In a significant shift, China emerged as Kazakhstan’s leading trading partner in 2023, surpassing Russia and securing the top spot in the country’s foreign trade landscape.
According to data released by the Ministry of Trade and Integration of Kazakhstan, China’s ascent to the top position reflects the growing economic ties between the two nations, marking a milestone in their bilateral relationship.
The Ministry’s report, which summarizes last year’s foreign trade data, reveals that Kazakhstan witnessed a total trade volume of $139.8 billion in 2023, showcasing the resilience and dynamism of its economy amidst global challenges.
Trade with China accounted for $31.5 billion, relegating Russia to the second position with a trade volume of $26 billion. Italy followed closely behind with a trade volume of $16.1 billion, while South Korea and Turkey each recorded trade volumes of $6 billion.
Crude oil and petroleum products remained the top exports, totaling $43.4 billion, followed by industrial goods ($9.8 billion), non-precious metals ($9.6 billion), agro-industrial goods ($5.4 billion), ores ($4.9 billion), uranium ($3.4 billion), and natural gas ($2.1 billion).
Notably, Kazakhstan experienced a significant surge in non-resource exports to its East Asian trade partners in 2023, signaling the country’s pivot towards diversifying its export destinations and strengthening economic ties with key regional players.
Exports to Vietnam increased by 64%, while exports to Hong Kong, South Korea, and China witnessed growth rates of 34%, 30%, and 10% respectively.
