Uzbekistan's foreign trade fell 17.2% y/y in January to $4.2bn, with the trade deficit widening from $851mn a year ago to $1.97bn, according to the national statistics agency.
Exports dropped 47.1% y/y to $1.12bn. Imports rose 4.1% y/y to $3.08bn.
President Shavkat Mirziyoyev expressed his dissatisfaction with the current direction of export volumes during a meeting on January 18. Mirziyoyev critiqued the export plan for 2024, saying it was necessary to "increase exports by at least 30% per year" to drive the economy forward. He lamented that, excluding gold, export growth in 11M23 was merely 5.7% y/y.
Mirziyoyev highlighted concerns regarding export volume declines in certain key industries and regions. He noted that "exports in 10 regions and cities failed to reach even half of the previous year's levels".
Prime Minister Abdulla Aripov has been instructed to take disciplinary action against deputy khokims (mayors) for investment in Andijan, Bukhara, Kashkadarya and Navoi regions, as well as against the mayors of 10 districts and cities.
Related Articles
Unusually intense heatwave hit Central Asia in March, may impact crop yields
Central Asia experienced an unusually intense heatwave in March that could have an impact on agricultural crop yields, according to an April 4 ... more
Russia’s expulsions of migrants reportedly nearly double in 2024 to around 80,000
Russia in 2024 expelled more than 80,000 migrants for immigration rule violations, compared to 44,200 in 2023 and 26,600 in 2022, TASS reported on January 8. The Russian state news agency cited a ... more
Kazakhstan’s transit of Russian oil to Uzbekistan and China amounts to 10.2mn tonnes in 2024
Russia’s transit of oil through Kazakhstan’s pipeline system, operated by main pipeline operator KazTransOil, to China and Uzbekistan totalled 10.21mn tonnes in 2024, ... more
Most Read
-
Armenia courts African countries to supply diamond industry
27 days ago
-
Russia’s Alrosa finds its largest diamond ever, as Mirny mining operations restart
10 days ago
-
COMMENT: Embracing “Greater Central Asia” has become a strategic imperative for US
21 days ago
-
From blood diamonds to critical minerals: Sierra Leone’s mining transformation
27 days ago