Turkmenistan and Kazakhstan Witness Robust Growth in Bilateral Trade Volume

Ashgabat, The Gulf Observer: The trade relations between Turkmenistan and Kazakhstan flourished in the past year, reaching a commendable trade volume of $563.06 million, according to recent reports from Kazakhstan’s Bureau of National Statistics.

The data reveals a substantial 28 percent increase in the trade turnover between the two countries compared to the same period in 2022 when it stood at $438.69 million. This surge highlights the growing economic collaboration between Turkmenistan and Kazakhstan.

Turkmenistan’s exports to Kazakhstan experienced significant growth, reaching $165.88 million, marking a remarkable 68 percent increase compared to the corresponding period in 2022 when it amounted to $98.33 million. Turkmenistan’s share in Kazakhstan’s total imports during this reporting period increased to 0.3 percent, reflecting an uptick from the 0.2 percent recorded in 2022.

Conversely, Turkmenistan augmented its imports from Kazakhstan by almost 17 percent for the entirety of 2023, totaling $397.17 million compared to $340.35 million in the same period of 2022. Turkmenistan’s contribution to Kazakhstan’s total exports expanded to 0.5 percent, demonstrating substantial growth from the 0.04 percent recorded in 2022.

Meanwhile, Kazakhstan’s overall trade turnover for the entire last year amounted to $139.83 billion, exhibiting a robust 3.2 percent increase compared to the corresponding period in 2022 when it stood at $135.52 billion. The positive trajectory in bilateral trade signifies the mutual benefits and strengthened economic ties between Turkmenistan and Kazakhstan.

This notable growth underscores the commitment of both nations to fostering economic cooperation, creating new opportunities for trade, and contributing to the overall prosperity of the Central Asian region.