China-Kazakhstan bilateral trade hit record $24 B in FY 2022

 

China and Kazakhstan's trade is booming continuously. In 2023, it could reach new heights. Kazakhstan is working cooperatively with China to achieve bilateral goals. According to the China customs data reports, the trade between the two crossed over 24 billion dollars with an increase of 32% as compared to FY 2021. Computers, Yarn, Chemicals, Footwear, Copper, Petroleum and Ferroalloys were the most traded goods between China and Kazakhstan.

Our China import data reflects that there was an increase of 35% in China's imports from Kazakhstan during the fiscal year 2022. China's total import value from Kazakhstan was estimated to be 13 billion dollars. In FY 2022. Kazakhstan's crude oil was among the most imported items by China in the fiscal year 2022. 

According to Kazakhstan export data , the overall crude oil exports to China was around 4 billion dollars. Copper and Copper Alloys were another major import made by China in 2022. Around 15% increase in Kazakhstan exports of copper & its alloys was recorded and estimated around 2.4 billion dollars.

Natural gas was the third most valuable import made by China during 2022. It is estimated around 1.3 billion dollars with an overall increase of 13.4%. Other crucial imports by China were chemical, iron, steel products, zinc, precious metal ores, etc.

Whereas, China had a share of 22% in Kazakhstan's total imports. In 2022, there was around 33% increase in China's exports to Kazakhstan. China's overall exports to Kazakhstan was valued around 11 billion dollars during this period.

Chinese smartphones were among the top imports by Kazakhstan with an increase of 28% in 2022. As per China export data reports, China's exports of smartphones to Kazakhstan were around 909 million dollars in 2022. Computers, yarn, fabrics, automotive parts, tyres, footwear, toys were among other significant exports made by China to Kazakhstan.

The Latest China import export data suggest that China imported around 1.7 billion dollars worth of goods from Kazakhstan in May 2023. There were petroleum products, copper, ferroalloys, radioactive chemicals, etc.

On the other hand, China's exports to Kazakhstan totaled 2 billion dollars during May 2023. These include clothing accessories, computers, chemicals, smartphones and footwear. During this period, Kazakhstan shared a minimal trade deficit of 348 million dollars with China. 

The forecast for China-Kazakhstan is very bright for FY 2023. Experts are predicting that the bilateral trade between the two could boom to 35 billion dollars by 2030. Kazakhstan is getting full support from China to improve its supply chain and logistics sector. China is investing heavily in Kazakhstan's transport, storage, construction and processing industry. China is also looking to import quality agricultural goods from Kazakhstan.

A proper market research can bring good fortunes for investors from both sides. Exim Global Trade Intelligence System is one such platform which comes with import export data reports of over 200+ countries that is well supported for market research. This tool is quite cost effective and helps you reach out to the buyers & suppliers of China, Kazakhstan or other countries. It helps generate quality leads and boost your ROI.