Over the past six years, Uzbekistan's chemical industry has transitioned from recovery to development, the press service of the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan reports.
Before 2016, the country produced 170 types of chemical products, and in the subsequent six years, production of 30 new products has been launched. In 2016, production amounted to UZS 2.3tn ($189 mn), while in 2022, this figure reached UZS 15.3tn ($1,2 bn).
The launch of major efficient projects has contributed to expanding export opportunities. In 2020, products worth $189mn were exported, and in 2022, the export volume amounted to $482mn.
Currently, the export of manufactured products is established through ports in China, Pakistan, Georgia, Lithuania, and other countries. As a result, the geography of exports encompasses over 40 countries, including those in Europe, Asia, Africa, and South America.
Comparison with Kazakhstan
The chemical industry is one of the leading manufacturing industries in Kazakhstan. In 2022, chemical production in Kazakhstan increased by 7.6% compared to 2021, reaching KZT 908bn ($1,9bn). This marks one of the highest figures in recent years.
The primary products in the chemical industry include petrochemicals (32.9%), fertilizers (12.4%), and organic chemicals (11.1%). Despite a decrease in investments in Kazakhstan's chemical industry in 2022 compared to the 2021, it remains a significant contributor to the country's industrial sector, with investments constituting 3.2% of the overall volume and 15% in the manufacturing industry.
For the current year, 14 projects with a total value of KZT 58.1bn ($121mn) are planned to be implemented, including plants for the production of emulsion explosives, solvents, and chemical reagents for the metallurgical industry.
Kazakhstan's industrial ventures don't restrict their efforts to domestic operations; they also play a significant role in international markets. A substantial portion of chemical products gets shipped to destinations such as Russia, China, and Uzbekistan.
In contrast to the previous year's investment of KZT 462.6 bn ($971mn), the year 2022 witnessed investments amounting to KZT 229.9 bn ($482mn), signifying a notable shift in financial commitments.
Follow Daryo's official Instagram and Twitter pages to keep current on world news.
Comments (0)