggest a continued growth trend in China's international trade.
This news was reported by Kazinform on Jan. 23, 2025. The figures provided are for the top five trade partners of China in Central Asia in 2024. Turkmenistan placed fourth with a trade turnover of $10.65 billion, and Tajikistan came fifth with a trade turnover of $3.86 billion.
References:
- Central Asia Online
- China Daily
- Kazakhstan 2050 Strategy
- Kazakhstan Invest
- Khorgos Gateway
- The proactive measures in business and finance sectors, such as the development of the "Smart Customs" pilot and the unified electronic customs system, have boosted trade efficiency between China and Kazakhstan, contributing to Kazakhstan's rise as China's top trade partner in Central Asia.
- Beyond trade, strategic cooperation between China and Kazakhstan extends to various industries, with China's national nuclear corporation leading a consortium to develop Kazakhstan's new nuclear power plant. This collaboration signifies a significant investment and commitment in Kazakhstan's atomic energy sector, further deepening the bilateral relationship.
