BAKU, Azerbaijan, Jan. 13
By Klavdiya Romakayeva - Trend:
Uzbekistan has set to significantly increase export volumes, including bringing the export of electrical products to $370 million in 2021, Trend reports referring to CERR (Center for Economic Research and Reforms).
The heads of the Eurasian Economic Union (EAEU) member states decided to grant Uzbekistan the status of an observer state at the EAEU at a meeting of the Supreme Eurasian Economic Council on December 11, 2020.
Over the past three years, Uzbekistan's trade with the EAEU countries has grown by 54.5 percent, exports by 41.7 percent, and imports by 65.2 percent. At the same time, Uzbekistan exports to the markets of the EAEU countries mainly finished products of the manufacturing industry and agriculture, rather than raw materials that are supplied mainly to non-CIS countries.
“Thus, almost a quarter of Uzbekistan's total exports go to the EAEU countries, not taking into account raw materials in the total export volume, the share held by the EAEU countries will be much higher,” the message says. “In this regard, enterprises of the electrical industry will need to expand their niche in foreign export markets, among which the main one is the market of the EAEU countries.”
According to Uzeltekhsanoat Association, over the past three years, the volume of products manufactured by enterprises of the electrical industry has increased 2.5 times. High growth rates are observed in the production of household appliances, the volume of which in 2019 and for 10M2020 increased almost two times more than in 2018 and for the same period last year.
In addition, over the past three years, the export of electrical products in Uzbekistan has grown by 31.6 percent, while the export of household appliances has grown by more than 2.2 times. By the end of 2020, the volume of exports of electrical products was planned to be increased to $300.4 million with an increase of 20 percent.
It was reported that the export of electrical products for 10M2020 increased by 25.3 percent, and the export of household appliances almost doubled compared to the same period last year.
Moreover, the geography of exports of electrical products is expanding every year, but the main sales markets are still the CIS countries, mainly from among the EAEU members, to which more than one third of the total export of this type of product is supplied.
The share of EAEU countries in total exports of electrical products for 10M2020 increased from 33.2 percent to 40.0 percent compared with the same period last year, while the share of household appliances increased from 51.9 percent to 60.3 percent, power equipment from 41.0 percent to 53.2 percent, and exports of cable products did not change amounting to 22.7 percent.
The CERR noted that the main share of exported products for many types of household appliances is supplied to the markets of the EAEU countries, in particular to Kazakhstan, Russia and Kyrgyzstan.
Thus, 99.5 percent of all exported lighting and visual signaling devices for 11M2020 were delivered to the markets of the EAEU countries, 92.8 percent of kitchen gas stoves, 75.9 percent of household electric stoves, 60.8 percent - TVs and monitors, 68.1 percent - vacuum cleaners, 60.4 percent - refrigerators, 52.6 percent - washing machines, 49.0 percent - electric cables, and 42.8 percent transformer products.
According to the State Statistics Committee of Uzbekistan, the volume of utilized investments in the industry for 11M2020 amounted to $151 million, increasing by 2.7 times compared to the same period last year.
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