Uzbekistan’s foreign trade turnover makes up US$15.76 billion in January-May
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan’s foreign trade turnover made up US$15.76 billion in January-May 2019 and increased by US$3.02 billion, or 23.7% more than the corresponding period of last year. Of this number, exports reached US$6.42 billion (growth rate - 14.1%), and import - US$9.34 billion (growth rate - 31.3%).
In January-May 2019, Uzbekistan conducted trade relations with more than 159 countries of the world.
The foreign trade balance reached minus US$2.92 billion. In January-May 2019, the number of enterprises engaged in the export of goods, compared to the same period last year, increased by 673 units and their total number reached 3,521 units.
Analysis of the dynamics of foreign trade turnover also showed an increase and in January-May 2019, it amounted to US$15.76 billion, which, compared with the same period last year, increased by US$3.02 billion.
As a result of measures taken by the government of the republic to strengthen cooperation with the CIS countries and comprehensive support for foreign trade, the share of mutual trade with the CIS member states in Uzbekistan’s foreign trade in January-May 2019 reached 35.3% (US$5.55 billion). The pace growth in foreign trade, compared with the previous year, amounted to 34.2%.
The share of other countries in foreign trade turnover in January-May 2019 decreased by 2.8% and, compared to the same period last year, reached to 64.7%.
The volume of exports of Uzbekistan made up US$6.42 billion in January-May 2019 (an increase, compared with the same period last year, reached 14.1%). The share of goods in the composition of exports reached 80.7%, of which energy carriers and petroleum products - 18.9%, textiles and textile products - 10.2%, food products - 9.4%, ferrous metals and products from them - 1, 9%, non-ferrous metals and products from them - 6.3%.
Exports excluding gold increased by 27.6%, reaching US$5.19 billion.
An analysis of the structure of exported goods and services in January-May 2019 also showed that, compared with the corresponding period last year, there were no significant changes, but it should be noted that the share of exports of all types of goods and services in total exports, in addition to gold, January-May 2019, compared with the corresponding period last year, decreased.
Analysis of the dynamics of exports of goods and services also showed that in January-May 2019, compared with January-May 2018, the volume of exports of goods increased by US$703.4 million and amounted to US$5.18 billion. Services exports reached US$1.23 billion.
The main partners in the export of goods and services in foreign trade were China (22.1% of total exports), Russia (14.5%), Kazakhstan (8.0%), Turkey (7.1%), Kyrgyzstan (4,6%), Afghanistan (3.3%) and Tajikistan (1.7%).
The composition of the exported goods to these countries includes a group of energy carriers and petroleum products, chemical products and products from it, as well as food products.
If goods and services in January-May 2018 were exported to 137 countries, then in January-May 2019 - in 142 countries.
The volume of exports of services in January-May 2019 made up US$1.23 billion, or 19.3% of its total volume and increased, compared to the same period last year, by 8.0%. Transport services and tourism, as well as telecommunication, information, computer and financial services, account for the lion’s share in the export of services.
The export volume of fruits and vegetables amounted to more than 592,800 tons and reached US$466.8 million (growth rate - 53.0%, in value terms).
More than 485,000 tons of vegetables were exported (physical growth increased by 42.3%) for the amount of US$266.9 million, fruits and berries – 107,800 tons (physical volume increased by 13.1% ) in the amount of US$199.9 million (growth rates in terms of value, compared to the same period last year, were 78.5% and 28.6%, respectively).
As a result of the expansion of the country’s export potential and the development of new markets, exports of fruits and vegetables, grapes, melons, legumes, as well as dried vegetables and fruits are growing. In January-May 2019, exports of fruits and berries, as well as vegetables, reached US$281.3 million, which is 80.7% more (in value terms) than in the same period last year).
In January-May 2019, exports of textile products made up US$653.7 million and increased, compared to the same period of 2018, by 21.9%, which is 10.2% of total exports. From the structure of textile exports, the main share is cotton yarn (58.6%), as well as finished knitwear and garments (22.4%). Since the beginning of the year, more than 336 types of goods have been exported to 50 countries of the world.
It is gratifying that, in the first years of independence, exports of light industry products of the republic had a raw material focus, now our country has begun to occupy leading positions in the export of finished products of the textile and light industries.
In January-May 2019, the volume of imports in the Republic of Uzbekistan reached US$9.33 billion (growth rate - 31.3%). The main share in its structure is occupied by machinery and equipment, including parts and components (43.4%), chemical products and products from it (13.6%), as well as ferrous metals and products from them (7.7%).
An analysis of the structure of imported goods and services in January-May 2019 also showed that, compared with the corresponding period last year, there were no significant changes, but it should be noted that the share of imports of machinery and equipment, including parts and components, in its total volume increased from 38.9% to 43.4%.
In January-May 2019, goods and services from 141 countries were imported into Uzbekistan. Five major partner countries (the People’s Republic of China, the Russian Federation, the Republic of Korea, Kazakhstan and Turkey) account for a total of 62.8% of total imports, which is US$5.86 billion.
The volume of imports of services in January-May 2019 made up US$883.9 million, or 9.5% of total imports and decreased, as compared with the same period last year, by 0.7%. Tourism imports (travel), transportation services, as well as construction services, telecommunications, information and computer services make up the bulk of imports of services.
In January-May 2019, the volume of imports of construction materials amounted to US$510.0 million and increased, compared to the same period of 2018, by 16.1%. The share of imports of building materials in the total volume reached 5.5%.
In the structure of imports of building materials, the main share is occupied by wood and wood products (47.3%), cement (14.0%), glass and wood products (4.7%), as well as asbestos (2.5%).
Imports of building materials in January-May 2019, compared with the corresponding period of 2018, increased significantly. The growth in imports of construction materials is due to large-scale construction and reconstruction work in the country.
It should be noted that the government is implementing a number of reforms aimed at the production of building materials and products from them, as well as providing the domestic market with high-quality and, at the same time, low-cost construction materials.
The increasing volume of imports of machinery and equipment is a reflection of industrialization policies, as well as an active policy to support foreign direct investment in the creation, modernization and increase in production capacity.