Trade between Kazakhstan and Uzbekistan has demonstrated growth within the 1Q2023, media reports.
In particular, the trade value between the two countries has reached a total of $1.1bn, signifying a 5.2% increase from the previous year.
The lion's share of trade, 76.7%, originates from Kazakhstan. The country's exports have climbed by 0.9%, reaching a value of $821.3mn. Meanwhile, Uzbekistan's imports have skyrocketed by 22.6%, totaling $248.9mn.
Uzbekistan's contribution to Kazakhstan's overall trade reached 3.3%.
Kazakhstan's exports to Uzbekistan accounted for 4.4%, while imports accounted for 1.8%. The primary products exported from Kazakhstan to Uzbekistan include wheat and meslin, valued at $237.6mn, marking a 5.3% increase from the previous year.
Significant exports include fertilizers, stainless steel rentals, wheat flour, fats, and oils. On the other hand, Kazakhstan's imports from Uzbekistan were primarily clothing, valued at $10.3mn, marking a 19.5% increase from the previous year. Other popular import categories include vehicle spare parts, refrigerators and freezers, alcohol, and flat-rolled products.
Regarding direct investments, Uzbekistan's gross inflow to Kazakhstan for January-December 2022 was $42.2mn, which experienced a significant decline of 62.2% from the previous year. In 2021, the gross inflow of foreign investments from Uzbekistan to Kazakhstan reached $111.5mn, with an annual growth of 2.2 times.
As of January 1, 2023, Kazakhstani residents' liabilities to investors from Uzbekistan amounted to $331.4mn, representing an increase of 8.7% from the previous year.
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