From January to May 2023, Kazakhstan's trade turnover with China saw a 21.6% period-over-period increase, amounting to $10.7 billion, QazMonitor reports citing Finprom.
The largest share of this turnover constituted exports, amounting to $4.9 billion and representing a 4.1% decrease over the year. Overall, exports from Kazakhstan to China account for 15.4% of the country's total exports.
Crude oil and petroleum products remained the primary Kazakh exports, with a total value of $1.3 billion, though this figure represented a 16.4% decrease from the previous year. In second place are refined copper and unprocessed copper alloys, which experienced a drastic 41.9% decrease over the year and amounting to $676.6 million. Inorganic chemistry ranks third, amounting to $388.3 million and indicating an increase of 2.4 times.
Conversely, Kazakhstan showed a keen interest in importing clothing and other knitwear from China, with imports amounting to $441 million, reflecting a 4.4 times increase over the same period. Additionally, items such as phones, cars, computers, system units, and parts and accessories of motor vehicles were frequently purchased from China.
As of June 2023, the number of companies with Chinese participation operating in Kazakhstan exceeded 2,100, indicating a 37% increase year-over-year. Among these companies, around 750 were engaged in the wholesale and retail trade sector, marking a 40.4% growth rate. The top five most popular areas for Chinese companies in Kazakhstan also included construction, manufacturing, mining, and communications.