Foreign trade figures of Uzbekistan

Foreign Trade in Figures

According to the latest available data by the World Bank, Uzbekistan's foreign trade represents 64% of GDP (World Bank, latest data available). As a producer of oil, natural gas, gold, and cotton, natural resources dominate the country’s exports. According to the National Statistics Agency, in 2023,  exports were primarily comprised of gold (33.4% of the total), followed by services (21.2%), industrial goods (16.6%), food and live animals (7.6%), chemical products (5.4%), and mineral fuels (3.9%). Uzbekistan's import pattern reflects its continuous industrialization and modernization efforts, with machinery and transport equipment (39.2%), industrial goods (16.6%), and chemicals and related products (12.8%) dominating the import structure. In 2023, Uzbekistan had 35,000 foreign trade participants, up by 3,500 from 2022, including 7,300 exporters (up 89) and 27,700 importers (up 3,400).

The country’s main export destinations in 2023 were Russia (13.5%), China (10.1%), Kazakhstan (5.6%), Turkey (5.1%), Afghanistan (3.5%), and Kyrgyzstan (2.6%), whereas imports came chiefly from China (29.5%), Russia (17.2%), Kazakhstan (7.9%), South Korea (6%), and Turkey (4.9% - data Statistics Agency). In 2023, CIS countries accounted for 32.9% of Uzbekistan’s foreign trade turnover, with trade volume down 6.8% compared to 2022. As of 2024, Uzbekistan has trade relations with 198. The country is an observer in the Eurasian Economic Union, and although is not a member of the WTO yet, the nation is working on accession.

According to WTO data, in 2023, Uzbekistan exported goods for a total value of USD 20 billion, while imports totalled USD 36.7 billion (+31.1% and +30.1% y-o-y, respectively). As per commercial services, Uzbekistan exported USD 5.3 billion against USD 7.6 billion in imports. The country has a structurally negative trade balance. The trade deficit was estimated at 17% of GDP in 2023 by the World Bank, compared to 15.2% one year earlier. According to the Statistics Agency, Uzbekistan’s foreign trade turnover rose by 3.8% in 2024, reaching USD 65.9 billion—an increase of USD 2.4 billion from 2023. Exports grew by 8.4% to USD 26.9 billion, while imports edged up 0.8% to USD 39 billion, reducing the trade deficit by 12% to USD 12.04 billion.