Uzbekistan's turnover up by 37%
Baku, Azerbaijan, Oct. 21
By Fakhri Vakilov-Trend:
According to the results of January-September 2019, the foreign trade turnover of Uzbekistan amounted to $31,645 billion and increased by $8,577 billion, or 37,2 percent, compared to the corresponding period last year, Trend reports citing Uzbekistan’s State Statistics Committee.
Of this number, exports reached $13,677 billion (growth rate - 45.5 percent), and imports reached $17,968 billion (growth rate - 31.5 percent). The passive balance of foreign trade amounted to $4,291 billion.
Uzbekistan has trade relations with more than 181 countries of the world. The largest volume of foreign trade turnover was recorded with China (18.7 percent), Russia (14.9 percent), Kazakhstan (8.3 percent), South Korea (6.6 percent), Turkey (5.8 percent), Germany (2.4 percent) and Kyrgyzstan (2.0 percent).
In the 3Q2019, the volume of foreign trade turnover amounted to $11, 962 billion, and compared with the 2Q2019, it increased by 16.4 percent.
In the third quarter, the share of imports in foreign trade decreased compared with the second quarter (from 58.1 to 56.2 percent), while the share of exports increased (from 41.9 to 43.8 percent).
According to the results of January-September 2019, the trade turnover with the CIS countries amounted to $10, 703 billion and the share in the foreign trade turnover of Uzbekistan reached 33.8 percent.
The strengthening of socio-economic relations with neighboring countries also has a positive effect on mutual trade.
For example, 37.7 percent of trade with the CIS countries is occupied by neighboring states, including 42.6 percent of export and 33.9 percent of import.
The share of other than CIS countries in foreign trade turnover in the reporting period reached 66.2 percent ($ 20,942 billion), the growth rate of foreign trade turnover, compared to the same period last year, amounted to 147.8 percent.
Among the 20 major partner countries for foreign economic activity, there is an active balance of foreign trade with five countries, in particular with Afghanistan ($424.2 million), Kyrgyzstan ($423.7 million), Tajikistan ($104 million), France ($44 million) and Iran ($6.1 million).
For the remaining 15 countries, a passive balance of foreign trade is maintained.
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