Foreign trade turnover of Uzbekistan shrinks
BAKU, Azerbaijan, Aug. 21
By Ilkin Seyfaddini - Trend:
The foreign trade turnover of Uzbekistan reached $19.5 billion from January through July 2020, which, compared to the same period last year, indicates a decrease by $4.6 billion, Trend reports with reference to the State Statistics Committee of Uzbekistan.
Of the total foreign trade turnover volume, exports amounted to $8.2 billion (a 21.3 percent decline in comparison to the same period of 2019), while imports were $11.2 billion (a 17.7 percent decline). As a result, the balance of foreign trade turnover amounted to a negative balance of $2.9 billion.
Uzbekistan has trade relations with more than 150 countries. The largest volume of foreign trade turnover was recorded with China (17.6 percent), Russia (15.9 percent), Kazakhstan (7.8 percent), South Korea (6.7 percent), Turkey (5.3 percent), Kyrgyzstan (2.4 percent) and Germany (2.1 percent).
Among the 20 large trading partners, there was a trade surplus with five countries, in particular Afghanistan ($396.6 million), Kyrgyzstan ($329 million), Tajikistan ($173.6 million), the United Arab Emirates ($7.9 million) and France ($3.2 million).
The main partners of Uzbekistan in exporting goods and services to the WTO from January to July 2020 were countries such as China (12.2 percent of total exports), Russia (9.8 percent), Turkey (5.8 percent), Kazakhstan (5.7 percent), Kyrgyzstan (4.8 percent), Afghanistan (4.8 percent) and Tajikistan (2.7 percent). Their share in total exports has reached 45.9 percent.