Uzbekistan’s foreign trade turnover reaches US$24.52 billion in January-July
20/08/2019 21:05
Uzbekistan’s foreign trade turnover reaches US$24.52 billion in January-July
20/08/2019 21:05
Tashkent, Uzbekistan (UzDaily.com) -- According to the results of January-July 2019, the foreign trade turnover of Uzbekistan made up US$24.52 billion and grew by US$6.83 billion, or 38.6% compared to the same period of 2018.
According to the State Statistics Committee, of this number, exports reached US$10.88 billion (growth rate - 44.5%), while imports - US$13.64 billion (growth rate - 34.3%). A passive balance of foreign trade turnover in the amount of US$2.76 billion was recorded.
Uzbekistan carried out trade relations with more than 167 countries of the world. The largest volume of its foreign trade turnover among the countries of the world was recorded with China (18.5%), the Russian Federation (14.6%), Kazakhstan (8.1%), the Republic of Korea (6.5%), Turkey (5.7% ), Germany (2.2%) and Kyrgyzstan (2.1%).
An analysis of the dynamics of foreign trade turnover also showed growth, and in January-July 2019 it amounted to US$24.52 billion, which, compared to the same period of last year, increased by US$6.83 billion.
Positive changes are observed in the structural dynamics of foreign trade turnover. So, compared with the same period of last year, the share of exports in foreign trade grew by 1.8 percentage points.
Due to traditional trade relations with the CIS countries and comprehensive support of foreign trade, the share of mutual trade with the CIS member states in the foreign trade turnover of Uzbekistan in January-July 2019 reached 33.2% (US$8.14 billion), the growth rate of foreign trade turnover, compared with the previous year, amounted to 19.5%.
Current trade relations with other foreign partners also continue to develop. Thus, the share of other countries in foreign trade turnover in the reporting period reached 66.8% (US$16.38 billion), the growth rate of foreign trade turnover, compared to the same period of last year, made up 50.6%.
Among the 20 major partner countries for foreign economic activity, there is an active balance of foreign trade with five countries, in particular with such countries as Kyrgyzstan (US$347.2 million), Afghanistan (US$315.6 million), Tajikistan (US$88.7 million), France (US$27.3 million) and Iran (US$16.2 million). For the remaining 15 countries, a passive balance of foreign trade was maintained.
The policy pursued by the government to expand the country’s export potential allowed achieving certain results. So, during the reporting period, the number of entities involved in the export of goods and services, compared with the same period of last year, increased by 838 units and their total amount was 4,540 units.
The export volume of economic entities engaged in the export of goods and services in the reporting period was fixed at US$10.88 billion (an increase, compared to the same period of last year, reached 44.5%). The share of exported goods was 82.8%, of which energy carriers and oil products - 15.5%, textiles and textile products - 8.4%, food products - 8.3%, non-ferrous metals and metal products - 5.1%, chemical products and products from it - 4.9%.
The volume of exports excluding gold increased by 24.2%, amounting to US$7.42 billion.
An analysis of the structure of exported goods and services in January-July 2019 also showed that, compared to the corresponding period of the last year, there were no significant changes, however, it should be noted that the volume of exports of all types of goods and services, except for chemical products and products from it , in January-July 2019, compared with the corresponding period of last year, increased.
Over the past five years, the dynamics of export diversification has been observed. So, the share of textile products increased by 0.4 percentage points and amounted to 8.4%, machinery and equipment - 2.0%, ferrous metals and products from them - 1.6%. In other positions, except for cotton fiber, a decrease in the share is noted due to a significant increase in the share of gold in the export structure (from 12.1% to 31.8%).
The decrease in the share of exports of cotton fiber is explained by the acceleration of its domestic processing and, on this basis, the release of finished textile products with a view to their further export.
The largest share of exports is occupied by natural gas (a share in the total export of goods 17.0%), textiles (10.1%), copper and its products (4.5%), fruits and berries (4.1%).
Over the past three years, the volume of exports to the CIS countries has increased, but their share in the total volume of exports has decreased from 44.1% in 2015 to 32.5% in 2019. Accordingly, due to accelerated growth in exports to other foreign countries, their share in total exports amounted to 67.5%.
The main partners in the export of goods and services in foreign trade in January-July 2019 were China (16.4% of total exports), Russia (12.8%), Kazakhstan (7.6%), Turkey (6.1 %), Kyrgyzstan (3.9%), Afghanistan (2.9%) and Tajikistan (1.6%).
This year, among seven major partner countries for the export of goods and services, Tajikistan has regained its place in terms of the share of exports instead of Iran. Meanwhile, Kyrgyzstan also strengthens its position every year along with Afghanistan.
The geography of partner countries for the export of goods and services compared with the same period of last year increased from 144 to 151 countries.
The composition of exported goods among large export partner countries includes a group of energy carriers and oil products, chemical products and products from it, as well as food products.
The volume of exports of services in January-July 2019 made up US$1.87 billion, or 17.2% of its total volume and increased by 10.7% compared to the same period of last year. In the export of services, the lion’s share is transport services and travel (tourism), as well as telecommunications, information, computer and financial services.
The volume of export of fruits and vegetables in physical terms exceeded over 840,700 tonnes and, in value terms, US$779.6 million (growth rates, compared to the same period of last year, were 20.3% and 46.7%, respectively). Of these, more than 573,300 tonnes of vegetables were exported in the amount of US$409.8 million, as well as 267,400 tonnes of fruits and berries in the amount of US$369.8 million (growth rate in value terms, compared to the same period of last year, respectively, amounted to 96.4% and 14.5%).
Due to the fact that our government pays considerable attention to the development of agriculture and horticulture, the quality and volume of exported goods are increasing from year to year. So, in January-July 2019, the share of fruits and vegetables in the total export amounted to 7.1%.
In January-July 2019, the volume of textile exports amounted to US$911.7 million and increased, compared to the same period of 2018, by 19.6%, which reached 8.4% of total exports. Of the structure of export of textile products, the main share is cotton yarn (57.5%), as well as finished knitwear and garments (23.5%). Since the beginning of the year, more than 368 types of goods have been exported to 52 countries.
As a result of practical work to diversify the textile industry of the republic and stimulate the export of finished products, our country’s potential in this area is growing.
The largest share of textile exports was carried out to the Russian Federation (US$352.4 million - 38.6%), China (US$251.6 million - 27.6%) and Turkey (US$95.4 million - 10.5%).
In January-July 2019, the volume of imports in the Republic of Uzbekistan made up US$13.64 billion (growth rate - 34.3%). The main share in its structure is occupied by machinery and equipment, including parts and accessories (44.8%), chemical products and products from it (13.0%), as well as food products (7.8%).
An analysis of the structure of imported goods and services in January-July 2019 also showed that, compared to the corresponding period of the last year, the share of imports of machinery and equipment, including parts and accessories, in its total volume increased from 39.4% to 44.8 %, and the share of food imports decreased from 9.6% to 7.8%.
The largest share of imports of energy and oil products (95.4%), ferrous metals and products from them (66.0%), food products (66.2%), as well as non-ferrous metals and products from them (65.0%) in the CIS countries, while in other foreign countries the lion’s share falls on machinery and equipment (88.5%), as well as on chemical products and products from it (78.9%).
An analysis of the dynamics of imports of goods and services also showed that in January-July 2019, compared with the corresponding period of last year, the volume of imports of goods increased by US$3 424.2 million to 12.33 billion billion. Service imports reached US$1.31 billion
In dynamics, a stable ratio of the share of imports with the CIS countries and other foreign countries remains, which is 33.8:66.2.
According to the results of the reporting period, China with the import share in the total volume of 20.2% took the first place among the major import partner countries, ahead of the Russian Federation with the share of 16.0%.
Due to the accelerated growth in imports by the Republic of Uzbekistan, Singapore (with a growth rate of 10.4 times more than the same period of last year), Brazil (9.5 times) And Iran (2.0 times) were in the top twenty countries of major import partner countries.
According to the results of January-July 2019, goods and services from 146 countries were imported to the Republic of Uzbekistan.
Seven major partner countries (People’s Republic of China, the Russian Federation, the Republic of Korea, Kazakhstan, Turkey, Germany and the USA) share 68.4% of the total imports, which amounts to more than US$9.33 billion.
The volume of imports of services in January-July 2019 reached US$1.31 billion, or 9.6% of the total volume of imports and increased by 4.8% compared to the same period of last year. The main share in the import of services were tourism (travel), transport services, as well as construction services, telecommunications, information and computer services.
In January-July 2019, the volume of imports of building materials made up US$748.6 million and increased by 18.1% compared to the same period of 2018. The share of imports of building materials in their total volume reached 5.5%.
Wood and its products (45.5%), cement (14.1%), glass and products from it (4.6%), and also asbestos (2.2%) occupy the bulk of the structure of imports of building materials.
The volume of imports of building materials in January-July 2019, compared to the corresponding period of 2018, increased significantly. The growth in imports of these materials is primarily associated with large-scale construction and reconstruction work carried out in the republic.
The growing import of machinery and equipment is a reflection of industrialization policies, as well as an active reform to support foreign direct investment in the creation, modernization and increase of production capacities.
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