Uzbekistan’s foreign trade turnover reaches US$12.57 billion in January-April

Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan’s foreign trade turnover totaled US$12.57 billion in January-April 2019 and increased by US$2.48 billion, or 24.6% more than the corresponding period of last year, the State Statistics Committee of Uzbekistan said.

Of this number, exports reached US$5.25 billion (growth rates - 14.3%), and imports - US$7.31 billion (growth rates - 33.3%). Foreign trade balance amounted to minus US$2.05 billion.

In January-April 2019, Uzbekistan led trade relations with more than 154 countries of the world.

In January-April 2019, the number of enterprises engaged in the export of goods, compared to the same period of last year, increased by 479 units and their total number reached 3 327 units.

An analysis of the dynamics of foreign trade turnover also showed an increase and in January-April 2019 it amounted to US$12.57 billion, which, as compared with the same period of last year, increased by US$2.48 billion.

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 mutual trade with the CIS member states in Uzbekistan’s foreign trade turnover in January-April 2019 reached 34.4% (US$4.33 billion), the growth rate of foreign trade turnover, compared with the previous year, was 34.0%.

The share of other countries in foreign trade turnover increased by 20.2% in January-April 2019 and, compared to the same period of last year, was 65.6%.

The volume of exports of the Republic of Uzbekistan in January-April 2019 amounted to US$5.25 billion (an increase, compared to the same period of last year, reached 14.3%). The share of goods in the composition of exports reached 81.7%, of which energy carriers and petroleum products - 18.7%, textiles and textile products - 9.8%, food products - 7.3%, ferrous metals and products from them - 1, 9%, non-ferrous metals and products from them - 6.0%.

Exports excluding gold increased by 32.4%, reaching US$4.02 billion.

An analysis of the structure of exported goods and services in January-April 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 all types of goods and services in total exports, in addition to gold, January-April 2019, compared with the corresponding period of last year, decreased.

Analysis of the dynamics of exports of goods and services also showed that in January-April 2019, compared with January-April 2018, the volume of exports of goods increased by $903.9 million and amounted to US$3.06 billion. Services exports reached US$960.6 million.

The main partners in the export of goods and services in foreign trade were China (21.4% of total exports), Russia (14.2%), Kazakhstan (7.4%), Turkey (6.6%), Afghanistan (3.2%), Iran (1.4%) and Tajikistan (1.5%).

The composition of the exported goods to these countries includes a group of energy carriers and petroleum products, chemical products and products from it, as well as food products.

If goods and services were exported to 136 countries in January-April 2018, then in January-April 2019 - to 137 countries.

The volume of exports of services in January-April 2019 amounted to US$960.6 million, or 18.3% of its total volume, and increased, as compared with the same period of last year, by 9.3%. Transport services and tourism, as well as telecommunications, information, computer and financial services, account for the lion’s share in service exports.

The export volume of fruits and vegetables amounted to more than 440,500 tonnes and reached US$281.3 million (growth rate - 80.7%, in value terms).

More than 367,300 tonnes of fruits and vegetables were exported (physical growth increased by 156.2%) to the amount of US$177.6 million, fruits and berries – 73,200 tonnes (physical volume increased by 28.7% ) in the amount of US$103.7 million (growth rates in terms of value, compared with the same period of last year, were 73.7% and 94.1%, respectively).

As a result of the expansion of the country’s export potential 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-April 2019, exports of fruits and berries, as well as vegetables, reached US$281.3 million, which is 80.7% more (in value terms) than in the same period of last year).

In January-April 2019, exports of textile products amounted to US$514.9 million and increased, compared to the same period of 2018, by 21.2%, which is 9.8% of total exports. Of the export structure of textile products, the main share is cotton yarn (58.2%), as well as finished knitwear and garments (22.2%). Since the beginning of the year, more than 246 types of goods have been exported to 47 countries of the world.

It is gratifying that, in the first years of independence, exports of light industry products of the republic had a raw material focus, now our country has begun to occupy leading positions in the export of finished products of the textile and light industries.

In January-April 2019, imports in the Republic of Uzbekistan made up US$7.31 billion (growth rates - 33.3%). The main share in its structure is occupied by machinery and equipment, including parts and components (44.0%), chemical products and products from it (12.9%), as well as ferrous metals and products from them (7.9%).

An analysis of the structure of imported goods and services in January-April 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 imports of machinery and equipment, including parts and components, in its total volume increased from 37.3% to 44.0%.

Analysis of the dynamics of imports of goods and services also showed that in January-April 2019, compared with January-April 2018, the volume of imports of goods increased by US$1.8 billion and amounted to US$6.65 billion. Service imports reached US$662.1 million

In January-April 2019, goods and services from 138 countries were imported into the republic.

The five major partner countries (the People’s Republic of China, the Russian Federation, the Republic of Korea, Kazakhstan and Turkey) have a total share of imports of 63.1%, which is US$4.61 billion.

The volume of imports of services in January-April 2019 amounted to US$662.1 million, or 9.1% of total imports and increased, compared to the same period of last year, by 4.0%. Tourism imports (travel), transportation services, as well as construction services, telecommunications, information and computer services make up the bulk of imports of services.

In January-April 2019, the volume of imports of building materials amounted to US$404.3 million and increased, compared to the same period of 2018, by 16.5%. The share of imports of building materials in the total volume reached 5.5%.

In the structure of imports of building materials, the main share is occupied by wood and wood products (48.7%), cement (13.0%), glass and wood products (4.7%), as well as asbestos (2.5%).

Imports of building materials in January-April 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.