Uzbekistan's foreign trade turnover with CIS countries during 4M24 period amounted to a total of $6.9 bn, as it was reported in released data for January-April 2024 shedding light on the country's foreign trade turnover.
Of this, exports accounted for $2.4 bn, while imports stood at $4.5 bn. This trade relationship underscores the importance of Uzbekistan's engagement with its regional neighbors and the mutual benefits derived from cross-border commerce.
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The positive impact of trading within the free trade zone of the CIS is evident in Uzbekistan's overall foreign trade turnover. The highest volumes of trade were recorded with Russia, comprising 56.0% of the total. Following Russia, Kazakhstan holds the second-largest share at 17.8%, indicating the importance of bilateral trade relations between Uzbekistan and Kazakhstan.
Moreover, Turkmenistan, with a share of 4.2%, represents another significant trading partner for Uzbekistan within the CIS region. Despite its relatively smaller share compared to Russia and Kazakhstan, Turkmenistan's presence highlights the diversity of Uzbekistan's trade relationships within the Commonwealth.
The Kyrgyz Republic, Tajikistan, Belarus, Ukraine, Azerbaijan, Moldova, and Armenia collectively contribute to the remaining percentage of Uzbekistan's foreign trade turnover with CIS countries. While their individual shares may be smaller, they collectively contribute to the overall economic engagement within the region.
In conclusion, the data underscores the significance of Uzbekistan's trade relations within the CIS region, with Russia, Kazakhstan, and Turkmenistan emerging as key partners. The diversity of trading partners within the CIS highlights Uzbekistan's efforts to maintain and expand its economic ties with neighboring countries, contributing to regional economic integration and cooperation.
Furthermore, the data reveals Uzbekistan's foreign trade circulation with the member states of the EEC, comprising Russia, Kazakhstan, the Kyrgyz Republic, Belarus, and Armenia. During the same period, Uzbekistan's trade turnover with EEC member states amounted to $5.5 bn, with exports totaling $1.7 bn and imports reaching $3.9 bn.
Of particular note is the robust performance of Uzbekistan's fruit and vegetable export sector. Driven by government initiatives aimed at promoting agricultural development, the export volume of fruits and vegetables witnessed a notable increase. In January-April 2024, Uzbekistan exported 514,800 tons of fruits and vegetables, marking a 43.3% increase compared to the same period in 2023.
Russia, Pakistan, Kazakhstan, and China emerged as the primary export markets for Uzbekistan's fruit and vegetable products, underscoring the country's diversified export destinations. The export value of fruits and vegetables reached $298.5 mn during the period, representing a 16.5% increase compared to 2023 and accounting for 3.5% of total exports.
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