China strengthens its economic presence in Central Asia
Expanding trade relations with Central Asian nations have brought China significant influence in the region while at loggerheads with the US
BEIJING, China (MNTV) – China has further solidified its position as the leading economic force in the Central Asian region, recording a nearly 5% increase in trade turnover in 2024, according to data from the General Administration of Customs of China (GACC).
China has effectively overtaken Russia as the region’s primary trade partner.
The latest figures highlight a trade balance overwhelmingly in China’s favor. Overall trade turnover with Central Asia surged to $94.8 billion, up from $89.4 billion in the previous year.
Kazakhstan retained its status as China’s largest trade partner in Central Asia, with bilateral trade reaching $43.8 billion, reflecting a nearly 7% annual increase.
Kazakhstan’s imports from China totaled $28 billion, while its exports amounted to $15.9 billion, recording the highest yearly percentage growth in trade with China, with bilateral turnover rising by approximately 15% to $22.7 billion.
Kyrgyzstan’s exports to China skyrocketed by 3,270%, from $80 million in 2023 to $2.8 billion in 2024.
Trade between China and Turkmenistan remained steady at $10.6 billion, making Turkmenistan China’s third-largest trade partner in the region.
Turkmenistan continued to be the only Central Asian country maintaining a trade surplus with China, exporting $9.6 billion worth of goods while importing just over $1 billion. This surplus trend has persisted since at least 2014, according to GACC data.
Uzbekistan experienced a slight decline in trade with China, dropping by approximately 2% to $13.8 billion. Exports to China amounted to $2 billion, while imports stood at $11.8 billion.
Similarly, Tajikistan saw a nearly 2% decrease in bilateral trade, reaching $3.9 billion. Although Tajikistan’s exports to China grew by almost 40% year-on-year to $350 million, imports remained high at just over $3.5 billion.
China’s economic influence is also expanding in the South Caucasus, with trade turnover in the region increasing by 22% to $6.5 billion in 2024, up from $5.4 billion the previous year.
Azerbaijan emerged as the South Caucasus country with the highest trade volume with China, reaching nearly $2.5 billion.
Georgia’s trade with China expanded by approximately 10% to $2.3 billion. Imports remained steady at around $2 billion, while exports experienced a substantial increase of 142% to $276 million.
Armenia’s bilateral trade with China rose by 15% to $1.8 billion. Armenia’s efforts to reduce its economic dependence on Russia may have played a role in this changing trade dynamic.
China’s expanding economic footprint in both Central Asia and the South Caucasus underscores its growing influence in regional trade, further cementing its role as a dominant economic player in Eurasia.
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