Uzbekistan’s foreign trade turnover makes up US$14.8 B in Q1

Tashkent, The Gulf Observer: During January-March 2023, foreign trade turnover in Uzbekistan made up US$ 14.8 billion and increased by US$1.6 billion, or by 11.9%, the Statistics Agency said in a statement.

Of the total volume of the foreign trade turnover, exports amounted to US$5.68 billion (against January-March 2023, there was a decrease of 2.6%), and imports – US$9.09 billion (an increase of 23.4%). As a result, the balance of foreign trade turnover was negative in the amount of – US$3.4 billion.

To date, the Republic of Uzbekistan has trade relations with 167 countries of the world. The largest volume of foreign trade turnover was recorded with China (15.9%), Russia (15.1%), Kazakhstan (7.5%), Turkey (5.6%), Germany (4.6%), the Republic of Korea (4.1%) and Turkmenistan (1.8%).

A lot of work is being done to strengthen relations with neighboring countries, to develop ties between them in the economic, social, trade, industrial and cultural spheres.

In particular, in recent years, major changes have taken place in foreign trade relations with neighboring countries such as Tajikistan, Turkmenistan, Kyrgyzstan and Kazakhstan. For example, in 2021-2023, these relations with Tajikistan and Kazakhstan increased by 1.2 times.

Among the 20 largest partner countries in foreign economic activity, three of them have a positive foreign trade balance. These are, in particular, Afghanistan, Kyrgyzstan and Tajikistan. With the remaining 17 countries, a negative foreign trade balance remains.

In the structure of foreign trade turnover of the republic, a significant share was noted in the city of Tashkent, which is 39.4%, or US$5.83 billion, and the smallest share was fixed at 0.5%, or US$75.4 million, which in Surkhandarya region.

The share of foreign trade turnover of the CIS countries in the period under review, compared to the same period in 2022, increased by 1.9% and their share in foreign trade turnover, according to the results of January-March 2023, amounted to 32.3%.

The volume of foreign trade turnover of other states in January-March 2023, compared to the same period in 2022, respectively, decreased by 1.9% and amounted to 67.7% of the total foreign trade turnover.

The foreign trade turnover of Uzbekistan with the CIS countries reached US$4.77 billion, of which the volume of exports amounted to US$1.69 billion, and the volume of imports – US$3.07 billion.

The largest volume of foreign trade turnover with the CIS countries was recorded with Russia (46.9%), Kazakhstan (23.2%) and Turkmenistan (5.5%).

The foreign trade turnover of the Republic of Uzbekistan with the EAEU countries in the period under review amounted to US$3.76 billion, of which the volume of exports was US$1.11 billion, the volume of imports was US$2.64 billion.

It should be noted that between the member states of the EAEU (Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan) a common economic territory with a single customs system has been formed, which ensures the freedom of movement of goods and services, the movement of migrants and the movement of capital.

Based on the reforms carried out aimed at increasing the country’s export potential, government support for exporters and expanding the range of export products, the number of exporters reached 4 049, and the volume of exports of goods and services amounted to US$3.27 billion (excluding non-monetary gold) and, compared to the same period in 2022, increased by 14.1%.

In the structure of exports, goods occupy 83.5%, of which industrial goods – 17.2%, food products and live animals – 6.1%, various finished products – 5.0%.

The share of exports of the CIS countries in January-March 2023, compared to the same period in 2022, increased by 8.1%.

Our main partners in the export of goods and services in foreign trade turnover in January-March 2023 were such countries as Russia, Turkey, China, Kazakhstan, Kyrgyzstan, Afghanistan and Tajikistan. Their share in total exports reached 36.9%.

In the structure of exports of the republic, a significant share was noted in the city of Tashkent, which is 18.7%, or US$1.06 billion, and the smallest share was recorded at 0.8%, or US$43.8 million in Surkhandarya region.

In January-March 2023, 217.6 thousand tons of fruits and vegetables were exported, and, compared to the same period in 2022, this figure decreased by 1.2 times, or by 41.4 thousand tons.

The main export markets for fruits and vegetables were Russia (24.8%), Pakistan (22.2%), China (16.7%) and Kazakhstan (14.1%).

The volume of exports of fruits and vegetables in the period under review reached US$182.0 million (the growth rate, compared to the same period in 2022, amounted to 7.5%, respectively). In the total volume, exports amounted to 3.2%.

According to the results of January-March 2023, the largest volume of exports of fruits and vegetables in value terms falls on Russia (24.8% of the total volume of fruits and vegetables), which exceeds the volume of exports to China by 1.5 times.

According to the results of January-March 2023, the export of textile products was carried out in the amount of US$769.0 million, which accounted for 13.5% of its total volume and, compared to January-March 2022, it increased by 0.4%.

In the structure of exports of textile products, the main share is occupied by yarn (43.6%), as well as finished textile products (39.5%). Thus, in January-March 2023, 486 types of textile products were exported to 46 countries of the world.

Based on the ongoing practical work to diversify the textile industry of the republic and encourage the export of finished products, the potential of our country in this area is increasing, as well as its share in the textile market in partner countries.

Thus, the largest share of exports of textile products falls on Russia (34.9% – US$268.4 million) and Turkey (16.8% – US$129.0 million).

As a result of the widespread use of new production technologies and modern equipment in the country, as well as the introduction of a quality management system, labor productivity is increasing, which, in turn, allows finished products to find their place in world markets.

The volume of exports of services in January-March 2023 amounted to US$940.7 million, or 16.5% of the total volume of trade exports and increased by 48.8% compared to the same period in 2022. As part of the export of services, the lion’s share is occupied by travel (tourism) (46.5%), transport services (40.7%), telecommunications, computer and information services (5.5%), other business services (3.6%). At the same time, for other services (3.8%), the largest share, respectively, falls on financial services (1.4%), insurance and pension services (1.4%), maintenance and repair services (0.3%) and etc.

During the reporting period, imports amounted to 9 090.8 million US dollars (an increase in growth rates, compared to January-March 2022, amounted to 123.4%). The main share in its structure is occupied by machinery and transport equipment (40.0%), industrial goods (14.9%), as well as chemicals and similar products (13.1%).

The analysis of the dynamics of imports of goods also showed that in January-March 2023, compared to the same period in 2022, the volume of imports of goods increased by US$1.71 billion and amounted to US$8.59 billion, and imports of services reached US$495.4 million.

The share of imports from the CIS countries, compared to the same period in 2022, decreased by 3.5% and, according to the results of January-March 2023, it amounted to 33.8%.

In general, according to the results of January-March 2023, goods and services were imported to Uzbekistan from 155 countries. More than 2/3 of imports come from such large partner countries as China, Russia, Kazakhstan, Germany, the Republic of Korea, Turkey and Turkmenistan.

In the structure of imports of the republic, a significant share was noted in the city of Tashkent, which is 52.4 %, or US$4.76 billion, and the smallest share was recorded in Surkhandarya – 0.3 %, or US$31.6 million.

The volume of imports of services in January-March 2023 reached US$495.4 million, or 5.4% of its total volume and increased by 2.7% compared to the same period in 2022. As part of the import of services, the main share is taken by trips (tourism – 50.7%), transport services (20.6%), telecommunications, computer and information services (7.8%), fees for the use of intellectual property (6.8%).

In addition, other services accounted for 14.1% of their total imports, including a high share of other business services (5.2%), financial services (3.5%), maintenance and repair services (3.5 %) and etc.

As the investment climate in the republic improves and on the basis of the reforms carried out in this area, it is natural to increase the import of machinery and equipment.

Thus, according to the results of January-March 2023, in the structure of imports, the volume of machinery and transport equipment reached US$3.63 billion and increased by 41.9% compared to the same period in 2022; in general, the share in the total volume of imports amounted to 40.0%.

Based on this, the import of machinery and transport equipment increased by US$1.07 billion. Most of the supplies of these goods to the country account for China — US$1.23 billion (33.8 %), Germany — US$536.9 million (14.8 %) and the Republic of Korea — US$415.0 million (11.4 %).

According to the results of January-March 2023, in the structure of imports, the volume of industrial goods reached 1 357.2 million US dollars and increased by 0.1% compared to the same period in 2022; in general, the share in total imports amounted to 14.9 %.

Mainly imports of industrial goods account for cast iron and steel (US$553.4 million), metal products (US$198.0 million), textile yarn, fabrics, finished products (US$141.0 million), rubber products (US$121.8 million), etc.