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Gold, energy – main export products of Uzbekistan

Business Materials 23 January 2019 11:25 (UTC +04:00)

Baku, Azerbaijan, January 23

Trend:

Gold and energy were the “main pillars" of Uzbek export in 2018 and significantly improved trade balance of the country, Trend reports via Podrobno.uz.

State Statistics Committee noted that the gold exports exceeded $2.9 billion and energy $2.6 billion in last year making almost 40 percent of national exports.

Uzbek’s volume of export amounted to $14,257.9 million in January-December 2018 which exceeds the same period of 2017 by 13.6 percent.

The share of goods in the composition of export reached 78.7 percent where energy carriers and petroleum products were 18.7 percent, food products were 7.7 percent, ferrous and nonferrous metals were 8.2 percent.

The report stated that compared with November, exports of goods and services increased by $1.930 million in December 2018.

An analysis of the structure of exported goods and services in 2018 also demonstrated that there were no significant changes compared with the corresponding period last year, the report says.

According to Uzbekistan's State Statistics Committee, the number of enterprises engaged in the export of goods, increased by 446 in 2018 and their total number reached 3509 units.

With the growth of export by 13.6 percent, the volume of import increased by 39.6 percent and reached $19,557.4 million. The balance of foreign trade was minus $5299.5 million.

Uzbek foreign trade turnover increased by 27.3 percent and amounted to $33,815.3 million in last year.

“We set a goal next year to increase export by 30 percent and bring it to $18 billion. We must switch to an export-oriented economy and form a competitive environment on the domestic market,” Uzbek president stated in his message to the parliament.

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