The decline in trade volumes between Kazakhstan and Uzbekistan in 2023 and 2024 was primarily driven by price volatility in Kazakh raw materials, according to a report by KazTAG, citing Kazakhstan’s Ministry of Trade and Integration.
Kazakhstan’s Minister of Trade, Arman Shakkaliyev, stated that while the physical volume of exports to Uzbekistan remained stable over the past two years, the monetary value of trade declined.
According to Kazakh estimates, bilateral trade between the two countries has averaged $4–4.1 bn over the last two years.
Meanwhile, data from Uzbekistan’s Statistics Agency shows that in 2023, trade turnover between the two countries exceeded $4.4 bn, but in 2024, it declined to $4.2 bn. Over the same period, Kazakh exports to Uzbekistan fell from $3 bn to $2.8 bn.
