Kazakhstan's foreign trade reached over $55 billion in the first five months of 2024
Kazakhstan’s foreign trade surpassed $55 billion in the first five months of 2024, according to the report published by the Prime Minister’s press service on July 26.
The government is working to enhance market access and strengthen collaboration with domestic producers, focusing on expanding export markets and developing transport corridors, particularly with China.
In the first five months of 2024, China accounted for 20% of Kazakhstan’s total trade turnover, amounting to $11.4 billion—a 6.6% increase from the previous year. Exports to China surged by 19.1%, reaching $5.7 billion.
Kazakhstan aims to boost exports of finished products by 2.5 times to $12 billion in the medium term. Regional cooperation has yielded positive results: trade with Xinjiang increased by 50%, exports to Sichuan rose by nearly 30%, and exports to Jiangsu grew more than tenfold.
Support measures have facilitated Kazakhstan's entry into new markets, including agreements with Iran for a free trade zone and with Singapore for trade in services. Negotiations with Indonesia, Mongolia, and the UAE are nearing completion, potentially adding over $1.9 billion to exports.(Source:astanatimes)
