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Unofficial trade in Uzbekistan decreases 2.5 times

Business Materials 29 June 2019 14:05 (UTC +04:00)

Baku, Azerbaijan, June 29

By Fakhri Vakilov- Trend:

In 1Q2019, the volume of shuttle (unofficial) trade of Uzbekistan with other countries amounted to $97.7 million, which is 2.5 times less than in the same period last year ($243.8 million), Trend reports with reference to the report of the Central Bank of Uzbekistan.

Reportedly, the decrease in the volume of the shuttle trade is due to the restrictions adopted in Uzbekistan in October 2018. According to them, citizens were allowed to import goods from abroad free of charge not once a month, but once every six months.

Meanwhile, during the reporting period, individuals engaged in the import and export of goods for the purpose of resale (shuttles) imported products much more actively than they exported. The volume of imports amounted to $70.6 million, exports - to $27.1 million.

According to the Central Bank estimates, the total foreign trade turnover of Uzbekistan in January-March of 2019 it amounted to $8.1 billion, of which $4.7 billion accounted for imports and $3.4 billion for exports.

Central Bank states that the main export units of the country are “precious metals, precious or semi-precious stones” (gold prevails in this category), with which the country has traded nearly for $1.3 billion. Moreover, the entire volume of gold exports falls on one country - Switzerland.

The Central Bank estimates that total trade with other countries in the first quarter reached $ 9.9 billion. This figure differs somewhat from the State Statistics Committee indicator, which is $9.4 billion.

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