Tashkent, Uzbekistan (UzDaily.com) — In January-July 2024, Uzbekistan’s foreign trade turnover makes up 36.8 billion US dollars and increased, compared to the same period in 2023, by 1.9 billion US dollars, or 5.3%.

Of the total FTT volume, exports amounted to 14 786.0 million US dollars (a decrease of 1.1% compared to January-July 2023), and imports – 22 049.3 million US dollars (an increase of 10.1%). As a result, the balance of foreign trade turnover amounted to a negative balance of – 7 263.3 million US dollars.

It should be noted that Kazakhstan has become one of the largest foreign economic partners of Uzbekistan (after China and Russia). The reasons for this are the presence of a common border, trade in the CIS free trade zone, and the liberalization of mutual economic relations.

Today, the Republic of Uzbekistan carries out trade relations with 187 countries of the world. The largest volume of foreign trade turnover is recorded with China (18.6%), Russia (18.5%), Kazakhstan (6.2%), Türkiye (4.6%) and the Republic of Korea (3.2%).

In the structure of the foreign trade turnover of the republic, a significant share is noted in the Tashkent city, which is 39.9%, or 14 695.8 million US dollars, and the smallest share is recorded at 0.6%, or 239.2 million US dollars, which is in the Surkhandarya region.

The share of foreign trade turnover of the CIS countries in the period under review, compared to the same period in 2023, increased by 3.1% and, in general, their share amounted to 35.3%.

Economic growth of countries trading with Uzbekistan may lead to an increase in demand for the republic’s exports from consumers in these countries.

The volume of foreign trade turnover of other countries of the world for January-July 2024, compared to the same period in 2023, accordingly decreased by 3.1% and amounted to 64.7% of the total volume of foreign trade turnover.

In January-July 2024, the foreign trade turnover of the Republic of Uzbekistan with the CIS countries reached 13 020.8 million US dollars, of which the volume of exports amounted to 4 940.3 million US dollars, and the volume of imports – 8 080.5 million US dollars.

Trade in the CIS free trade zone has a positive effect on Uzbekistan’s overall foreign trade turnover. The largest volume of foreign trade turnover with the CIS countries was recorded with Russia (52.2%), Kazakhstan (17.5%) and Turkmenistan (5.7%).

The foreign trade turnover of the Republic of Uzbekistan with the EAEU countries in the period under review amounted to 9 913.1 million US dollars, of which the volume of exports was 3 230.5 million, and the volume of imports was 6 682.5 million US dollars.

It should be noted that a common economic territory with a single customs system has been formed between the EAEU member states (Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan), ensuring the freedom of movement of goods and services, the movement of migrants and the movement of capital.

The development of international economic relations contributes to stable growth of exports, and this, in turn, creates the basis for achieving certain results. Based on the reforms carried out aimed at increasing the country’s export potential, supporting exporters from the state and expanding the range of export products, the number of exporters reached 6 085, and the volume of exports of goods and services amounted to 10 591.8 million US dollars (excluding non-monetary gold) and, compared to the same period in 2023, increased by 10.9%.

In the structure of exports, goods account for 74.9%, of which other goods account for 28.6%, industrial goods – 16.8%, food products and live animals – 7.3%, chemicals and similar products – 6.3%.

The share of CIS countries’ exports in JanuaryJuly 2024, compared to the same period in 2023, increased by 3.1%.

Our main partners in the export of goods and services in foreign trade turnover in January-July 2024 were such countries as Russia, China, Kazakhstan, Türkiye, Afghanistan, France and the Kyrgyz Republic. Their share in the total export volume reached 40.7%.

In the structure of the republic’s exports, a significant share is noted in the Tashkent city, which is 21.2%, or 3 127.8 million US dollars, and the smallest share is recorded at 0.8%, or 116.8 million US dollars in the Jizzakh region.

In January-July 2024, 1 214.9 thousand tons of fruit and vegetable products were exported, and, compared to the same period in 2023, this figure increased by 8.1%, or 91.3 thousand tons. The main export markets for fruit and vegetable products were Russia (43.4%), Pakistan (15.3%), Kazakhstan (15.3%), and Afghanistan (5.9%).

The volume of exports of fruit and vegetable products in the period under review amounted to 792.3 million US dollars (the growth rate, compared to the same period in 2023, amounted to 17.7%, respectively). In the total volume, exports amounted to 5.4%.

Based on the results of January-July 2024, the largest volume in value terms of exports of fruits and vegetables comes from Russia (43.4% of the total volume of fruits and vegetables), which exceeds the volume of exports, for example, from Pakistan, by 2.8 times.

In recent years, the light industry has seen the development of high value-added production. Being an economically important sector for Uzbekistan, the light industry provides a high level of employment and contributes to the industrial potential and international authority of our country.

The increase in textile exports can be seen as a result of reforms carried out to produce finished goods instead of raw cotton and create added value.

Based on the results of January-July 2024, textile products were exported in the amount of 1 777.6 million US dollars, which amounted to 12.0% of its total volume and, compared to the same period in 2023, it decreased by - 4.4%.

In the structure of exports of textile products, the main share is also occupied by yarn (45.8%) and finished textile products (38.5%). Thus, in January-July 2024, textile products were exported to 55 countries.

As a result of the widespread use of new production technologies and modern equipment in the country, as well as the introduction of a quality management system, labor productivity is increasing, which, in turn, allows finished products to find their place in world markets.

The volume of services exports for January-July 2024 amounted to 3 708.2 million US dollars, or 25.1% of the total volume of trade exports and increased by 26.3% compared to the same period in 2023. The lion’s share of services exports is made up of travel (tourism) (47.1%), transport services (37.8%), telecommunications, computer and information services (8.1%), and other business services (2.9%). At the same time, the largest share of other services (4.1%) is, respectively, insurance and pension services (1.1%), financial services (1.1%), construction services (0.7%), etc.

During the reporting period, imports amounted to 22 049.3 million US dollars (an increase in growth rates, compared to January-July 2023, amounted to 10.1%). The main share in its structure is occupied by machinery and transport equipment (35.4%), industrial goods (15.1%), as well as chemicals and similar products (12.4%).

The analysis of the dynamics of imports of goods also showed that in January-July 2024, compared with the same period in 2023, the volume of imports of goods increased by 1380.3 million US dollars and amounted to 20 146.1 million US dollars, and imports of services reached 1 903.2 million US dollars.

The share of imports from the CIS countries, compared to the same period in 2023, increased by 3.1% and, according to the results of January-July 2024, it amounted to 36.6%.

In general, goods and services from 164 countries were imported to Uzbekistan in January-July 2024. More than 2/3 of imports come from such large partner countries as China, Russia, Kazakhstan, the Republic of Korea, Türkiye, Turkmenistan and Germany.

In the structure of the republic’s imports, a significant share is noted in the Tashkent city, which is 52.5%, or 11 568.0 million US dollars, and the smallest share is recorded in the Surkhandarya region – 0.4%, or 85.4 million US dollars

The volume of imports of services for January-July 2024 amounted to 1 903.2 million US dollars, or 8.6% of its total volume and increased by 51.6% compared to the same period in 2023. The main share of imports of services is made up of travel (tourism - 52.5%), transport services (21.3%), telecommunications, computer and information services (10.0%), as well as other business services (5.8%).

In addition, other services accounted for 10.4% of their total imports, including a high share of fees for the use of intellectual property not classified elsewhere (3.9%), maintenance and repair services not classified elsewhere (2.8%), insurance and pension services (1.4%), etc.

According to the results of January-July 2024, the volume of industrial goods in the import structure reached 3 330.4 million US dollars and decreased by 1.7% compared to the same period in 2023, in general, the specific weight in the total import volume was 15.1%.

The main imports of industrial goods are cast iron and steel (1 475.4 million US dollars), metal products (461.6 million US dollars), textile yarn, fabrics, finished products (312.4 million US dollars), rubber products (241.6 million US dollars), etc