ASHGABAT, Turkmenistan, September 4. Turkmenistan has emerged as the top Central Asian partner for the Gulf countries, with bilateral trade reaching $2 billion in 2024, accounting for 61 percent of the total trade between the Gulf states and the region.
Data obtained by Trend from the Eurasian Development Bank (EDB) shows that trade between Central Asia and the Gulf countries—which include Bahrain, Qatar, Kuwait, the UAE, Oman, and Saudi Arabia—has grown more than fourfold since 2020, reaching $3.3 billion. The majority of this trade consists of imports from Central Asia to the Gulf, with Turkmenistan showing the fastest growth rate, increasing nearly tenfold over the past four years.
The UAE continues to assert its dominance as the preeminent
trading partner for Central Asia within the Gulf ecosystem,
representing a staggering 97 percent of the region's trade dynamics
with Gulf states. In the context of Turkmenistan's economic
landscape, the trade dynamics with the Gulf nations constitute
approximately 10 percent of the overall foreign trade turnover,
underscoring its pivotal significance in the geopolitical and
economic framework.
Industry analysts indicate that there exists a considerable
reservoir of unexploited opportunities within the Central Asia-Gulf
trade nexus, projected to be valued at approximately $4.9 billion.
Turkmenistan is poised to assume a pivotal position in the
enhancement of export dynamics for metals, agrarian commodities,
and a diverse array of goods, concurrently capitalizing on the
influx of vehicular technology, electronic devices, and luxury
adornments from the Gulf corridor.
