The volume of trade between Central Asian countries and the Gulf states (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates) reached $3.3 billion in 2024, an increase of 4.2 times since 2020, according to the Eurasian Development Bank (EDB).
Imports to Central Asian countries from the Gulf states accounted for 80% of the trade turnover.
The largest trading partners of the Gulf states in Central Asia were Turkmenistan – $2 billion (61% of the total), Uzbekistan – $740 million (23%), and Kazakhstan – $302 million (9%).
The highest growth rates of trade with the Gulf states were recorded in Turkmenistan (9.9 times), Kyrgyzstan (9.5 times), and Uzbekistan (8.1 times).
The UAE was the absolute leader among the Gulf states, accounting for 97% of all trade with Central Asia.
The greatest significance of trade with the Gulf states was in Turkmenistan (about 10% of the country’s total foreign trade turnover). For Kyrgyzstan, this figure was about 1%, and for the other countries – less than 1%.
The EDB expects that trade between Central Asia and the Gulf states will continue to grow. The unrealized potential is significant and estimated at $4.9 billion, including $4.4 billion of the potential export from the Gulf states (motor vehicles, electronics, and jewelry) and $0.5 billion of the potential export from Central Asian countries (precious and non-ferrous metals and agricultural products).
