Uzbekistan’s foreign trade turnover makes up US$3.35 billion in January

Tashkent, Uzbekistan (UzDaily.com) -- In January 2019, Uzbekistan’s foreign trade turnover made up US$3.35 billion and increased compared to the same period of last year by 26.8%.

According to the State Statistics Committee of Uzbekistan, exports reached US$1.675 billion (growth rate - 16.6%), import volume - US$1.675 billion (growth rate - 38.9%). The foreign trade balance amounted to US$31,000.

According to the results of January 2019, the number of enterprises engaged in the export of goods, compared to the same period of last year, increased by 81 units and their total number reached 1037 units.

Analysis of the dynamics of foreign trade turnover also showed an increase and in January 2019 it amounted to US$3.35 billion, which, compared to the same period of last year, increased by US$707.8 million.

As a result of measures taken by the Government of the Republic to strengthen cooperation with the CIS countries and comprehensive support for foreign trade, the share of CIS countries in foreign trade turnover in January 2019 was 29.2% and, compared to the same period of last year, the growth rate of foreign trade turnover reached 15.3%.

The share of other countries in foreign trade turnover in January 2019 increased by 2.9% and, compared to the same period of last year, amounted to 70.8%.

The volume of exports of the Republic of Uzbekistan in January 2019 made up US$1.675 billion (an increase, compared to the same period of last year, reached 16.6%). The share of goods in the composition of exports reached 88.0%, of which energy resources and petroleum products - 14.8%, food products - 3.6%, ferrous and non-ferrous metals - 5.3%. Exports excluding gold increased by 46.1%, reaching US$863.6 million.

Analysis of the structure of exported goods and services in January 2019 also showed that, compared with the corresponding period of last year, there were no significant changes, but it should be noted that the share of exports of certain types of goods and services in the total export volume increased in January 2019, compared with the corresponding period of last year.

Analysis of the dynamics of exports of goods and services also showed that in January 2019, compared with January 2018, the volume of exports of goods increased by US$228.9 million and amounted to US$1.47 billion. The export of services reached US$201.3 million.

China and Russia occupy the largest share in the export of goods and services of the Republic of Uzbekistan. The share of these countries in total exports is 31.8%. The commodities exported to China and Russia include the group of energy carriers and petroleum products, chemical products and products from it, as well as food products.

According to the results of January 2019, the share of cotton fiber in total exports amounted to 0.2%, and significantly decreased compared to the same period of last year. During this period, 1.6 thousand tons of cotton fiber were exported in the amount of US$3.1 million.

Analysis of the trend in the share of cotton fiber in total exports showed that over the last four years of January, exports of cotton decreased 22 times. In 2016, 34,600 tons of cotton fiber were exported for US$49.4 million.

In January 2017, exports of cotton fiber amounted to US$55.8 million (physical volume – 33,800 tons). According to the results of January 2018, its share in total exports decreased and amounted to 0.5%, in general, 3,800 tons of raw materials were exported by US$7.4 million. By the results of January 2019, 1,600 tons of cotton were exported fiber worth US$3.1 million

The volume of export services in January 2019 amounted to US$201.3 million, or 12.0% of its total volume and increased, as compared with the same period of last year, by 5.0%. Transport services and tourism, as well as telecommunication, information, computer and financial services, account for the lion’s share in the export services.

The export volume of fruits and vegetables amounted to more than 74,900 tons and reached US$36.0 million (growth rate - 21.0%). Of the fruits and vegetables, more than 55,100 tons of vegetables were exported (physical growth increased by 92.3%) in the amount of US$19.0 million, fruits and berries – 7,500 tons (physical volume increased by 18.0% ) in the amount of US$5.5 million (growth rates in terms of value, compared to the same period of last year, were 20.8% and 84.3%, respectively).

It is noteworthy that as a result of the expansion of the export potential of the country and the development of new markets, exports of fruits and vegetables, grapes, melons, legumes, as well as dried vegetables and fruits, are growing. In January 2019, exports of fruits and berries, as well as vegetables, reached US$24.5 million (11.4% more than during the same period of last year).

In January 2019, imports in the Republic of Uzbekistan amounted to US$1.675 billion (a growth rate of 38.9%). The main share in its structure is occupied by machinery and equipment (42.3%), chemical products and products from it (13.3%), as well as ferrous and non-ferrous metals (6.6%).

An analysis of the structure of imported goods and services in January 2019 also showed that, compared with the corresponding period of last year, there were no significant changes, but it should be noted that the share of imported machinery and equipment in its total volume increased from 33.1% to 42 3%.

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 US$447.5 million and amounted to US$1.5 billion. Service imports reached US$168.1 million.

Five major partner countries (the People’s Republic of China, the Russian Federation, Kazakhstan, the Republic of Korea and Turkey) have a share of 64.0% in total imports, which is US$1.07 billion.

The volume of imports of services in January 2019 amounted to US$168.1 million, or 10.0% of total imports and increased, compared to the same period last year, by 15.0%. 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 US$96.0 million and increased, compared to the same period of2018, by 29.6%. The share of imports of building materials in the total amount is 5.7%. In the structure of imports of building materials, the main share is occupied by wood and wood products (54.0%), cement (8.2%), glass and wood products (6.1%), and asbestos (1.9%).

Imports of building materials in January 2019, compared with the corresponding period of 2018, increased significantly. The growth in imports of construction materials is due to large-scale construction and reconstruction work in the country.

It should be noted that the government is implementing a number of reforms aimed at the production of building materials and products, as well as providing the domestic market with high-quality and, at the same time, low-cost construction materials.

The increasing volume of imports of machinery and equipment is a reflection of industrialization policies, as well as an active policy to support foreign direct investment in the creation, modernization and increase in production capacity. The tables below contain information about major partner countries exporting machinery, equipment, food products to the Republic of Uzbekistan and having the main share in the republic’s imports.