Uzbekistan flag Uzbekistan: Economic and Political Overview

Foreign trade figures of Uzbekistan

Foreign Trade in Figures

According tot the latest available data by the World Bank, Uzbekistan's foreign trade represented 64% of GDP in 2021 (World Bank, 2023). As a producer of oil, natural gas, and gold and as the 6th largest producer of cotton, natural resources dominate the country’s exports. Uzbekistan’s other exports include machines and equipment, and food. The country exports pearls, gold, precious stones, metals and coins (45%), cotton (9%), mineral fuels, oils, distillation products (5.9%) and copper (5.5%). Imports include machinery, nuclear reactors, boilers (24%), vehicles other than railway, tramway (9.2%), iron and steel (6.2%) and pharmaceutical products with 5.8% (Trading Economics, 2022). Uzbekistan total Exports expanded 25.2% Year on Year in Mar 2021, compared with a decrease of 38.9 % Year on Year in the previous month.

In 2022, main export destinations included Russia (17% of all exports), China (11.5%), Turkey (9.5%) and Kazakhstan (8.2%). Imports arrived from China (22.4%), Russia (21.4%), Kazakhstan (11.4%), South Korea, and Turkey. As of 2022, Uzbekistan has trade relations with over 140 countries and has signed trade agreements with 45 countries. In 2020, the country became an observer in the Eurasian Economic Union, and although Uzbekistan is not a member of the WTO yet, the nation is working on accession. Additionally, the UAE and Uzbekistan have agreed to expand their partnership and  increase trade volume and investments in textiles, renewable energy, infrastructure, and agriculture. A large trade and logistics centre will also be constructed in the border areas of Kazakhstan and Uzbekistan.

According to WTO data for 2021, Uzbekistan exported goods for total value of 14.08 billion USD, while it imported goods for a total value of 23.74 billion USD. As for commercial services, Uzbekistan exported 2.25 billion USD and imported 4.72 billion USD worth services. As a result, the country had a negative trade balance including services of 11.37 billion USD in 2021 (WTO, 2023).

 
Foreign Trade Values 20182019202020212022
Imports of Goods (million USD) 17,31221,86720,02023,88628,264
Exports of Goods (million USD) 10,92114,93013,28114,09215,287
Imports of Services (million USD) 5,1915,3983,5905,0277,301
Exports of Services (million USD) 2,7503,1271,7042,3004,815

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP) 71.272.561.863.871.6
Trade Balance (million USD) -6,867-7,291-6,216-8,767-11,199
Trade Balance (Including Service) (million USD) -9,308-9,562-8,102-11,494-13,685
Imports of Goods and Services (Annual % Change) 42.313.4-14.923.413.6
Exports of Goods and Services (Annual % Change) 10.216.4-20.113.424.6
Imports of Goods and Services (in % of GDP) 44.444.237.740.244.3
Exports of Goods and Services (in % of GDP) 26.828.324.223.727.3

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20232024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) 30.620.316.812.515.8
Volume of imports of goods and services (Annual % change) 19.217.716.514.514.7

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Uzbekistan is a part of two big regional organizations - The Economic Eurasiatic Community and the Organization of Economic Cooperation.
 

Main Partner Countries

Main Customers
(% of Exports)
2022
China 11.5%
Türkiye 9.5%
Kazakhstan 8.2%
Kyrgyzstan 6.1%
Afghanistan 3.4%
See More Countries 61.3%
Main Suppliers
(% of Imports)
2022
China 22.4%
Kazakhstan 11.4%
South Korea 7.7%
Türkiye 5.9%
Germany 3.6%
See More Countries 49.1%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 
 
 

To go further, check out our service Import Export Flows.

 

Main Services

Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: December 2023

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