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    Uzbekistan

    Uzbekistan's export surges by nearly a quarter in six months

    Uzbekistan's export surges by nearly a quarter in six months

    Exports from Uzbekistan increased by almost a quarter in six months
    Source: Rupec

    In the first half of the year, Uzbekistan's external trade volume reached $29.17 bn, marking a 19.4% increase compared to the same period last year, the Statistics Agency has reported. 

    During this time, exports amounted to $12.14 bn, exhibiting a growth of 23% compared to the previous year. On the other hand, imports increased at a slightly slower rate of 17%, yet still significantly surpassing exports, reaching $17.03 bn.

    The revenue from gold exports in June remained unchanged at $4.37 bn, nearly one and a half times higher than the level in the first half of 2022.

    China remains the Republic's primary trading partner, accounting for $5.27 bn or 18% of the total foreign turnover. Notably, Chinese imports stood at $4.23 bn. Russia maintains the second position with $4.41 bn, remaining the largest export market for Uzbekistan ($1.28 bn). Kazakhstan follows with $2.19 bn, followed by Turkey ($1.49 bn) and South Korea ($1.03 bn).

    Export to France sharply increased, reaching $195 mn, nearly three times more than the previous year. Currently, it is the fourth country alongside Kyrgyzstan, Tajikistan, and Afghanistan with which Uzbekistan has a positive trade balance.

    The primary category of Uzbekistan's commodity exports, excluding gold, remains industrial goods. Despite an 8.9% reduction in their deliveries, they brought in $2.13 bn, accounting for more than 17% of the total export revenue.

    Of this amount, half was contributed by textiles and fabrics ($1.08 bn, -14%). Notably, exports of non-ferrous metals decreased to $715 mn (-11.6%). However, shipments of cast iron and steel nearly doubled ($122.1 mn).

    Food exports rose by a third to $871.6 mn, with a significant portion comprising fruits, vegetables ($577.5 mn, +29.5%), and grains ($241.7 mn, +63.4%), while supplies of coffee, tea, cocoa, and spices also significantly increased ($14.2 mn).

    In the consumer goods sector, revenue reached $624.9 mn, a quarter more than the previous year. For instance, ready-made clothing exports reached $532.7 mn, and the shipments of scientific and control instruments saw the most substantial rise ($8.2 mn), followed by photo and optical equipment ($1.2 mn).

    Exports of engineering products approached $600 mn (+58.8%). Exports of vehicles and automotive components increased by one and a half times ($228.7 mn), while electrical equipment shipments rose by 44% ($112 mn). Shipments of communication and sound recording devices reached $59.3 mn.

    Chemical product exports slightly decreased to $574.4 mn. The main cause was the decline in plastic ($114.4 mn) and fertilizer ($124 mn) supplies, while revenue from inorganic chemicals increased by 31% to $243 mn.

    Exports of raw materials remained below the previous year's levels. Revenue from gas decreased by over a third ($278.4 mn), while raw materials for fertilizers fell threefold ($13.2 mn). Conversely, deliveries of oil and petroleum products increased by 86% to $115.7 mn.

    In terms of imports, machinery and equipment continue to dominate the import structure, amounting to $6.43 bn (+29.8%). Nearly $620 mn was spent on vehicle imports (+56.7%), and an additional $667.9 mn on parts. Furthermore, $2.1 bn was allocated for industrial machinery, machines, and components.

    Industrial goods claimed the second position with $2.78 bn. Imports of cast iron and steel dropped by 9.4% to $1.1 bn, while textile imports rose by a quarter ($315.5 mn), and rubber goods increased by 45% ($240.5 mn).

    Chemical products stood third with $2.27 bn. Imports of fertilizers surged by 2.3 times (reaching $107.3 mn), while deliveries of medical and pharmaceutical products slightly decreased ($703.6 mn).

    Food imports reached $1.7 bn (+8.9%). Here, grains dominated at $611.6 mn (+20%), followed by sugar and confectionery at $265.6 mn (+25.9%), and vegetables and fruits at $176 mn (+15.6%).

    Notably, Uzbekistan increased imports of fuel and lubricants. Gas supplies surged by 2.6 times ($200 mn), and oil and petroleum product imports rose by two-thirds ($925.9 mn).

     

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    21.07.2023, 17:55   Comments (0)   1229
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