By Abdul Kerimkhanov
Today, international trade is a fundamental part of the economic activity of Uzbekistan. Continuing reforms in this area allow expanding markets for Uzbek goods and services.
In January-June 2019, Uzbekistan had trade relations with more than 166 countries of the world.
In particular, the foreign trade turnover of the country in January-June 2019 amounted to $19.7 billion and increased by $4.52 billion, or 29.8 percent, compared to the corresponding period of 2018, according to the State Committee of Uzbekistan on Statistics.
Of this amount, exports reached $8.4 billion (growth rate - 27 percent), and imports – $11.2 billion (growth rate - 32 percent). The foreign trade balance amounted to -$2.8 billion.
The establishment of trade relations with other countries contributes to the growth of exports of products manufactured in the country.
In January-June 2019, the number of enterprises engaged in the export of goods increased by 831 compared with the same period last year and their total number reached 3,885.
The main partners of Uzbekistan in the export of goods and services were China (19 percent of the total exports), Russia (13.6 percent), Kazakhstan (8.1 percent), Turkey (6.8 percent), Kyrgyzstan (4.5 percent), Afghanistan (3.1 percent) and Tajikistan (1.7 percent).
Seven countries – China, Russia, South Korea, Kazakhstan, Turkey, Germany and the U.S. – had a share of 69.1 percent in the total volume of Uzbekistan’s imports.
Thanks to the creation of favorable conditions, provision of a number of tax and customs benefits to manufacturers, as well as due to the modernization of industrial facilities, the quality and volume of exported Uzbek products increased, which allowed domestic products to take strong positions in foreign markets.
Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94
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