Tashkent (TDI): Uzbekistan’s foreign trade turnover reached $59.4 billion from January to November 2024, marking an increase of $2.1 billion or 3.6 percent compared to the same period in 2023, according to the Uzbek Statistical Agency.
The volume of exports reached to $24.2 billion, a 4.4 percent increase compared to January-November last year.
Imports totaled $35.1 billion, growing by 3.0 percent over the same period.
Kazakhstan emerged as one of the largest economic partners of Uzbekistan, following China and Russia.
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Factors of this trend include trade liberalization, a shared border, and economic collaboration within the CIS free trade zone.
Uzbekistan currently conducts trade with 195 nations, with major FTT shares attributed to: China: 19.0 percent, Russia 18.0 percent, Kazakhstan 6.5 percent, Turkiye 4.4 percent and South Korea 3.0 percent.
The Commonwealth of Independent States (CIS) nations accounted for 35.4 percent of Uzbekistan’s FTT during this period, reflecting a 3.0 percent increase from 2023.
The growing economies of Uzbekistan’s trading partners in the CIS show a potential for increased demand for Uzbek exports.
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However, trade with non-CIS nations witnessed a decline.
Uzbekistan’s trade share with other foreign nations dropped by 3.0 percent compared to the same period in 2023, comprising 64.6 percent of the total FTT.
