Historic high is hit by Kazakh-Chinese trade turnover

According to the press service of the Kazakh embassy in China cited by Kazinform, the total volume of Kazakh-China trade turnover attained $31.2bn in 2022. The country’s General Customs Administration issued statistics showing that a 133.7% growth in Kazakh exports of agricultural products, 58% rise in exports of raw energy products, and 25.2% increase in chemicals exports, according to the China’s foreign trade, made a 23.6% increase in Kazakh-Chinese mutual trade possible. 45% more plastics and rubber, 23.4% more textile and textile items, 21.4% more machinery and equipment were imported by Kazakhstan from China last year. Over the years China has been taking the place of one of major trade partners of Kazakhstan, while Kazakhstan is considered to be China’s major trade partner in Central Asia. The achievement of the agreement on increasing trade turnover to up to $35bn by 2030 that the two countries’ Heads of State signed is on the path towards being attained earlier than planned given the upward trend in mutual trade.

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