Tashkent, Uzbekistan (UzDaily.com) — In January-September 2024, Uzbekistan’s foreign trade turnover (FTT) amounted to US$48.2 billion, showing an increase of US$3.5 billion (7.7%) compared to the same period in 2023, according to the Statistics Agency.

Of the total FTT, exports accounted for US$19.77 billion (up by 11.5% year-on-year), while imports stood at US$28.43 billion (up by 5.2%). This resulted in a trade deficit of US$8.66 billion.

Kazakhstan remains one of Uzbekistan’s key trading partners (after China and Russia) due to their shared border, free trade within the CIS, and liberalized economic relations.

Uzbekistan currently trades with 190 countries, with the largest trade volumes recorded with China (18.7%), Russia (18.0%), Kazakhstan (6.2%), Turkey (4.5%), and South Korea (3.1%).

In terms of regional trade contributions, Tashkent city led with 38.8% of total FTT (US$18.69 billion), while the smallest share was recorded in Surkhandarya region at 0.6% (US$301.4 million).

Trade with CIS countries increased by 1.5%, representing 34.9% of the total FTT. Trade with non-CIS countries decreased by 1.5%, making up 65.1% of the total.

FTT with CIS countries amounted to US$16.84 billion, with US$6.6 billion in exports and US$10.24 billion in imports. Trade within the Eurasian Economic Union (EAEU) reached US$12.78 billion, including US$4.3 billion in exports and US$8.48 billion in imports.

The number of exporters reached 6,710, and the export of goods and services (excluding non-monetary gold) grew by 15.5%, totaling US$13.98 billion. Key export sectors include industrial goods, food products, and chemicals.

Uzbekistan’s exports to CIS countries decreased by 0.6%, while key export partners include Russia, China, Kazakhstan, Turkey, Afghanistan, France, and Kyrgyzstan, representing 39.8% of total exports.

Fruit and vegetable exports increased by 11.8%, reaching US$1.04 billion, with Russia as the largest market (44.7%). Textile exports amounted to US$2.21 billion (11.2% of total exports) but decreased by 6.1%.

Imports rose by 5.2% to US$28.43 billion, with machinery and transport equipment accounting for 35.5%, followed by industrial goods (15.1%) and chemicals (12.2%). Services imports, including tourism and transport, amounted to US$2.57 billion (up by 42.2%).

Tashkent accounted for 51.8% of imports, while Surkhandarya had the smallest share (0.4%).

The overall growth in foreign trade and strategic partnerships is expected to enhance Uzbekistan’s economic position in international markets.

The volume of services imports for the period of January-September 2024 amounted to US$2.57 billion, or 9.0% of total imports, representing an increase of 42.2% compared to the same period in 2023.

The largest share of services imports was attributed to travel (tourism – 52.8%), transport services (21.4%), telecommunications, computer, and information services (9.4%), and other business services (6.0%).

Additionally, other services accounted for 10.4% of the total imports, with significant shares for royalties and licensing fees (4.1%), maintenance and repair services not classified elsewhere (2.8%), insurance and pension services (1.4%), and others.

As of the end of January-September 2024, the import of industrial goods reached US$4.3 billion, marking a decrease of 4.3% compared to the same period in 2023, with its share in total imports at 15.1%.

The main categories of industrial goods imports included iron and steel (US$1.86 billion), metal products (US$590.1 million), textile yarn, fabrics, and finished products (US$417.6 million), rubber products (US$313.2 million), and others.