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    Uzbekistan

    Uzbekistan’s foreign trade turnover rises 16.1% y/y in 1H25, reaching $37bn

    Uzbekistan’s foreign trade turnover rises 16.1% y/y in 1H25, reaching $37bn

    Uzbekistan’s foreign trade turnover (FTT) totaled $37.0bn in January–June 2025, marking a year-on-year increase of $5.12bn, or 16.1%, compared to the same period in 2024. The growth was largely driven by a surge in exports, while imports posted more moderate gains. 

    Exports reached $16.89bn, supported by strong service exports and increased sales of agricultural and industrial goods. Imports amounted to $20.13bn, up 7.0% year-on-year. As a result, the trade balance remained negative, with a deficit of $3.25bn, reflecting the country’s continued reliance on imported goods and services.

    Source: Daryo
    Source: Daryo

     

    Key Trade Partners

    Uzbekistan conducted trade with 194 countries during the first half of 2025. China, Russia, and Kazakhstan remained the country’s leading trade partners. Trade turnover with China reached $6.56bn, up from $5.89bn in the same period of 2024 and $5.30bn in 2023, accounting for 17.7% of the total. 

    Russia followed with $6.03bn, compared to $5.73bn in 2024 and $4.44bn in 2023, making up 16.3% of overall trade. Trade with Kazakhstan rose to $2.21bn, from $1.91bn last year and $2.20bn in 2023, representing 6.0% of the total. Other notable partners included Türkiye (3.6%) and South Korea (2.3%), indicating Uzbekistan’s growing trade relationships across Eurasia.

    On the export side, Russia was the top destination, accounting for 12.1% of total exports, followed by China (5.4%), Kazakhstan (4.0%), Afghanistan (3.6%), Türkiye (3.0%), France (2.9%), the United Arab Emirates (1.8%), Kyrgyzstan (1.6%), Tajikistan (1.4%), and Pakistan (1.0%). Combined, these ten countries made up 36.8% of total exports, underlining the regional concentration of Uzbekistan’s trade flows.

    Imports were heavily concentrated among a few major suppliers. China accounted for 28.1% of all imports, followed by Russia (19.8%), Kazakhstan (7.6%), South Korea (4.1%), Türkiye (4.1%), Germany (2.9%), and India (2.7%). Altogether, more than two-thirds of Uzbekistan’s imports originated from these seven countries, highlighting the country’s dependence on advanced industrial economies for machinery, technology, and raw materials.

    Source: Daryo
    Source: Daryo

     

    Sectoral Insights

    Sectoral data shows that services and agricultural exports were key contributors to overall trade growth, while the textile sector experienced a downturn. Service exports rose by 29.0% to $4.06bn, making up 24.0% of total exports. Travel and tourism accounted for 51.8% of this figure, followed by transport services (33.7%), telecommunications and IT services (8.0%), and other business services (3.0%).

    Agricultural exports also recorded notable growth. Uzbekistan exported 1.08mn tons of fruit and vegetable products in the first half of 2025, up 7.8% from the same period last year. In value terms, these exports rose by 40.5% to $847.3mn, accounting for 5.0% of total exports. This increase reflects strong global demand and improved export pricing.

    In contrast, textile exports declined by 17.0% year-on-year, totaling $1.27bn, or 7.5% of total exports. Finished textiles accounted for 47.8% of the sector’s exports, followed by yarn at 32.2%. The decline is attributed to falling global demand and pricing pressure in international markets.

    Imports were dominated by goods, which totaled $18.04bn, while services imports amounted to $2.07bn. The top import categories for goods were machinery and transport equipment (32.9%), industrial goods (16.0%), and chemicals (12.9%), indicating sustained demand for capital goods, construction materials, and pharmaceuticals. 

    Service imports rose by 30.0% compared to the previous year and accounted for 10.3% of total imports. The largest components included travel services (55.9%), transport (19.4%), telecommunications and IT (9.0%), and other business services (5.7%).

     

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    23 July, 11:30   Comments (0)   110
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