EDB: Trade between Central Asia and the Gulf countries has quadrupled

Over the past five years, trade between the regions has quadrupled and investment has almost doubled, according to EDB data.

According to the first macroeconomic study of the Eurasian Development Bank (EDB) on the Gulf region, trade, economic and investment cooperation between Central Asian and Gulf countries reached $3.3 billion, and total direct investment reached $16.2 billion.

The economies of the Persian Gulf countries are actively diversifying, reducing their dependence on gas and oil. The region's total GDP in 2024 was $2.2 trillion, with Saudi Arabia and the UAE demonstrating the largest economies in the region. The economy is based on oil and gas revenues, followed by air transport, finance and tourism.

The sovereign assets of the Gulf countries exceed $5 trillion, and at the end of 2024, gold and foreign exchange reserves amounted to $813 billion, which significantly protects their economies from fluctuations in the global oil market.