For the first half of 2024, Germany’s trade volume with Uzbekistan amounted to $506.3mn, representing a 1.6% share of Uzbekistan’s total foreign trade. This includes exports worth $37.8mn and imports valued at $468.6mn, as it was disclosed by the Statistics Agency.
Comparing the trade figures from 2023 and 2024, we observe a substantial decrease in trade volume between Germany and Uzbekistan. In the first half of 2023, the total trade volume was $928.8mn which represents 45.5% decrease from $506.3mn in 2024, with exports at $36.5 mn and imports at $892.3 mn.
Germany-Uzbekistan trade turnover from 2022-2024 by Khadicha Abdurashidova
The export figures reveal that Uzbekistan's exports to Germany increased from $36.5mn in 2023 to $37.8mn in 2024, reflecting a modest growth of 3.6%. This incremental rise in exports signifies Uzbekistan’s gradual strengthening in supplying goods to the German market.
The import dynamics are more telling of Germany’s influential role in Uzbekistan’s economy. Imports from Germany to Uzbekistan saw a more notable decline, from $892.3mn in 2023 to $468.6mn in 2024. This indicates a decrease in import volume by $423.7mn or 47.5%. The substantial decrease in imports reflects a strategic shift in Uzbekistan’s import policies or possibly a change in market demands.
In 2022, Germany exported $664mn to Uzbekistan, with the primary products being planes, helicopters, and spacecraft valued at $500mn. Conversely, Uzbekistan's exports to Germany were valued at $24.4mn, with gold and non-retail pure cotton yarn being the top products. Over five years, German exports to Uzbekistan grew at an annualized rate of 13.3%, while Uzbekistan's exports to Germany decreased by 33% annually.
April 2024's trade figures showed Germany exporting €88.3mn to Uzbekistan and importing €6.89mn, resulting in a positive trade balance of €81.4mn. This was an increase of 26.1% in exports compared to April 2023, while imports saw a decline of 26.3%.
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