Uzbekistan records US$9bn trade turnover in Jan-Feb – State Agency
Uzbekistan records US$9bn trade turnover in Jan-Feb – State Agency
Tashkent, Uzbekistan (UzDaily.com) -- In January-February 2023, foreign trade turnover of Uzbekistan made up US$8.9 billion and increased by US$176.4 million, or by 2.0%, the State Agency of Uzbekistan said.
Of the total foreign trade turnover volume, exports amounted to US$3.16 billion (against January-February 2023, there was a decrease of 23.7%), and imports – US$5.78 billion (an increase of 25.1%). As a result, the balance of foreign trade turnover was negative in the amount of - US$2.61 billion.
To date, the Republic of Uzbekistan has trade relations with 155 countries of the world. The largest volume of foreign trade turnover was recorded with Russia (16.2%), China (14.9%), Kazakhstan (7.8%), Germany (6.4%), Turkey (6.1%), the Republic of Korea (3.4%) and Kyrgyzstan (1.9%).
A lot of work is being done to strengthen relations with neighboring countries, to develop ties between them in the economic, social, trade, industrial and cultural spheres.
In particular, in recent years, major changes have taken place in foreign trade relations with neighboring countries such as Tajikistan, Turkmenistan, Kyrgyzstan and Kazakhstan. For example, over the past three years, these relations with Tajikistan and Kazakhstan have increased by 1.2 times.
Among the 20 largest partner countries in foreign economic activity, three of them have a positive foreign trade balance. These are, in particular, Afghanistan, Kyrgyzstan and Tajikistan. With the remaining 17 countries, a negative foreign trade balance remains.
In the structure of the foreign trade turnover of the republic, a significant share was noted in the city of Tashkent, which is 42.3%, or US$3.78 billion, and the smallest share is fixed at 0.5%, or US$46.3 million, which recorded in Surkhandarya region.
The share of foreign trade turnover of the CIS countries in the period under review, compared to the same period in 2022, increased by 3.0% and their share in foreign trade turnover, according to the results of January-February 2023, amounted to 32.6%.
The volume of foreign trade turnover of other states in January-February 2023, compared to the same period in 2022, respectively, decreased by 3.0% and amounted to 67.4% of the total foreign trade turnover.
The foreign trade turnover of Uzbekistan with the CIS countries reached US$2.92 billion, of which the volume of exports amounted to 1 087.9 million US dollars, and the volume of imports – US$1.83 billion.
The largest volume of foreign trade turnover with the CIS countries was recorded with Russia (49.7%), Kazakhstan (23.9%) and Kyrgyzstan (5.7%).
The foreign trade turnover of the Republic of Uzbekistan with the EAEU countries in the period under review amounted to US$2.41 billion, of which the volume of exports was US$760.4 million, the volume of imports was US$1.65 billion.
It should be noted that between the member states of the EAEU (Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan) a common economic territory with a single customs system has been formed, which ensures the freedom of movement of goods and services, the movement of migrants and the movement of capital.
The development of international economic relations contributes to the stable growth of exports, and this, in turn, creates the basis for achieving certain results. Based on the reforms carried out aimed at increasing the country's export potential, government support for exporters and expanding the range of export products, the number of exporters reached 3 354 and the volume of exports of goods and services amounted to US$1.98 billion (in addition to non-monetary gold) and, compared to the same period in 2022, increased by 10.9%.
In the structure of exports, goods occupy 82.2%, of which industrial goods – 19.4%, food products and live animals – 7.0%, various finished products – 6.0%.
The share of exports of the CIS countries in the period under review, compared to the same period in 2022, increased by 14.3%.
Our main partners in the export of goods and services in foreign trade turnover in January-February 2023 were such countries as Russia, Turkey, China, Kazakhstan, Kyrgyzstan, Afghanistan and Tajikistan. Their share in total exports reached 41.9%.
In the structure of exports of the republic, a significant share was noted in the city of Tashkent, which is 19.9%, or US$630.4 million, and the smallest share was recorded at 0.9%, or US$29.5 million in Surkhandarya region.
Due to the fact that the state pays great attention to the development of agriculture and horticulture, the quality and volume of exported products are increasing from year to year. In particular, in January-February 2023, 135.6 thousand tons of fruits and vegetables were exported, and, compared to the same period in 2022, this figure decreased by 1.2 times, or by 28.5 thousand tons.
The main export markets for fruits and vegetables were Russia (27.3%), Pakistan (23.8%), Kazakhstan (14.9%) and China (12.6%).
The volume of exports of fruits and vegetables in the period under review amounted to US$116.4 million (the growth rate, compared to the same period in 2022, amounted to 2.2%, respectively). In the total volume, exports amounted to 3.7%.
According to the results of January-February 2023, the largest volume in terms of value of exports of fruits and vegetables falls on Russia (27.3 % of the total volume of fruits and vegetables), which exceeds the volume of exports to Kazakhstan by 1.8 times.
In recent years, the light industry has seen the development of high value-added products. Being an economically important industry for Uzbekistan, the light industry provides a high level of employment, and also contributes to the industrial potential and international prestige of our country.
The increase in textile exports can be seen as a result of reforms aimed at producing finished goods instead of raw cotton and creating added value.
According to the results of January-February 2023, the export of textile products was carried out in the amount of US$501.8 million =, which accounted for 15.9% of its total volume and, compared with January-February 2022, it decreased by 3.6%.
In the structure of exports of textile products, the main share is occupied by yarn (43.7%), as well as finished textile products (40.6%). So, in January 2023, 460 types of textile products were exported to 42 countries of the world.
Based on the ongoing practical work to diversify the textile industry of the republic and encourage the export of finished products, the potential of our country in this area is increasing, as well as its share in the textile market in partner countries.
Thus, the largest share of exports of textile products falls on Russia (43.8% - US$219.8 million) and Kyrgyzstan (15.1% - US$76.0 million).
As a result of the widespread use of new production technologies and modern equipment in the country, as well as the introduction of a quality management system, labor productivity is increasing, which, in turn, allows finished products to find their place in world markets.
The volume of exports of services in January-February 2023 amounted to US$561.9 million, or 17.8% of the total volume of trade exports and increased by 46.8% compared to the same period in 2022. As part of the export of services, the lion's share is occupied by travel (tourism) (45.0%), transport services (42.9%), telecommunications, computer and information services (5.7%), other business services (2.8%). At the same time, other services (3.6%) account for the largest share respectively in financial services (1.5%), insurance and pension services (0.9%), maintenance and repair services (0.4%) and etc.
During the reporting period, imports amounted to US$5.78 billion (an increase in growth rates, compared to January-February 2022, amounted to 25.1%). The main share in its structure is occupied by machinery and transport equipment (41.3%), industrial goods (14.8%), as well as chemicals and similar products (13.8%).
An analysis of the dynamics of imports of goods also showed that in January-February 2023, compared to the same period in 2022, the volume of imports of goods increased by US$1.14 billion and amounted to US$5.48 billion, and imports of services reached US$298.3 million.
The share of imports from the CIS countries, compared to the same period in 2022, decreased by 6.5% and, according to the results of January-February 2023, it amounted to 31.7%.
In general, according to the results of January-February 2023, goods and services were imported to Uzbekistan from 143 countries. More than 2/3 of imports come from such large partner countries as China,
In the structure of imports of the republic, a significant share was noted in the city of Tashkent, which is 54.6%, or US$3.15 billion, and the smallest share was recorded in Surkhandarya – 0.3%, or US$16.8 million.
The volume of imports of services in January-February 2023 amounted to US$298.3 million, or 5.2% of its total volume, and increased by 8.6% compared to the same period in 2022. As part of the import of services, the main share is occupied by travel (tourism - 55.3%), transport services (22.2%), telecommunications, computer and information services (7.9%), other business services (5.8%).
In addition, other services accounted for 8.8% of their total imports, including a high share of maintenance and repair services (4.7%), financial services (1.6%), fees for the use of intellectual property (1.0%), etc.
As the investment climate in the republic improves and on the basis of the reforms carried out in this area, it is natural to increase the import of machinery and equipment.
Thus, according to the results of January-February 2023, in the structure of imports, the volume of machinery and transport equipment reached US$2.38 billion and increased, compared to the same period in 2022, by 50.8%, in general, the share in the total volume of imports amounted to 41.3%
Based on this, imports of machinery and transport equipment increased by US$804.6 million. Most of the supply of these goods to the country falls on the PRC – US$670.6 million (28.1%), Germany – US$497.5 million (20.8%) and the Republic of Korea – US$209.4 million (8.8%).
According to the results of January-February 2023, in the structure of imports, the volume of industrial goods reached US$855.5 million and decreased by 6.3% compared to the same period in 2022; in general, the share in total imports amounted to 14.8 %.
Mainly imports of industrial goods account for cast iron and steel (US$339.1 million), metal products (US$127.7 million), textile yarn, fabrics, finished products (US$95.7 million), paper or cardboard (US$74.4 million), etc.