Uzbekneftegaz, the state oil and gas company of Uzbekistan, recorded imports totalling $189.4 mn from January to March 2024. This figure surpassed the projected volume of $105.4 mn by over $84 mn, representing an increase of 179.8%.
During 1Q24, natural gas constituted the majority of Uzbekneftegaz's production output, with the company generating 6.9 bn cubic meters of natural gas.
While exports amounted to $158.5 mn, imports stood at $189.4 mn during the same period, indicating a trade deficit for Uzbekneftegaz.
Uzbekneftegaz reported a net profit of UZS 8.1 bn ($640,100) in 1Q24. Total revenues reached UZS 3.4 trillion ($268.6 mn), while expenditures amounted to UZS 3.4 trillion ($267.8 mn) during the same period.
Meanwhile, Uzbekistan's exports of goods and services (excluding non-monetary gold) reached $2.3 bn from January to February 2024, marking a y/y increase of over 14.9%. The country's main export partners in foreign trade turnover include Russia, China, Turkey, Kazakhstan, France, Afghanistan, and Tajikistan, collectively contributing 42.1% to the total export volume.
Uzbekistan's total foreign trade turnover surpassed almost $10 bn from January to February 2024, with imports reaching $6.28 bn, reflecting an increase of 8.7%.
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