Trade turnover between Tajikistan and Russia exceeded $1.1bn from January to July 2024, a 12.1% increase from the same period in 2023. Of this total, imports from Russia amounted to $1.54bn, while exports from Tajikistan were $63.78mn. In 2023, the $1bn milestone was achieved over an eight-month period, from January to August.
Russia continues to be Tajikistan's largest trading partner, accounting for 26.7% of the country's imports during this period. China follows as the second-largest trading partner, with trade turnover reaching approximately $1bn, a 25.9% increase from January to July 2023. Among Commonwealth of Independent States (CIS) members, Kazakhstan is the second-largest partner after Russia, with a trade turnover of about $777mn, up nearly 20% year-over-year.
Switzerland has emerged as Tajikistan's primary export partner, receiving 26.6% of all Tajikistani exports. The trade turnover between Tajikistan and Switzerland for the first seven months of 2024 amounted to over $641mn, a staggering 110-fold increase compared to the same period in 2023.
Tajikistan's total trade turnover with the global market for the first seven months of 2024 exceeded $5bn, reflecting a 27.2% growth. However, the trade balance remains negative, with exports totaling about $1.1 billion and imports surpassing $3.95bn.
The previous year saw a record trade turnover of approximately $1.8bn between Tajikistan and Russia. For the first half of 2024, this figure stood at $968.5mn.
On the other hand Uzbekistan's foreign trade with Russia reached $6.8bn in 7M24, marking a 28.3% increase from the $5.3bn recorded in the same period of 2023. This growth highlights the strengthening economic relationship between the two countries, with Russia becoming Uzbekistan's second-largest trading partner, representing 18.5% of its total foreign trade.
Uzbekistan's exports to Russia surged by 128.4% in 2024, up from 105.3% growth in 2023, making Russia the top destination for Uzbek exports, which account for 14.2% of the country's total exports. Russia leads as the primary market for Uzbek fruit and vegetable products, with 468,300 tonnes valued at $343.9mn.
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