Uzbekistan’s foreign trade turnover down by $3.7 billion

According to the State Statistics Committee, exports at the FTT reached $12.4 billion (down by 6.0%) and imports fell to $15 billion (down by 16.5%). During the reporting period, a passive foreign trade balance of $2.5 billion was recorded.

Uzbekistan has trade relations with more than 160 countries. The country’s relatively active foreign trade balance accounts for China (16.8%), Russia (14.8%), Kazakhstan (7.3%), the Republic of Korea (5.8%), Turkey (5.2%), Kyrgyzstan (2.4%) and Germany (2.1%).

If we analyze the indicators of foreign trade turnover infographics on a monthly basis, we can see a sharp increase in June and July 2019. The same figures are radically different for 2020. Since March, there have been fluctuations due to changes in world market conditions.

The sharp increase in foreign trade turnover in July and August is explained by an increase in gold exports. The biggest decline in 2020 was recorded in May – $2.1 billion. The decrease in foreign trade turnover compared to the same month last year amounted to $1.1 billion.