Uzbekistan's 4M24 foreign trade reaches nearly $21bn with 6% growth

By Mokhi Sultanova in Tashkent May 24, 2024

Uzbekistan's foreign trade turnover nearly reached $21bn in 4M24, following a 5.9% y/y expansion, reported the country's official statistics agency. 

Total trade volume for the four months was reported at $20.9bn, with exports up by 9% y/y to $8.5bn and imports higher by 3.9% to more than $12.4bn. Uzbekistan's trade deficit was thus $3.9bn.

China remains Uzbekistan's largest trading partner, with a trade volume of $3.96bn, accounting for 19% of Uzbekistan's total trade. Exports to China amounted to $644.4mn in 4M24, while imports were $3.32bn. The trade volume was up by 18.24% y/y, driven primarily by imports.

Russia was by a relatively small margin compared to China, Uzbekistan's second-largest trading partner, with a trade volume of $3.84bn, representing 18.4% of total trade. Exports to Russia stood at $1.02bn, and imports were $2.82bn. The trade volume with Russia grew 29.37% y/y.

Kazakhstan's trade volume with Uzbekistan declined to $1.22bn. It made up 5.9% of total trade. Exports to Kazakhstan were $383.9mn, while imports stood at $841.1mn. The trade volume decreased by 18.77% y/y, mainly due to a reduction in imports.

In relation to other notable trade partners

  • Turkey: Trade volume decreased to $920.2mn, with exports at $378mn and imports at $542.3mn. Trade was down 15.78% y/y.
  • South Korea: Trade volume dropped to $695mn. Exports stood at $13.4mn, and imports were $681.5mn. Trade was down 13.37% y/y.
  • France: Trade with France increased to $386.4mn. Exports grew to $264.6mn, while imports were $121.8mn. Trade was up 52.13% y/y.
  • Germany: The volume declined to $345mn. Exports were $26.3mn, and imports $318.7mn. Trade decreased by 56.29% y/y.
  • Afghanistan: Trade volume with neighbouring Afghanistan grew to $308.6mn. Exports were $301.4mn, and imports $7.1mn. Trade was up 18.56% y/y.
  • Turkmenistan: Trade with another neighbouring country, Turkmenistan, decreased to $288.5mn. Exports were $30.7mn, and imports $257.8mn. The decline measured 8.8% y/y.
  • India: Trade with India increased to $270.3mn. Exports were $15.7mn and imports $254.5mn. The trade volume gain amounted to 40.86% y/y.

Related Articles

Russia denies forcing Nigerian students to sign up for war in Ukraine

The Russian Embassy in Nigeria has firmly denied allegations that Nigerian students in Russia are being coerced into joining the military to support Moscow's invasion of Ukraine. This denial comes ... more

Russian channel NFPT wins court order to attach Google's shares, trademarks in South Africa

A Russian television station has won a court order for the seizure of Google’s assets in South Africa over the global tech giant’s failure to reinstate the Moscow-based entity’s YouTube ... more

Mountaineering Kyrgyz activist describes planting rainbow flags on Vladimir Putin Peak

Kyrgyz founder of “queer heroes” site Pink Summits Dastan Kasmamytov has told how he was part of an  expedition that planted rainbow flags on top of ... more

Dismiss