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Uzbekistan's foreign trade deficit exceeds $5B amid falling exports

Business Materials 15 November 2018 09:54

Baku, Azerbaijan, Nov. 15

By Fikret Dolukhanov – Trend:

In January-October 2018, Uzbekistan’s foreign trade turnover amounted to $25.76 million, which is 15.8 percent more than in the same period last year, the State Statistics Committee of Uzbekistan said in a report.

In the total value of the foreign trade turnover, exports accounted for $10.25 million (a 4.1-percent decline), and imports accounted for $15.51 million (a 34.4-percent growth). The foreign trade deficit reached $5.25 million.

The share of CIS countries in Uzbekistan’s foreign trade turnover in January-October 2018 increased to 38.3 percent.

The main foreign trade partners of Uzbekistan are still China ($5 million), Russia ($4.56 million), Kazakhstan ($2.36 million), Turkey ($1.74 million) and South Korea ($1.53 million).

In the structure of exports, the share of goods reached 75.4 percent (energy resources and oil products accounted for 19.9 percent, food products accounted for 9 percent, chemical products and items thereof accounted for 7.3 percent).

The exports of services amounted to $2.52 million, or 24.6 percent of total exports value, which is 25.3 percent more than in the same period last year.

China and Russia have the biggest share in the exports of goods and services of Uzbekistan - 37.5 percent.

In the structure of imports, the main share accounts for machinery and equipment - 41.1 percent, chemical products and items thereof - 13.3 percent, food products - 8.4 percent.

The imports of services amounted to $1.85 million, or 12 percent of total imports value, which is 18.9 percent more than in the same period last year.

Russia, China, Kazakhstan, South Korea and Turkey accounted for $9.46 million in total imports value, which is 61 percent in Uzbekistan’s foreign trade turnover.

(8,271.27 soums = 1 USD on Nov. 15)

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