Uzbekistan foreign trade turnover amounts to $3.35B in January
Baku, Azerbaijan, February 19
By Fakhri Vakilov - Trend:
As of January 2019, Uzbekistan’s foreign trade turnover amounted to $3.35 billion, which is an increase by 26.8 percent, compared with the same period last year, Trend reports with reference to the State Statistics Committee of Uzbekistan.
Export volume reached $1.675 billion (growth rate - 16.6 percent), import volume - $1.675 billion (growth rate - 38.9 percent). The balance of foreign trade amounted to $31,000.
As a result of measures taken by Uzbek Government to strengthen cooperation with the CIS countries and comprehensive support for foreign trade, the share of CIS countries in foreign trade turnover amounted to 29.2 percent in January 2019 and, compared to the same period last year, the growth rate of foreign trade turnover reached 115 percent.
The share of other countries in foreign trade turnover in January 2019 increased by 2.9 percent and, compared to the same period last year, amounted to over 70 percent.
The volume of exports of Uzbekistan in January 2019 amounted to $ 1.675 billion (an increase, compared to the same period last year, reached over 16 percent). The share of goods in the composition of exports reached 88 percent, where energy carriers and petroleum products - 14.8 percent, food products - 3.6 percent, ferrous and non-ferrous metals - 5.3 percent.
Exports excluding gold increased by 46.1 percent, reaching $863.6 million.
China and Russia occupy the largest share in the export of goods and services of Uzbekistan. The share of these countries in total exports is 31.8 percent. The commodities exported to China and Russia include the group of energy carriers and petroleum products, chemical products and products from it, as well as food products.
The share of cotton fiber in total exports amounted to 0.2 percent in 2019, and significantly decreased compared to the same period last year. An analysis of the trend in the share of cotton fiber in total exports showed that over the past four years in January, exports of cotton decreased 22 times.
In January 2019, the volume of imports in Uzbekistan amounted to $ 1.675 billion (growth rate - 38.9 percent). Machinery and equipment (42.3 percent), chemical products and products from it (13.3 percent), and ferrous and non-ferrous metals (6.6 percent) occupy the main share in its structure.
Moreover, the analysis of structure of imported goods and services in January 2019 showed that, compared with the corresponding period last year, there were no significant changes, but it should be noted that the share of imports of machinery and equipment in the total volume increased from 33.1 to 42.3 percent.
Analysis of the dynamics of imports of goods and services also showed that in January 2019, compared with January 2018, the volume of imports of goods increased by $ 447.5 million and amounted to $ 1.5 billion while imports of services reached $168.1 million.
Five major partner countries (China, Russia, Kazakhstan, Korea and Turkey) in the total volume of imports have a share of 64.0 percent, which is $1.07 billion.
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.
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