Uzbekistan automobiles for export. Photo from la-centr.ru
In 2019, Uzbekistan’s foreign trade turnover amounted to $42.2 billion, which represents a 26.2% ($8.7bn) increase on the previous year’s figure, the press office for the country’s Ministry of Investments and Foreign Trade reported.
Last year, Uzbekistan exported goods and services to a value of $17.9bn, a 28% increase on 2018. The country’s top export was precious and semi-precious metals, which brought in $5.1bn. This was followed by services ($3.6bn), energy ($2.5bn), textile production ($1.6bn) and food products ($1.5bn).
Over the period in question, 2700 businesses joined the export industry, contributing $1bn to the total volume and helping to secure the sale of over 200 new types of products in the markets of 42 countries around the world.
The total value of imports of goods and services into Uzbekistan last year was established at $24.3bn, representing a 25% rise in relation to the previous year. Machinery and equipment were the most sought after import products ($5.6bn), followed by transportation vehicles and their spare parts ($2.6bn), services ($2.4bn), ferrous metals and their products ($2.2bn), electrical equipment ($1.3bn) and foodstuffs ($1.2bn).
Over the course of the year, Uzbekistan conducted trade relations with 178 countries around the world. China occupies first place in the list of the country’s trading partners by volume, with a turnover of $7.6bn. $1bn behind China came Russia. Third position was filled by Kazakhstan with $3.3bn, and the top five was completed by Korea ($2.7bn) and Turkey ($2.5bn).
According to the Uzbekistan State Committee on Statistics, in 2018, the foreign trade turnover of the country was $33.8bn, of which $14.3bn came from exports and $19.5bn from imports. The trade deficit was thereby established at $5.2bn. The figure for 2019 shows that the deficit has continued to grow, reaching $6.4bn.
