Uzbekistan's Foreign Trade Turnover Increases by 3.8% in 2024

Uzbekistan's foreign trade turnover rose by 3.8% in 2024, an increase of $2.4 billion compared to the previous year, reaching a total of $65.9 billion, according to the country's Statistics Agency.

Exports grew 8.4% to $26.9 billion while imports rose 0.8% to $39 billion, The Caspian Post reports citing Interfax.

As a result, the trade deficit amounted to $12.037 billion compared to $13.7 billion in the previous year, down 12%.

The country's leading foreign trade partners last year were China (18.9% of total trade turnover), Russia (17.6%), Kazakhstan (6.5%), Turkey (4.5%) and South Korea (3%).

According to the Statistics Agency, Uzbekistan's main export items included gold (27.8% of total exports), services (26.7%), industrial goods (15.6%) and food products (8.1%). The key import categories remained machinery and equipment (34.6%), industrial goods (15.5%), chemical products (12%), food products (9.5%) and services (9.6%).

At a meeting on January 16 on attracting investment and increasing export volumes chaired by the Uzbek president, plans were announced to increase the country's exports to $30 billion in 2025.