Monday, 22, April, 2024

Russia again surpassed China in terms of international trade due to the growth of Uzbek imports. The two-way trade between Uzbekistan and Russia reached $8.33 billion in eleven months, making Russia the main trading partner ousting China,  the State Statistics Committee said in a report.

Uzbekistan’s total international trade topped $44.94 billion and increased by 18% compared to last year. YTD, exports reached $17.36 billion (+12%), imports amounted to $27.58 billion (+22.1%). The international trade deficit surpassed $10.27 billion, surpassing last year almost one and a half times. 

In November, Uzbekistan received $557 million from gold exports. Prior to this, the proceeds did not change for seven months.

Russia accounts for the largest share of Uzbekistan’s exports ($2.79 billion) and the second largest share of imports ($5.54 billion). While, China remains the main supplier of goods to the country ($5.79 billion) and the second largest export market ($2.38 billion).

In addition to these two countries, Kazakhstan ($4.19 billion) and Turkey ($2.93 billion) are among Uzbekistan’s top trade partners.

Exports

Uzbekistan received the largest amount of revenue from manufactured goods - $4.01 billion (+1.3%). Slightly more than half came from fabrics and yarn ($2.05 billion, +0.9%), another $1.34 billion (-10.2%) from non-ferrous metals. Exports of steel and iron increased by almost a third to $170.9 million.

Another $1.467 billion (+18.8%) was food exports, mainly fruits and vegetables ($1.046 billion). The third place is occupied by chemical products with $1.22 billion, which is 24.1% more than last year’s level. Of these, $393.8 million was brought by fertilizers.

Deliveries of oil and gas reached $1.13 billion and surpassed last year by almost a third (31.9%). The volume of exports of oil and oil products doubled and amounted to $148.4 million, while gas sales reached $910.9 million.

From the export of machineries and equipment, Uzbekistan received $881.2 million (+43%). Of these, $ 319 million was provided by motor vehicles - less than last year by 7.6%. At the same time, supplies of vegetable oil and fats increased 19.5 times to $20.1 million.

RMGs generated $835.7 million in revenue, up by 40.5% year-on-year. Also, deliveries of Uzbek furniture increased to $19.9 million (+225%).

Imports

Machinery and equipment remain the main item, with $8.56 billion (+16.2%)  spent in ten months. In particular, Uzbekistan imported industrial equipment for $1.92 billion (+11.1%), electrical engineering - for $912.7 million (+15.3%).

In the field of manufactured goods, imports reached $5.25 billion, an increase of 26.3%. Deliveries of steel and pig iron increased by 25.6% and surpassed $2.27 billion, while imports of fabrics and yarn grew by 44.4%, amounting to $497.7 million.

Imports of chemical products amounted to $3.81 billion (+17.3%), of which more than a third fell on medicines ($1.44 billion). Food imports reached $3.05 billion (+39.5%), with grains accounting for the largest share.

Energy imports amounted to $1.56 billion (+20.6%). The bulk of the amount fell on oil products, the demand for which increased by 17.9%. At the same time, Uzbekistan resumed gas imports in November - its amount surpassed $104.8 million.

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