Gold, energy hold leading positions among Uzbekistan's exports

Business Materials 23 January 2020 20:00 (UTC +04:00)
Gold, energy hold leading positions among Uzbekistan's exports

BAKU, Azerbaijan, Jan. 23

By Ilkin Seyfaddini – Trend:

Gold and energy sources were on top of Uzbekistan's exports in 2019, Trend reports citing State Statistics Committee of Uzbekistan.

Following the results of 2019, Uzbekistan's foreign trade turnover made up $42.4 billion and increased by 26.2 percent compared to 2018.

This result was recorded as the highest indicator in the history of the country, the report said.

Total volume of foreign trade turnover, exports reached $17.9 billion (an increase of 28 percent), while imports - $24.3 billion (24.9 percent). The foreign trade balance was negative (- $6.4 billion).

In the structure of exports in 2019, 80.1 percent are goods, which are mainly precious metals (including silver - 28.2 percent), energy and oil products (14.1 percent), textiles (9.1 percent), food products (8.5 percent) - mainly fruit and vegetable products (6.7 percent), non-ferrous metals and their products (5.3 percent), as well as chemical products (4.9 percent), the State Statistics Committee said.

According to the results of January through December 2019, goods and services from 193 countries were imported to Uzbekistan.

Country’s seven major partners are China (18.1 percent), Russia (15.7 percent), Kazakhstan (8 percent), Korea (6.5 percent), Turkey (6 percent), Germany (2.3 percent) and Kyrgyzstan (2 percent).

The volume of foreign trade in 2020 is projected at $46.9 billion with a negative balance of $5.8 billion. The main driver of the deficit growth will be an increase in imports of technological equipment and machinery.