Tashkent: Uzbekistan’s foreign trade turnover (FTT) amounted to $48.2 billion from January to September 2024, marking a year-on-year (YoY) increase of $3.5 billion or 7.7%, according to data from the state’s statistics agency.
During the reporting period, Uzbekistan’s exports climbed by 11.5% YoY to $19.77 billion, while imports rose by 5.2% YoY, reaching $28.43 billion.
China maintained its position as Uzbekistan’s largest trading partner, contributing $9.03 billion, or 18.7% of the total trade turnover.
Russia followed closely with $8.66 billion (18.0%), and Kazakhstan ranked third with $3.01 billion (6.2%).
Uzbekistan’s trade with Commonwealth of Independent States (CIS) countries totaled $16.84 billion, reflecting a 1.5% YoY increase.
Russia was the largest contributor in this segment, accounting for 51.4% of the trade, with Kazakhstan and Turkmenistan contributing 17.9% and 5.2%, respectively.
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However, trade with non-CIS countries saw a slight decline of 1.5%, though these countries still comprised 65.1% of Uzbekistan’s total foreign trade turnover.
Trade with the Eurasian Economic Union (EEU) countries, which enjoy a common economic space, also witnessed growth, reaching $12.79 billion.
In terms of sectoral performance, Uzbekistan’s agricultural exports showed strong growth, especially in the fruit and vegetable segment, which saw an 11.8% increase in export volume, totaling 1.5 million tonnes.
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The value of these exports surged by 25.8% to $1.05 billion, with key markets being Russia (44.7%), Kazakhstan (14.1%), Pakistan (14.1%), and Afghanistan (7.3%).
Meanwhile, light industry exports, particularly textiles, recorded a 6.1% decline, amounting to $2.21 billion.
This decrease reflects a shift toward producing more value-added goods rather than raw materials.
Service exports reached $5.01 billion, posting a substantial 29.6% y/y increase.
The travel sector emerged as the leading service export, accounting for 48.3% of the total.
Uzbekistan’s Imports
Uzbekistan’s imports, totaling $28.43 billion, were dominated by machinery and transport equipment, which made up 35.5% of the total.
Industrial goods accounted for 15.1%, and chemicals constituted 12.2%.
Service imports also saw significant growth, increasing by 42.2% YoY to $2.57 billion.
This performance underscores Uzbekistan’s growing role in regional trade, despite ongoing challenges in balancing exports and imports.
