China’s exports shifting from West to Global South
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Loading... - Sarika Ansari
- 25 Apr 2023
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Shipments to Central Asia up 55% year on year in March marking a wider switch from developed to developing world markets
Central Asian countries increased imports from China in March by 55% over the year-earlier month, beating the 35% jump in Chinese shipments to Southeast Asia reported previously.
Former Soviet republics as well as Turkey and Iran all contributed to a near-record gain in Chinese exports to the region, a focus of Beijing’s Belt and Road Initiative.
China’s exports to the region have nearly tripled since 2018. The chart below includes Turkey and Iran in the Central Asian total.
Several factors contributed to the export boom, which included every country in the region.
China is investing heavily in energy, mineral resources and rail transport across the Asian continent, including a new rail line between China, Kyrgyzstan and Uzbekistan scheduled to start construction next year. Read More…
