Kazakhstan-Uzbekistan Trade Turnover Reaches $1.5 Billion

Tashkent, The Gulf Observer: Uzbekistan’s foreign trade turnover reached $26.73 billion in the period from January to May 2024, marking a 3.0% increase of $769.5 million compared to the same period in 2023, according to reports from the Uzbek Statistics Agency.

Uzbekistan, maintaining trade relations with 186 countries worldwide, recorded significant volumes with key partners. China accounted for 18.9% of the trade, followed closely by Russia at 17.9%, Kazakhstan at 5.9%, Türkiye at 4.5%, and the Republic of Korea at 3.4%.

Exports from Uzbekistan to Kazakhstan totaled $485.5 million, while imports from Kazakhstan amounted to $1096.1 million. The Uzbek Statistics Agency highlighted Kazakhstan’s role as a major economic partner, attributing this to shared borders, trade within the CIS free trade area, and the liberalization of mutual economic relations.

The steady growth in Uzbekistan’s foreign trade underscores the country’s expanding economic ties and strategic partnerships on the global stage.