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    Economics

    Uzbek-German trade hits record $1.1bn, investments soar

    Uzbek-German trade hits record $1.1bn, investments soar

    During a meeting at the Ministry of Investments, Industry and Trade of the Republic of Uzbekistan, Deputy Minister Oybek Khamraev conducted an analysis of the current achievements and discussed future tasks of the working group responsible for attracting German companies to Uzbekistan's market and implementing new investment projects with the Federal Republic of Germany.

    Uzbek-German trade hits record $1.1bn, investments soar.
    Source: Press service of the Ministry of Investments, Industry and Trade of the Republic of Uzbekistan

    In the year 2022, the trade turnover between Uzbekistan and Germany reached a significant milestone, amounting to €1bn ($1.1) for the first time, marking a two-fold increase compared to the figures recorded in 2017.

    Uzbekistan's Exports to Germany.
    Source: Trading Economics

    During recent years export and import trends in Uzbekistan-Germany relations were positive, reaching over $55mn and $1,000mn respectively.

    Uzbekistan's Imports from Germany.
    Source: Trading Economics

    The two nations have been actively engaged in investment and industrial cooperation, leading to the establishment of 200 enterprises with German capital in Uzbekistan, indicating a remarkable three-fold growth. Furthermore, since 2017, German investments in Uzbekistan have soared to €4bn, demonstrating an impressive eleven-fold increase.

    The bar chart shows the positive trend of Uzbekistan's total FDI since the first election of Shavkat Mirziyoyev.
    Source: World Bank, Created by Daryo using Canva

    Uzbekistan's FDI has risen not only in terms of relations with Germany but also in total with other countries around the world.

     

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    07.08.2023, 00:35   Comments (0)   1420
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