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China remains Uzbekistan’s main trade partner in 2020

Business Materials 21 January 2021 13:50
China remains Uzbekistan’s main trade partner in 2020

BAKU, Azerbaijan, Jan. 21

By Klavdiya Romakayeva - Trend:

Uzbekistan's foreign trade turnover at the end of 2020 reached $36.2 billion, which is $5.4 billion (13.1 percent) less than last year, Trend reports referring to the State Statistics Committee of Uzbekistan.

According to the committee, the total export of Uzbekistan amounted to $36.2 billion, and imports - $21.1 billion.

In terms of exports, most of all it falls on goods - $7.3 billion and services - $4.9 billion. As a result, the negative balance of the foreign trade turnover amounted to $6 billion.

It is noted that China remained the main trade partner of Uzbekistan in 2020 with export amounting to $1.9 billion and $4.5 billion of imports. The second trade partner in 2020 was Russia (export - $1.4 billion, import - $4.1 billion). It is followed by Kazakhstan (export - $903 million, import - $2.1 billion), South Korea (export - $45.5 million, import - $2 billion) and Turkey (export - $1 billion, import - $1 billion).

It is reported that over the past three years, the volume of exports from Uzbekistan to the CIS countries has decreased and their share in its total volume has decreased from 35.7 percent to 27.1 percent. Instead, their volume to other countries increased from 64.3 percent to 79.2 percent.

In addition, the volume of exports of fruit and vegetable products in 2020 exceeded $1 billion, which is 16.5 percent lower than last year. Most often, Uzbekistan sold fruits and berries. Their exports amounted to $353.9 million. The main markets were Russia, Kazakhstan, Kyrgyzstan, and Pakistan.

Exports of textile products last year reached $1.9 billion, increasing by 18.1 percent compared to 2019.

Also, gold sales to other countries in monetary terms amounted to $5.8 million.

The volume of exports of services in 2020 amounted to $2 billion. The largest volume from this list falls on transport services - 71 percent, tourism - 12.8 percent and IT - 8.3 percent.

Furthermore, imports of machinery and transport equipment in Uzbekistan in 2020 reached $7.9 billion, industrial goods - $3.5 billion. Mainly imports of industrial goods are made of cast iron and unalloyed steel ($761.7 million), rubber tires and tubes for all types of wheels ($210.1 million), aluminum ($203.4 million) and others.

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Follow the author on Twitter: @romakayeva

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