2023 H1 Kazakhstan–China Trade Up By 22%
The Kazakhstan – China trade turnover has reached US$10.7 billion in the first five months of 2023, which is 21.6% more than a year earlier. The share of exports from Kazakhstan to China of Kazakhstan’s total amounted to 15.4%. Imports from China grew by 56.3% to US$5.9 billion. The share of China in the structure of the country’s imports amounted to 24.2%.
Crude oil and oil products derived from bituminous minerals accounted for the bulk of exports from Kazakhstan to China in value terms: US$1.3 billion, down 16.4% from a year earlier. Refined copper and unwrought copper alloys came in second (US$676.6 million, down 41.9% for the year), while third came inorganic chemistry at US$388.3 million, an annual growth of 2.4 times.
At the same time, Kazakhstan imported clothing and other knitwear from China worth US$441 million, 4.4 times more than a year earlier, while telephones, cars, computers and their units, as well as parts and accessories of motor vehicles were often purchased from China.
As at June this year, 2,100 Chinese invested companies operated in Kazakhstan – an increase of 37% more than in 2022. Most of these operate in the wholesale and retail trade sector: 750 enterprises, annual growth – by 40.4%. These are servicing the new supply chain routes from Russia and Central Asia to China.
The top five most popular sectors also included construction, manufacturing, mining, information and communications.
Source: Finprom
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