Uzbekistan’s Trade Surges: 2023 Import/Export Statistics Revealed

In 2023, Uzbekistan’s foreign trade experienced significant growth, with the total turnover reaching $62.57 billion, representing a substantial increase of 23.8% compared to the previous year, according to data released by the Statistics Agency under the president of Uzbekistan.

The surge in foreign trade was primarily driven by a notable rise in both exports and imports. Exports saw a considerable increase of 23.8% to reach $24.4 billion, while imports also rose to $30.1 billion, reflecting a growth rate of 24%. However, this growth was accompanied by an expansion of the foreign trade deficit, which surpassed $13.7 billion, showing a significant 24.3% increase from the deficit of -$11.03 billion recorded in 2022. It’s noteworthy that despite the deficit, certain factors such as record gold exports and a positive balance in services helped mitigate its impact.

Excluding gold, the overall exports experienced a growth of 4.5%, reaching $16.17 billion. However, there was a decline in the proportion of manufactured goods in exports, which decreased from 22.2% to 16.6%.

In terms of specific export categories, sales of fruits and vegetables witnessed a moderate increase in both volume and value, with 1.76 million tons exported, totaling $1.18 billion in value. Major export destinations for fruits and vegetables included Russia, Pakistan, China, and Kazakhstan.

Furthermore, exports of grains and related products, coffee, tea, cocoa, beverages, and oil products experienced significant surges. Conversely, exports of gas, electric current, fertilizers, non-ferrous metals, and medical/pharmaceutical products saw declines during the same period.

Turning to imports, food supplies remained at a high level, with noticeable increases in imports of grains, coffee, tea, cocoa, spices, vegetable oils, meat, fruits, dairy products, and eggs. Additionally, imports of oil and oil products, coal, and gas witnessed substantial increases.

Interestingly, there were fluctuations observed in gas imports throughout the year, with a substantial increase in gas supplies during certain periods, possibly due to production declines at certain enterprises.

Imports of automobiles, spare parts, aircraft, fertilizers, iron, steel, metal products, textile products, rubber products, and paper/cardboard also increased significantly, reflecting varied dynamics in trade.

Furthermore, services exports experienced a notable increase of 16.2% compared to 2022, with transportation and tourism being the major contributors. On the other hand, imports of services saw a marginal increase during the same period.

Moreover, industrial goods imported to Uzbekistan increased by 10%, with significant contributions from countries like Russia, China, Kazakhstan, Turkey, and South Korea. Comparatively, there were shifts in the share of imports from these countries compared to the previous year.

Overall, Uzbekistan’s foreign trade landscape in 2023 depicted a complex interplay of various economic factors, with notable increases in both exports and imports across different sectors, alongside fluctuations in trade balances and the emergence of new trade patterns with key partner countries.

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