Uzbekistan increases export of textiles

Business Materials 26 February 2020 16:28 (UTC +04:00)

BAKU, Azerbaijan, Feb. 26

By Ilkin Seyfaddini – Trend:

Uzbekistan's foreign trade turnover reached $2.9 billion, following the results of January 2020, Trend reports with the reference to Committee of Statistics of Uzbekistan.

Exports of textile products worth $155.2 million were carried out in January 2020 and increased by 1.4 times compared to January 2019, Trend reports with reference to the Committee of Statistics of Uzbekistan.

According to official statistics, the export of textile has surpassed the export of energy-related products and oil products ($152.2 million). Meanwhile, gold has been exported in the same period for $489.8 million.

The report says that cotton yarn (56.1 percent), as well as finished knitwear and garments (22.4 percent) account for the bulk of textile exports. In January 2020, over 276 types of textile products were exported to 48 countries.

Russia ($60 million, 38.7 percent), China ($38.9 million, 25.1 percent) and Turkey ($19.8 million, 12.7 percent) accounted for the largest share of textile exports.

The benefit allowing the Association's enterprises to purchase semi-finished textile products (yarns, fabrics, knitted fabrics, cotton spinning waste, accessories and fittings) with zero rate VAT has run out. All enterprises of the branch have passed on payment of the general size of the VAT (15 percent).


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