Uzbekistan flag Uzbekistan: Economic and Political Overview

Foreign trade figures of Uzbekistan

Foreign Trade in Figures

According tot the latest available data by the World Bank, Uzbekistan's foreign trade represented 62% of GDP in 2020. As a producer of oil, natural gas, and gold and as the second largest exporter of cotton, natural resources dominate the country’s exports. Uzbekistan’s other exports include machines and equipment, and food. The country exports pearls, gold, precious stones, metals and coins (45%), cotton (9%), mineral fuels, oils, distillation products (5.9%) and copper (5.5%). Imports include machinery, nuclear reactors, boilers (24%), vehicles other than railway, tramway (9.2%), iron and steel (6.2%) and pharmaceutical products with 5.8% (Trading Economics, 2022). Uzbekistan total Exports expanded 25.2% Year on Year in Mar 2021, compared with a decrease of 38.9 % Year on Year in the previous month.

In 2021, main export destinations included Russia (24% of all exports), China (16%), Turkey, Kyrgyzstan and Kazakhstan. Imports arrived from China (22%), Russia (20%), Kazakhstan, South Korea, and Turkey. As of 2021, Uzbekistan has trade relations with over 140 countries and has signed trade agreements with 45 countries. In 2020, the country became an observer in the Eurasian Economic Union, and although Uzbekistan is not a member of the WTO yet, the nation is working on accession. Additionally, the UAE and Uzbekistan have agreed to expand their partnership and  increase trade volume and investments in textiles, renewable energy, infrastructure, and agriculture. A large trade and logistics centre will also be constructed in the border areas of Kazakhstan and Uzbekistan.

According to WTO data for 2020, Uzbekistan exported goods for total value of 13.1 billion USD, while it imported goods for a total value of 19.9 billion USD. As for commercial services, Uzbekistan exported 1.7 billion USD and imported 3.4 billion USD worth services. As a result, the country had a negative trade balance of 8 billion USD in 2020. When accounting for both goods and services, imports decreased by 12.9%, while exports decreased by 18.7% (WTO, 2021).

 
Foreign Trade Values 20172018201920202021
Imports of Goods (million USD) 12,03717,31221,86619,93223,740
Exports of Goods (million USD) 10,39010,92114,02413,09714,081
Imports of Services (million USD) 9785,1675,3343,4834,723
Exports of Services (million USD) 3,5062,7313,0751,6932,257

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20162017201820192020
Foreign Trade (in % of GDP) 29.745.766.672.363.0
Trade Balance (million USD) -2,392-2,216-6,867-7,291-6,225
Trade Balance (Including Service) (million USD) -3,931-4,058-9,308-9,557-8,037
Imports of Goods and Services (Annual % Change) -2.215.538.525.0-12.9
Exports of Goods and Services (Annual % Change) 11.11.39.320.7-18.7
Imports of Goods and Services (in % of GDP) 14.923.938.642.036.7
Exports of Goods and Services (in % of GDP) 14.921.828.030.326.3

Source: World Bank ; Latest available data

Foreign Trade Forecasts 2022 (e)2023 (e)2024 (e)2025 (e)2026 (e)
Volume of exports of goods and services (Annual % change) 19.719.013.313.714.2
Volume of imports of goods and services (Annual % change) 15.515.017.014.913.5

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Uzbekistan is a part of two big regional organizations - The Economic Eurasiatic Community and the Organization of Economic Cooperation.
 

Main Partner Countries

Main Customers
(% of Exports)
2021
China 12.4%
Russia 12.1%
Türkiye 11.6%
Kazakhstan 7.3%
Kyrgyzstan 5.5%
See More Countries 51.1%
Main Suppliers
(% of Imports)
2021
Russia 22.4%
China 20.4%
Kazakhstan 11.4%
South Korea 7.3%
Türkiye 7.0%
See More Countries 31.6%

Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 
 
 

To go further, check out our service Import Export Flows.

 

Main Services

2.7 bn USD of services exported in 2018
46.64%
42.68%
5.74%
2.27%
1.08%
1.06%
0.25%
0.24%
0.03%
0.01%
5.2 bn USD of services imported in 2018
46.85%
43.56%
3.28%
2.67%
1.30%
0.97%
0.70%
0.35%
0.26%
0.04%

Source: United Nations Statistics Division, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

Return to top

Any Comment About This Content? Report It to Us.

 

© Export Entreprises SA, All Rights Reserved.
Latest Update: November 2022