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Kazakhstan, Uzbekistan see moderate growth in trade turnover since year-start

22 May 2023 18:00 (UTC+04:00)
Kazakhstan, Uzbekistan see moderate growth in trade turnover since year-start

The trade turnover between Uzbekistan and Kazakhstan from January through April 2023 increased by 7 percent year-on-year, Azernews reports.

According to the data available, the trade turnover between the two countries reached $1.5 billion ($1.4 billion over the same period of 2022).

As such, in the reporting period of 2023, Uzbekistan's exports to Kazakhstan amounted to $426.8 million - up by 16.4 percent, compared to January-April 2022 ($366.5 million).

Kazakhstani exports to Uzbekistan, in turn, totaled $1.08 billion. This figure has slightly increased by almost 4 percent, compared to $1.04 billion over the same period of 2022.

Thus, Kazakhstan's share in the total trade turnover of Uzbekistan from January through April 2023 accounted for 7.7 percent. However, this index has decreased moderately by 0.5 percentage points year-on-year (8.2 percent over the reporting period of 2022).

Meanwhile, earlier this year, Alikhan Smailov, Kazakhstan's Prime Minister, pointed out that Uzbekistan is one of Kazakhstan's largest trading partners with bilateral trade reaching $5 billion in 2022. At the same time, the two countries have set a target for themselves to climb $10 billion in the medium term.

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