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    Uzbekistan's textile exports surge by $3bn in 2023

    Uzbekistan's textile exports surge by $3bn in 2023

    Uzbekistan exported textile products worth $3bn during the period of January-December 2023, according to a recent report by the Statistics Agency. While the figure reflects a 3.8% decrease compared to the same period in the previous year.

    Photo:  Uzbekistan's textile exports surge by $3bn in 2023
    Source: Uzbek Retail

    Within the textile export structure, yarn and finished textile products emerged as the leading categories, each contributing $1.2bn, accounting for 41.1% and 41% of the total textile exports, respectively. 

    Diverse export reach 65 countries with 639 textile product varieties

    Uzbekistan exported 639 different textile product varieties to 65 countries around the world during the reported period, showcasing its ability to cater to diverse market demands and establish itself as a reliable textile exporter internationally.

    Uzbekistan has recently unveiled a series of initiatives aimed at fostering growth and supporting companies with international brand portfolios in the textile sector. President Shavkat Mirziyoyev led a video conference on December 18, 2023, wherein these initiatives were announced.

    Key priorities

    The initiatives outlined in the conference prioritize the development of synthetic fiber production, enhancing dyeing processes, and improving the finishing of ready-made garments. Uzbekistan aims to strengthen its textile sector's capabilities and competitiveness in the global market through these key areas of focus.

    Financial support

    To support the growth of the textile sector, the Reconstruction and Development Fund will allocate $200mn for new high-value-added projects. These projects will primarily focus on the production of synthetic fibre yarn, with a target of implementing 15 projects by August 1, 2024, resulting in a combined production capacity of 125,000 tons.

    The 15 projects will be implemented across various regions, including Kashkadarya, Bukhara, Khorezm, Karakalpakstan, Syrdarya, Samarkand, and Surkhandarya. 

     

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    25.01.2024, 16:19   Comments (0)   2068
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