China
Bilateral Trade and Investment Overview: China and Kazakhstan
In 2022, China and Kazakhstan began a “Golden Thirty Years” partnership. Bilateral trade surged, reaching $31.174 billion. By 2023, trade hit $41.02 billion, with Kazakhstan’s mineral exports stable. Chinese investments in Kazakhstan grew to $1.81 billion, focusing on renewable energy projects.
In 2022, the two nations officially embarked on the “Golden Thirty Years” of bilateral relations. China has become one of Kazakhstan’s largest trading partners, with bilateral trade accounting for around one-third of Kazakhstan’s total trade volume. In recent years, Kazakhstan has begun to import a greater number of machinery, vehicles, and apparel from China, while minerals and ores continue to be the most significant exports from Kazakhstan to China.
Chinese investment in Kazakhstan has seen significant growth in recent years, reaching US$1.81 billion in 2023—an increase of 16.4 percent from 2022. Joint development projects in renewable energy, such as natural gas pipelines, solar, and wind power, have also been expanding.
According to Chinese customs statistics, in 2022, the bilateral trade volume between China and Kazakhstan reached a record US$31.174 billion, an increase of 23.6 percent compared to the previous year. Of this, China’s exports to Kazakhstan amounted to US$16.355 billion, a year-on-year increase of 17.4 percent, while imports from Kazakhstan totaled US$14.819 billion, a year-on-year increase of 31.24 percent. China’s trade surplus with Kazakhstan was US$1.536 billion, a decrease of 41.81 percent year-on-year. In 2023, the bilateral trade volume reached US$41.02 billion, a year-on-year increase of 32.2 percent. The trend continued in the first half of 2024, with trade turnover growing by nearly 20 percent.
In 2023, Kazakhstan exported a total of US$16.8 billion to China, with minerals and ore products being the main exported goods, which have been relatively stable in recent years. As the joint development projects between China and Kazakhstan continue to expand, it is reasonable to anticipate that the export sector’s raw material exports will also increase in the near future.
Top products that are imported by China from Kazakhstan in 2023:
Source: International Trade Center
| This article was first published by China Briefing , which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in China, Hong Kong, Vietnam, Singapore, and India . Readers may write to info@dezshira.com for more support. |
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