Turkmenistan becomes largest trading partner for Gulf countries in Central Asia
In 2024, the volume of mutual trade between the Gulf countries and Central Asia reached $3.3 billion, a more than fourfold increase compared to 2020. According to data from the Eurasian Development Bank, Turkmenistan holds the leading position in the region.
Turkmenistan's share of the total trade turnover was $2 billion, or 61%. The country also showed the highest growth rate, increasing by 9.9 times since 2020. Trade with the Gulf countries accounts for about 10% of Turkmenistan's total foreign trade, which is the highest figure in the region.
For comparison, Uzbekistan is in second place with $740 million (23%), and Kazakhstan is third with $302 million (9%). Among the Gulf countries, the United Arab Emirates remains the absolute leader, accounting for 97% of all trade with Central Asia.
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