Uzbekistan Sees Robust Trade Growth, Defying Global Slowdown

photo: UzDaily.uz

Uzbekistan Sees Robust Trade Growth, Defying Global Slowdown

Uzbekistan’s foreign trade turnover (FTT) reached $51.4 billion in the January-August 2025 period, up 19.8 period or $8.49 billion compared to the same period last year.

Exports Show Strong Growth, But Trade Deficit Remains

Exports continued to outpace imports in terms of growth rate, totaling $22.98 billion-an increase of 31.3 per cent year-on-year, The Caspian Post reports via Uzbek media.

However, imports also rose to $28.45 billion, up 11.8 per cent, resulting in a trade deficit of $5.47 billion.

Trade with 200 Countries Led by China and Russia

Uzbekistan expanded its trade relationships with 200 countries, with the top trading partners accounting for a significant share of turnover:

China - 18.9 per cent

Russia - 16.1 per cent

Kazakhstan - 5.9 per cent

Türkiye - 3.7 per cent

Republic of Korea - 2.2 per cent

Export Composition: Manufactured Goods, Agriculture, and Services

Goods made up 75.2 per cent of Uzbekistan’s total exports. Key categories included:

Manufactured goods - 11.1 per cent

Food and live animals - 7.8 per cent

Chemicals - 5.9 per cent

Mineral fuels and lubricants - 4.4 per cent

Top export destinations were Russia (12.5 per cent), China (5.4 per cent), Kazakhstan (4.0 per cent), Afghanistan (3.8 per cent), Türkiye (3.2 per cent), France (2.7 per cent), UAE (2.1 per cent), and Kyrgyzstan (1.6 per cent).

Agricultural Exports See Notable Rise

Exports of fruits and vegetables reached 1.46 million tons, a 7.3 per cent year-on-year increase. The value of these exports surged by 37.3 per cent, totaling $1.27 billion and representing 5.5 per cent of overall exports.

Textile Exports Dip

In contrast, textile exports dropped 17.0 per cent from the previous year, amounting to $1.67 billion or 7.3 per cent of total exports. Finished textile products made up 50 per cent of this figure, while yarn accounted for 30 per cent.

Services Exports Climb Nearly 29 per cent

Service exports posted strong growth, totaling $5.71 billion, or 24.8 per cent of total exports, a 28.6 per cent increase year-on-year. Leading segments included:

Travel and tourism - 53.6 per cent

Transport services - 32.0 per cent

Telecommunications and IT - 7.9 per cent

Other business services - 2.6 per cent

Imports Driven by Machinery, Chemicals

On the import side, goods accounted for $25.53 billion, while service imports totaled $2.92 billion. The main imported goods categories were:

Machinery and transport equipment - 33.8 per cent

Manufactured goods - 16.1 per cent

Chemicals - 12.6 per cent

Imports originated from 170 countries, with the largest shares coming from:

China - 29.7 per cent

Russia - 19.1 per cent

Kazakhstan - 7.4 per cent

Türkiye - 4.1 per cent

Republic of Korea - 3.9 per cent

Germany - 2.7 per cent

India - 2.6 per cent

Service Imports Rise in Line with Global Trends

Service imports rose 28.6 per cent year-on-year, matching the pace of service exports. The sectoral breakdown included:

Travel - 56.8 per cent

Transport - 18.0 per cent

Telecom and IT services - 9.7 per cent

Other business services - 5.4 per cent

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Uzbekistan’s foreign trade turnover (FTT) reached $51.4 billion in the January-August 2025 period, up 19.8 period or $8.49 billion compared to the same period last year.