Uzbekistan's foreign trade turnover hits $6.4 billion

19 March 2019 13:16 (UTC+04:00)

By Abdul Kerimkhanov

From an economic point of view, Uzbekistan is an industrially oriented country, which is engaged in various fields of activity. Important areas of Uzbek economy are agriculture, transportation, trade, construction and services.

In January-February 2019, Uzbekistan had trade relations with more than 140 countries of the world.

The foreign trade turnover of the republic in January-February 2019 amounted to $6.39 billion and grew by 25.4 percent on an annualized basis, according to the State Statistics Committee.

Exports reached $ 3.03 billion (a growth rate of 20.4 percent), and imports reached $ 3.35 billion (a growth rate of 30.3 percent). Foreign trade surplus totaled $319.2 million.

In January-February 2019, exports of goods and services were $ 513.7 million more than in the corresponding period of the previous year, while imports of goods and services increased by $ 779.6 million compared to the corresponding period of the previous year.

In the mentioned period of time, enterprises engaged in the export of goods increased by 281 units compared with the corresponding period of the previous year and reached 2,096 units.

Data on the dynamics of foreign trade turnover show that the figures have increased compared with previous years. In addition, the volume of exports in January-February 2019 increased by $ 3.03 billion compared with previous years.

The share of goods in the composition of exports reached 86.6 percent, of which energy and oil products - 16.0 percent, textiles and textile products - 7.5 percent, food products - 4.2 percent, ferrous metals and products from them - 1.4 percent, non-ferrous metals and products from them - 4.6 percent.

In January-February 2019, the share of the CIS in foreign trade turnover totaled 31.4 percent, and foreign trade turnover amounted to 113.4 percent compared to the same period last year.

The main partners in the export of goods and services in foreign trade were China (17.7 percent of total exports), Russia (11.4 percent), Kazakhstan (5.3 percent), Turkey (5.0 percent), Afghanistan (2,2 percent), Kyrgyzstan (1.7 percent) and France (1.2 percent).

In January-February 2019, the volume of imports in Uzbekistan amounted to $ 3.35 billion (growth rate - 30.3 percent).

The main share in its structure is occupied by machinery and equipment, including parts and accessories (42.0 percent), chemical products and products from it (12.9 percent), as well as ferrous metals and products from them (7.9 percent).

In January-February 2019, as many as 124 countries imported goods and services into Uzbekistan.

Five major partner countries (China, Russia, Kazakhstan, South Korea and Turkey) have a total share of imports of 65.7 percent, which is $ 2.2 billion.

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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94 

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