Baku, Azerbaijan, July 23
By Fakhri Vakilov - Trend:
Key consumers of Uzbek textiles in the first half of 2019 were Russia and China, Trend reports with reference to State Statistics Committee of Uzbekistan.
In January-June, textiles worth $300.3 million were shipped to Russia, and $211.8 million to China.
These states accounted for 66.3 percent of the textile exports from Uzbekistan. They are followed by Turkey ($79.2 million), Kyrgyzstan ($43.4 million) and Iran ($24.1 million) with a large margin.
State Statistics Committee notes that in January-June 2019, exports of textile products amounted to $771.5 million, which is 9.1 percent of total exports, and increased by 18.3 percent compared to the same period in 2018.
In terms of the structure of exports of textile products, cotton yarn (57.6 percent), as well as finished knitwear and garments (23.4 percent) still occupy the main share.
Since the beginning of the year, over 357 types of goods have been exported to 52 countries of the world.
Uzbektextiletorg association estimated that the enterprises of the Uzbek light industry are tasked to increase the export of products from $1.2 billion in 2018 to $1.6 billion in the current year.
Uzbekistan has established processing capacities for more than 80 percent of cotton fiber and more than 45 percent of the yarn produced in the country.
Association experts estimate the need for funds for the production of finished export-oriented textile and knitted goods with high added value for 2019-2025 in $927 million. It is planned that $215 million will be provided from own funds of enterprises, $515.3 million will be allocated via loans of domestic commercial banks, and $197.2 million account for foreign investment and loans.
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