Uzbekistan's foreign trade turnover up by almost $8 B
Baku, Azerbaijan, Sept. 18
By Fakhri Vakilov-Trend:
According to the results of January-August 2019, the foreign trade turnover of Uzbekistan amounted to $28.43 billion and increased by $7,911 billion or 38.6 percent more than the corresponding period last year, Trend reports citing the State Statistics Committee of Uzbekistan.
Of this number, exports reached $12,463 billion (growth rate - 46.7 percent), and imports - $15,970 billion (growth rate - 32.8 percent). A passive balance of foreign trade in the amount of $3,507 billion was noted.
Uzbekistan maintains trade relations with more than 181 countries of the world. The largest volume of foreign trade turnover was recorded with China (18.4 percent), Russia (14.5 percent), Kazakhstan (8.1 percent), South Korea (6.5 percent), Turkey (5.7 percent), Germany (2.3 percent) and Kyrgyzstan (2 percent).
Due to traditional trade relations with the CIS countries and comprehensive support of foreign trade, the share of mutual trade with the CIS member states in Uzbekistan's foreign trade in January-August 2019 reached 33.2 percent ($9.433 billion), the growth rate of foreign trade with the CIS amounted to 18.9 percent compared to the same period of the previous year.
Current trade relations with other foreign partners also continue to develop. Thus, the share of other countries other than CIS in foreign trade turnover in the reporting period reached 66.8 percent ($18.999 billion), the growth rate of foreign trade turnover amounted to 50.9 percent compared to the same period last year,
Among 20 major partner countries for foreign economic activity, there is an active balance of foreign trade with five countries including Kyrgyzstan ($388.1 million), Afghanistan ($359.9 million), Tajikistan ($88.6 million), France ($ 35.4 million) and Iran ($8.6 million). For the remaining 15 countries, a passive balance of foreign trade is maintained.
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