China Reports Sharp Increase in Trade with Kyrgyzstan in 2024
Trade between China and Central Asian countries reached $94.8 billion in 2024, with Kazakhstan leading the way in trade volume, according to data from the General Administration of Customs of China. The total trade volume increased by $5.4 billion compared to the previous year.
Kazakhstan accounted for 46% of the total trade with China, totaling $43.8 billion, while Kyrgyzstan followed in second place with $22.7 billion, making up 24% of the total volume. Uzbekistan, Turkmenistan, and Tajikistan also contributed to the trade with $13.7 billion, $10.6 billion, and $3.8 billion respectively.
Notably, Kazakhstan, Kyrgyzstan, and Turkmenistan saw an increase in trade turnover with China, while Uzbekistan and Tajikistan experienced a decrease in trade volumes.
However, there seems to be a discrepancy in the reported trade volume between Kyrgyzstan and China. According to the National Statistical Committee of the Kyrgyz Republic, the volume of foreign trade between Kyrgyzstan and China in 2024 was $5.1 billion, significantly lower than the reported figures from the Chinese side.
Azamat Dzhumabekov, head of the Committee on Transport and Logistics of the Chamber of Commerce and Industry, explained that this difference in statistics is due to the fact that many goods sent from China to Kyrgyzstan are actually in transit to other countries. This discrepancy leads to inaccuracies in trade data between the two countries.
It is essential for both countries to address these discrepancies and work towards accurate reporting of trade volumes to ensure transparency and reliability in their economic relations.
