19 Feb 2024 14:46

China was Kazakhstan's main trading partner in 2023 - QazTrade

ASTANA. Feb 19 (Interfax) - China became Kazakhstan's largest trading partner in 2023, leaving Russia behind, a report published by the QazTrade Trade Policy Development Center s6aid.

Trade turnover between Kazakhstan and China in 2023 totaled $31.5 billion, a 30% increase versus 2022. Trade turnover with Russia, Kazakhstan's second largest trading partner, reached $26 billion in 2023, a 3.7% decrease versus the previous year.

Italy remained Kazakhstan's third largest trading partner with a trade turnover of $16.1 billion (up 8%).

Fourth place was shared by South Korea with a trade turnover of $6 billion (-1.6%) and Turkey with $6 million (-4.8%) versus 2022.

The Netherlands was Kazakhstan's fifth largest trading partner in 2023 with a trade turnover of $4.4 billion, a drop of 24% from the previous year.

Last year, Kazakhstan's total trade turnover was $139.8 billion, an increase of 3.2% compared with the previous year, QazTrade said. The republic's exports declined 7% in 2023 to $78.7 billion, while imports rose 20.1% to $61.1 billion.