Introduction

In 2024, Uzbekistan’s foreign trade turnover (FTT) amounted to $65.9 billion, an increase of 3.8% (+$2.4 billion) compared to 2023. This growth resulted from economic reforms aimed at boosting exports, optimizing imports, and balancing foreign trade.

Key Foreign Trade Indicators of Uzbekistan:

• Total Uzbekistan’s foreign trade turnover: $65.9 billion (+3.8%).
• Exports: $26.9 billion (+8.4%).
• Imports: $39.0 billion (+0.8%).
• Trade Balance Deficit: -$12.0 billion (improved from -$13.8 billion in 2023).

Exports: Structure and Key Items

The total export volume in 2024 reached $26.9 billion, up by 8.4% compared to the previous year. The export structure is as follows:

1. Industrial Goods:
   • Total volume: $4.2 billion (15.6% of total exports).
   • Key categories:
     • Textile products: $2.9 billion (10.6%), a decrease of 6.7%.
     • Non-ferrous metals: $1.5 billion (5.6%).
     • Wood and cork products: $25.4 million (+85.7%).

2. Food Products and Live Animals:
   • Total volume: $2.2 billion (8.1%).
   • Key items:
     • Fruits and vegetables: $1.5 billion (+31.2%).
     • Major markets: Russia (42.1%), Kazakhstan (12.7%), Pakistan (12.6%).

3. Chemical Substances:
   • Total volume: $1.7 billion (6.3%).
   • Fertilizers and inorganic chemicals: $1.27 billion.
4. Mineral Fuels:
   • Total volume: $1.3 billion (4.9%).
   • Natural gas and petroleum products: $1.2 billion (+39.8%).
5. Gold:
   • Non-monetary gold: $7.5 billion (27.8%), a decrease of 8.3%.
6. Services:
   • Total volume: $7.2 billion (26.7%).
   • Key categories: tourism (48.8%), transport services (35.7%), telecommunications (8.6%).

Geographical Export Structure:

• Tashkent: $5.5 billion (20.5%).
• Navoi Region: $1.1 billion (4.1%).
• Fergana Region: $826 million (3.1%).
• Andijan Region: $1.2 billion (4.4%).

Imports: Structure and Key Items

The total import volume in 2024 was $39.0 billion, up by 0.8% compared to 2023. The main import categories are:

1. Machinery and Transport Equipment:
   • Total volume: $13.5 billion (34.6%).
   • Key items:
     • Automobiles and parts: $3.3 billion (-9.7%).
     • Electrical equipment: $2.0 billion (+5.1%).

2. Industrial Goods:
   • Total volume: $6.1 billion (15.5%).
   • Key items:
     • Iron and steel: $2.7 billion (+4.4%).
     • Metal products: $815 million (-13.3%).

3. Chemical Substances:
   • Total volume: $4.7 billion (12.0%).
   • Key items:
     • Medical products: $1.7 billion (+8.1%).
     • Plastics: $1.0 billion (-10.9%).

4. Food Products:
   • Total volume: $3.7 billion (9.5%).
   • Key items:
     • Grains: $919 million (-18.4%).
     • Sugar: $621 million (+11.3%).

5. Services:
   • Total volume: $3.7 billion (9.6%).
   • Key categories: tourism (50.9%), transport services (19.2%), telecommunications (9.2%).

Geographical Import Structure:

• Tashkent: $19.8 billion (50.8%).
• Tashkent Region: $4.0 billion (10.2%).
• Samarkand Region: $2.2 billion (5.5%).

Key Trading Partners

Exports:

• Russia: $3.7 billion (13.7%).
• China: $2.1 billion (7.6%).
• Kazakhstan: $1.5 billion (5.4%).
• Turkey: $1.2 billion (4.3%).
• Afghanistan: $1.1 billion (4.0%).

Imports:

• China: $10.4 billion (26.8%).
• Russia: $7.9 billion (20.4%).
• Kazakhstan: $2.8 billion (7.2%).
• South Korea: $2.0 billion (5.0%).
• Turkey: $1.8 billion (4.5%).

Conclusions and Prospects

1. Uzbekistan demonstrates stable growth in foreign trade turnover due to export diversification and support for exporters.
2. Increased exports of fruits and vegetables (+31.2%) and chemical substances (+29.1%) highlight the high potential of these sectors.
3. A decline in machinery and equipment imports (-9.7%) may indicate strengthened domestic production and reduced reliance on external supplies.
4. Key challenges include further reducing the trade balance deficit and diversifying trade partners.

Stable growth in export potential and the adoption of modern technologies will ensure Uzbekistan’s competitive position in global markets.

Source: Statistics Agency under the President of the Republic of Uzbekistan