Uzbekistan's foreign trade turnover worth $ 3.35 billion
By Abdul Kerimkhanov
The economy of Uzbekistan is one of the largest in the Central Asian region. In recent years, the Uzbek economy has been actively developing and showing high results of stable growth.
The foreign trade turnover of Uzbekistan amounted to $ 3.35 billion, according to the results of January 2019 and increased by 26.8 percent, compared with the same period in 2018.
According to the State Statistics Committee of Uzbekistan, exports reached $ 1.67 billion (growth rate - 16.6 percent), import volume - $ 1.67 billion (growth rate - 38.9 percent). The foreign trade balance totalled to $ 31,000.
According to the results of January 2019, the number of enterprises engaged in the export of goods, compared to the same period in 2018, increased by 81 units and their total number reached 1,037 units.
Analysis of the dynamics of foreign trade turnover also showed an increase and in January 2019 it hit $ 3.35 billion, which, compared to the same period in 2018, shows an increase of $ 707.8 million.
As a result of measures taken by Uzbek Government to strengthen cooperation with the CIS countries and comprehensive support for foreign trade, the share of CIS countries in foreign trade turnover was 29.2 percent in January 2019 and, compared to the same period last year, the growth rate of foreign trade turnover reached 115.3 percent.
The share of other countries in foreign trade turnover in January 2019 increased by 2.9 percent and, amounted to 70.8 percent, compared to the same period in 2018.
The volume of exports of Uzbekistan in January 2019 amounted to $ 1.67 billion (an increase, compared to the same period last year, reached 16.6 percent). The share of goods in the composition of exports reached 88.0 percent, of which energy resources and petroleum products - 14.8 percent, food products - 3.6 percent, ferrous and non-ferrous metals - 5.3 percent. Exports excluding gold increased by 46.1 percent, reaching $ 863.6 million.
Analysis of the dynamics of exports of goods and services showed that in January 2019, compared with January 2018, the volume of exports of goods increased by $ 228.9 million and amounted to $ 1.47 billion. The export of services reached $ 201.3 million.
China and Russia occupy the largest share in the export of goods and services of Uzbekistan. The share of these countries in total exports is 31.8 percent.
Exports of textile products amounted to $ 107.5 million in January 2019, and increased, compared to the same period of 2018, by 4.7 percent, which is 6.4 percent of total exports.
Of the export structure of textile products, the main share is cotton yarn (60.2 percent), as well as finished knitwear and garments (20.7 percent). Since the beginning of the year, more than 186 types of goods have been exported to 32 countries of the world.
In January 2019, imports in Uzbekistan amounted to $ 1.67 billion (a growth rate of 38.9 percent). The main share in its structure is occupied by machinery and equipment (42.3 percent), chemical products and products from it (13.3 percent), as well as ferrous and non-ferrous metals (6.6 percent).
The share of imported machinery and equipment in its total volume increased from 33.1 percent to 42.3 percent.
Analysis of the dynamics of imports of goods and services also showed that in January 2019, compared with January 2018, the volume of imports of goods increased by $ 447.5 million and totalled to $ 1.5 billion. Service imports reached $ 168.1 million.
Five major partner countries (China, Russia, Kazakhstan, South Korea and Turkey) have a share of 64 percent in total imports, which is $ 1.07 billion.
The volume of imports of services in January 2019 amounted to $ 168.1 million, or 10.0 percent of total imports, and increased by 15.0 percent, compared to the same period in 2018. The main imports of services are tourism, transport services, as well as financial and telecommunication, information and computer services.
In January 2019, the volume of imports of construction materials amounted to $ 96.0 million, and increased by 29.6 percent, compared to the same period in 2018.
The share of imports of building materials in the total amount is 5.7 percent. In the structure of imports of building materials, the main share is occupied by wood and wood products (54.0 percent), cement (8.2 percent), glass and wood products (6.1 percent), and asbestos (1.9 percent).
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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94
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