Kazakhstan-China commodity turnover hit record high USD 31 bln in 2023

The commodity turnover between Kazakhstan and China hit a record high 31.5 billion US dollars (appr.14.2 trillion tenge), Kazinform News Agency quotes the Trade and Integration Ministry.

Kazakhstan’s exports to China made 14.7 billion US dollars (6.6 trillion tenge) which is 12.6% more as compared to 2022. Kazakhstan imports achieved 16.8 billion US dollars (appr.7.6 trillion tenge) which is 50.5% more against 2022.

Cooperation with China, one of the largest investors and one of the world’s largest economies is a long-term factor of sustainable progress and realization of trade and investment potential for Kazakhstan, Kazakh Trade and Integration Minister Arman Shakkaliyev told the trade and economic cooperation conference China (Sichuan)-Kazakhstan 2024.

He added the Presidents of Kazakhstan and China set a task to boost turnover up to 40 billion US dollars (appr. 18 trillion tenge). In 2023 China became the country’s largest trading partner. According to the Ministry’s estimates, Kazakhstan may increase its exports to China by 1 billion US dollars.