Uzbekistan's foreign trade turnover for January-February 2024 has surged to $9.2bn, marking a substantial year-on-year increase of 10.5%, with gold exports contributing $1.3bn, the Statistics Committee reports.
Export Volume Soars, Imports Rise
Gold exports stood out, reaching $1.3bn last month, growing by 11.5% compared to $1.18bn in January-February 2023. Excluding gold, manufactured goods retained their position as the top commodity export, amounting to $610.7mn, despite a marginal decrease of 0.4%. The share of gold in the total exports of Uzbekistan in January-February 2024 amounted to 36.3%. Notably, the country did not sell gold in January.
During the period, exports saw an increase of 13.6%, reaching $3.6bn, while imports climbed to $6.3bn, representing an 8.7% rise compared to the previous year. Consequently, the country's foreign trade deficit slightly expanded to $2.7bn.
Sectoral Highlights
- Textile and Fabric Exports: Revenue from textile and fabric exports grew by 5.6% to $360.2mn.
- Chemical Product Exports: A notable surge of 54.6% was recorded, totaling $240.9mn.
- Food Exports: Amounted to $236.9mn, with fruit and vegetable exports leading at $154mn, up by 25.9%.
- Consumer Goods Exports: Declined by 5.5% to $185.5mn, with apparel exports at $152.4mn.
- Mechanical Engineering Exports: Experienced a 9.8% decrease to $128.2mn.
Import Structure and Trends
- Engineering Products: Led imports with $2.44bn (+2.4%), driven by tripled automobile imports.
- Manufactured Goods: Saw a significant increase of 32.2%, reaching $1.1bn.
- Chemical Product Imports: Decreased by 7.3% to $739.6mn.
- Food Imports: Fell by 6.9% to $534.7mn, with notable changes in grain and vegetable imports.
- Fuel Imports: Surged by 62.7% to $547.9mn, with significant contributions from natural gas and coal imports.
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