China, Turkmenistan Q1 2023 Trade Up 14.1%
The trade turnover between Turkmenistan and China amounted to US$2.64 billion from January through March 2023, according to the Turkmenistan Customs Authority. According to them, this represents an increase of 14.1% more than in the first three months of 2022.
Most of the trade turnover was accounted for by Turkmen exports, mainly natural gas via its pipeline networks. Turkmenistan’s total export values amounted to US$2.42 billion, up 13.5% more than last year.
During this first quarter, Turkmenistan imported Chinese goods worth more than US$222.6 million, itself a 21.5% increase over 2022. Chinese exports are mainly construction materials and pharmaceuticals.
Despite the relatively low bilateral trade volumes, Turkmenistan is an important connectivity nation for China as it allows China rail access to the Caspian Sea and onto markets in Iran, the Middle East and Europe via the Middle Corridor.
The two countries Presidents are scheduled to meet at the upcoming China-Central Asia Forum in May.
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