Switzerland Becomes Tajikistan’s Third-Largest Trading Partner

Switzerland became Tajikistan’s third-largest trading partner in the first five months of 2026, overtaking Kazakhstan and ranking behind only China and Russia, Avesta reported, citing Tajikistan’s statistics agency. Trade turnover between Tajikistan and Switzerland exceeded $1.013 billion between January and May, marking a sharp rise that pushed the country into the top three trading partners for the first time. The shift represents a significant change from 2025, when Kazakhstan held third place with trade turnover exceeding $1.19 billion, while trade with Switzerland totaled about $386.5 million, nearly half the 2024 level. In the first five months of 2026, Kazakhstan fell to fourth place with around $649 million in bilateral trade, while Switzerland moved up to third. Switzerland also became the leading destination for Tajik exports, accounting for 36.3% of the country’s total exports, or $508.2 million. China ranked second with a 25.7% share, followed by Turkey at 7.6%. China and Russia remain Tajikistan’s two largest trading partners overall. Trade with China reached nearly $1.44 billion during the reporting period, up 50% year-on-year, while trade with Russia rose 23.1% to $1.11 billion. In imports, China accounted for 24.7% of total inbound trade, followed by Russia at 24%, Kazakhstan at 13.8%, and Switzerland at 11.6%. Tajikistan’s total foreign trade turnover for January-May 2026 exceeded $5.7 billion, up 48.5% from the same period a year earlier. Imports accounted for nearly $4.37 billion, while exports totaled about $1.4 billion. The country’s main exports included mineral products, base metals and metal goods, textiles, and agricultural products. Imports were dominated by mineral products, machinery and equipment, metals, food products, and chemicals. The sharp increase in trade with Switzerland likely reflects the role of precious metals and other commodity-linked transactions in Tajikistan’s trade structure.

Kazakhstan’s Exports Rise Nearly 10% in First Quarter of 2026

Kazakhstan increased its foreign trade turnover to $32.9 billion during the first quarter of 2026, while exports rose by nearly 10% year-on-year, according to the country’s Ministry of Trade and Integration. The ministry stated that Kazakhstan completed the January-March period with a “confident strengthening” of its foreign trade position. Amid continued strong business activity and expanding export potential, total trade turnover reached $32.9 billion, an increase of 10.5% compared to the same period in 2025, when the figure stood at $29.8 billion. “The dynamics confirm the resilience of the country’s foreign economic sector and the gradual strengthening of higher value-added products in the structure of Kazakhstan’s exports,” the ministry said. Total exports for the first quarter of 2026 rose by 9.4% to $18 billion, while imports increased by 11.8% to $14.9 billion compared to the same period last year. According to the ministry, the faster growth in imports was primarily driven by increased purchases of investment and technological goods needed for the modernization of Kazakhstan’s industrial, energy and transport infrastructure. Among the most notable increases was the import of electric generating units, which rose to $416.8 million, more than five times the previous level. Imports of gas turbines and aircraft engines, railway locomotives, and equipment for processing and sorting raw materials also increased significantly. “This structure of imports indicates sustained high investment demand within the economy and the active implementation of infrastructure and industrial projects,” the ministry said. Officials also highlighted the performance of Kazakhstan’s non-commodity trade sector. Foreign trade turnover in non-resource goods reached $20.4 billion during the first quarter of 2026, up 13.5% year-on-year. Non-commodity exports rose by 23.4% to $6.9 billion, becoming one of the main drivers of changes in Kazakhstan’s foreign trade structure. The main non-resource exports included copper and copper cathodes, silver, uranium, ferroalloys, animal feed products, and sunflower oil. Exports of sunflower oil increased by nearly 60% to $277.8 million, reflecting what the ministry described as the growing competitiveness of Kazakhstan’s processed agricultural products. Ferroalloy exports rose by 20.1%, pointing to continued growth in the metallurgical sector and wider export markets for domestically manufactured industrial goods. “Kazakhstan’s foreign trade geography remains steadily diversified,” the ministry stated. “China became the country’s largest trading partner in the first quarter, with trade turnover reaching $7.8 billion and accounting for 23.8% of total foreign trade.” Russia retained second place with bilateral trade totaling $6.5 billion, remaining Kazakhstan’s key market for imports and industrial cooperation. Italy, Turkey, and Uzbekistan also ranked among Kazakhstan’s largest trading partners. The ministry also noted Kazakhstan’s export position in Europe. Trade turnover with Italy exceeded $3.4 billion during the first quarter, with Kazakh exports accounting for more than $3 billion of that total. As previously reported by The Times of Central Asia, Kazakhstan aims to increase non-commodity exports to $52 billion by 2030.