Statistics Agency published information on foreign trade turnover of Uzbekistan in January-September 2023.
It is noted that during the reporting period, the republic’s foreign trade turnover (FTT) reached $44.8 billion. The volume of export was $17.74 billion, and the volume of import was $27.01 billion. Compared to the corresponding period of last year, the volume of export increased by 23.5%, and the volume of import increased by 21.1%. The negative foreign trade balance reached $9.27 billion. In the corresponding period of last year, the foreign trade deficit was $7.9 billion.
Dependence on China has increased in foreign trade
Uzbekistan’s dependence on China in foreign trade relations is increasing. In particular, since the beginning of the year, China’s trade volume with Uzbekistan has reached $9.45 billion. This made up 21.1% of the total foreign trade turnover of the republic. For comparison, in the corresponding period of 2022, the volume of trade with China was $6.78 billion (18.8% of the total FTT), and in 2021 it was $5.4 billion (19.1% of the total FTT).
The top 10 countries with the highest share in the foreign trade turnover of Uzbekistan in January-September 2023:
• China – $9.45 billion;
• Russia – $7.03 billion;
• Kazakhstan – $3.23 billion;
• Turkey – $2.35 billion;
• Korea – $1.7 billion;
• Turkmenistan – $830 million;
• Germany – $784 million;
• Kyrgyzstan – $753 million;
• France – $658 million;
• Afghanistan – $615 million.
Out of the 20 major partner countries in terms of foreign economic activity, only three countries – Afghanistan, Kyrgyzstan and Tajikistan – have a positive foreign trade balance. A passive foreign trade balance with the remaining 17 countries has been maintained.
During the past period, the volume of exports to China decreased by 14.3%, and sales to Turkey decreased by 20%. In turn, the volume of exports to Russia increased by 5%, to Kazakhstan by 5.4%, and to Afghanistan by 17.6%.
Also, the volume of imports from China increased by 58.5%, from Russia by 6%, and from Turkey by 5.8%. Imports from Kazakhstan (4.5%) and Korea (6.8%) decreased.
Export of gold
Gold worth $5.6 billion was sold in January-September of this year. This is 31.8% of total exports.
In turn, gold exports increased by 89.8% compared to the corresponding period of 2022. However, there were no gold sales in September due to low prices.
For information, $4.1 billion worth of gold was sold in 2022, $4.1 billion in 2021, $5.8 billion in 2020, and $4.9 billion in 2019.
Export and import of fuel products
During the reporting period, Uzbekistan imported gas worth $488 million, which is 83.4% more than in the corresponding period of 2022. In turn, during this period, gas export decreased by 47.2% or $412 million.
Earlier, during the first 8 months of this year, it was reported that natural gas worth $370.5 million was exported from Uzbekistan to China. This is 40% less than the 2022 figure.
Also, $139 million worth of coal was imported for 9 months, which is 27.9% less than the same period last year.
In January-September, electricity worth $87.3 million was purchased (decrease – 2.3%) and electricity worth $49.4 million was exported (decrease – 27.8%).
Export of oil and oil products increased by 2 times to $218 million, and import increased by 35.6% to $1.18 billion.
