Uzbekistan’s Foreign Trade Growth: $10.8 Billion Recorded in Early 2025
In January-February 2025, Uzbekistan’s foreign trade turnover reached $10.8 billion, up 9.9% from the previous year. Exports increased by 27.7% to $4.64 billion, while imports fell slightly to $6.2 billion, resulting in a trade deficit of $1.56 billion. China, Russia, and Kazakhstan were the top trade partners. The service sector saw significant growth, while textiles and agriculture encountered declines.
Uzbekistan’s foreign trade turnover reached $10.8 billion in January-February 2025, reflecting a 9.9% growth compared to the same period in 2024. This increase, amounting to $973.3 million, was largely driven by a robust rise in exports, while imports experienced a slight contraction. The export figures surged by 27.7%, totaling $4.64 billion, whereas imports totaled $6.2 billion, representing a decrease of 0.6% from the previous year. Consequently, Uzbekistan recorded a trade deficit of $1.56 billion, underscoring its continued dependency on imports despite the positive export trend.
In the initial months of 2025, Uzbekistan’s trade relations spanned 162 countries, with China, Russia, and Kazakhstan being its foremost trading partners. China maintained its position as Uzbekistan’s largest trade partner, achieving a trade volume of $2.08 billion in February 2025. Despite a minor decline from $2.12 billion in 2024, this figure greatly exceeds the $1.33 billion reported in 2023, constituting 19.2% of Uzbekistan’s total trade. Russia secured its status as the second-largest partner, with a trade volume of $1.6 billion, showing a decrease from $1.8 billion in 2024 but an improvement from $1.5 billion in 2023, accounting for 14.9% of total trade.
Kazakhstan ranked third, with trade volume reaching $659.9 million, reflecting an increase from $581 million in 2024, though lower than the $700.2 million in 2023, highlighting fluctuations in year-on-year performance. Kazakhstan comprised 6.1% of the total trade, while other significant trade partners included Türkiye (3.9%) and Afghanistan (2.5%), underscoring Uzbekistan’s expanding international trade connections.
In terms of exports, the primary destinations were Russia (11.8%), China (6.5%), Afghanistan (4.5%), and Kazakhstan (4.0%), among others, totalling 41.3% of Uzbekistan’s total exports. On the import side, the principal sources included China (28.7%), Russia (17.3%), Kazakhstan (7.6%), and South Korea (4.1%), with these major partners accounting for over two-thirds of Uzbekistan’s imports, indicating successful trade diversification efforts.
Sectorally, Uzbekistan’s exports exhibited remarkable growth in services and industrial goods, while the textile and agricultural sectors faced challenges. Service exports soared by 61.5% to $1.18 billion, representing 27.3% of total exports, driven mainly by transport services, tourism, and telecommunications. In contrast, agricultural exports of fruits and vegetables experienced a volume decline of 23.1%, yet their value rose to $175.1 million thanks to increasing global food prices.
The textile industry encountered a setback, witnessing a 22.4% drop in exports to $403.7 million. Finished textile products comprised 45% of total textile exports, while yarn accounted for 35%, indicating decreased demand in this market segment. On the import front, machinery and transport equipment was the leading import category, representing 36.8% of total imports, as Uzbekistan continued its investments in industrial and transport equipment.
Chemical imports constituted 12.2% of total imports, driven by consistent demand for pharmaceuticals and industrial chemicals. Moreover, service imports surged by 45.4% to $660.8 million, with notable increases in tourism-related services and transport services.
Uzbekistan’s foreign trade turnover saw a notable increase in the early months of 2025, attributed primarily to a significant rise in exports, particularly in services and industrial goods. Despite a slight decline in imports, the ongoing trade deficit highlights the country’s continued reliance on imported goods. Additionally, Uzbekistan’s expanding trade relationships with prominent partners such as China, Russia, and Kazakhstan demonstrate its growing role in international trade, while fluctuations in sectoral performance reflect both challenges and opportunities in the market. Overall, these trends signal a need for ongoing investment and strategic diversification in both exports and imports.
Original Source: daryo.uz
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