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Uzbekistan imports $20B worth of goods, services

Business Materials 20 November 2019 13:15
Uzbekistan imports $20B worth of goods, services

BAKU, Azerbaijan, Nov 20

By Fakhri Vakilov - Trend:

From January through October 2019, the volume of imports in Uzbekistan amounted to $19.9 billion, which is an increase of 28.5 percent compared to the same period in 2018, Trend reports citing Uzbekistan’s State Statistics Committee.

The main share in its structure is occupied by machinery and equipment, including parts and accessories (44.3 percent), chemical products and products from it (12.9 percent), as well as food products (7.5 percent).

Analysis of the dynamics of imports of goods and services also showed that from January through October 2019, compared with the corresponding period last year, the volume of imports of goods increased by $4.2 billion and amounted to over $17.9 billion. Service imports reached over $1.9 billion.

The largest share of imports of energy and oil products (94.6 percent), non-ferrous metals and products from them (60.1 percent), food products (65.8 percent), as well as ferrous metals and products from them (64.7 percent) occupied by the CIS countries, while the lion's share in machinery and equipment (88.2 percent), as well as on chemical products and products from it (78.9 percent) falls to other foreign countries.

An analysis of the structure of imported goods and services from January through October 2019 also showed that, compared to the corresponding period of the last year, the share of imports of machinery and equipment, including parts and accessories, in its total volume increased from 41.3 percent to 44.3 percent, and the share of food imports decreased from 8.4 percent to 7.5 percent.

According to the results of the reporting period, China ranked first among the major import partner countries with a share of imports in the total volume of 20.7 percent, ahead of Russia with a share of 16.3 percent. The Czech Republic was in the top twenty major import partner countries due to the accelerated growth in imports from Uzbekistan (with a growth rate of 2.3 times more compared to the same period last year).

According to the results from January through October 2019, Uzbekistan imported goods and services from 154 countries.

Seven major partner countries (China, Russia, South Korea, Kazakhstan, Turkey, Germany and the USA) in the total volume of imports have a share of 68.2 percent, which is more than $13.5 billion.

The volume of imports of services in January-October 2019 amounted to $1.9 billion or 10 percent of the total volume of imports and increased by 7.5 percent compared to the same period last year. The main share in the import of services is travel (tourism).

From January through October 2019, the volume of imports of building materials amounted to $1.1 billion and increased by 12.1 percent compared to the same period in 2018. The share of imports of building materials in their total volume reached 5.6 percent. Wood and its products (48.5 percent), cement (12.6 percent), glass and glass products (5 percent), and asbestos (2.5 percent) make up the bulk of the structure of imports of building materials.

Uzbekistan’s foreign trade turnover amounted to $34.7 billion and grew by $8.8 billion or 34.4 percent more than the corresponding period last year.

Uzbekistan maintains trade relations with more than 189 countries of the world. The largest volume of its foreign trade turnover among them was recorded with China (19.1 percent), Russia (15.1 percent), Kazakhstan (8.4 percent), South Korea (6.5 percent), Turkey (5.9 percent), Germany (2.4 percent) and Kyrgyzstan (2 percent).

The share of other countries in foreign trade turnover in the reporting period reached 65.8 percent ($22.8 billion), the growth rate of foreign trade turnover, compared to the same period last year, amounted to 52 percent.

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