Kazakhstan Recognized as One of Uzbekistan’s Top Trading Partners

Tashkent, The Gulf Observer: Kazakhstan has been recognized as one of Uzbekistan’s three main trading partners, based on trade results for the first 11 months of the year. According to the Statistics Agency of the Republic of Uzbekistan, the country’s foreign trade volume for the period of January-November reached $59.4 billion, marking a 3.6% increase compared to the same period last year.

Uzbekistan has established economic ties with 195 countries globally. Among its top trading partners, China leads with a 19% share of total trade, followed by Russia at 18%. Kazakhstan ranks third with 6.5%, followed by Türkiye at 4.4% and South Korea at 3%.

In trade with Kazakhstan, Uzbekistan exported goods worth $1.3 billion, while imports from Kazakhstan amounted to $2.5 billion.

Experts attribute the growth in trade between the two nations to factors such as their shared border, membership in the CIS free trade zone, and the ongoing liberalization of economic relations between the countries.