Tashkent, Uzbekistan (UzDaily.com) —  From January to October 2024, Uzbekistan’s foreign trade turnover totaled US$54.4 billion, marking an increase of US$3.4 billion or 6.7% compared to the same period in 2023. 

Of the total turnover, exports accounted for US$22.44 billion, reflecting a 9.6% increase year-on-year, while imports reached US$31.92 billion, up by 4.7%. This resulted in a trade deficit of US$9.48 billion. 

Kazakhstan has emerged as one of Uzbekistan’s largest trading partners, following China and Russia. This is attributed to their shared border, trade within the CIS free trade zone, and the liberalization of mutual economic relations. 

Uzbekistan currently maintains trade relations with 194 countries. The largest trade volumes were recorded with China (18.8%), Russia (17.8%), Kazakhstan (6.3%), Türkiye (4.5%), and South Korea (3.0%). 

Within the structure of the country’s foreign trade turnover, Tashkent holds a significant share of 38.5% (US$20.91 billion), while the smallest share was recorded in the Surkhandarya region, at 0.6% (US$323.7 million). 

The share of CIS countries in Uzbekistan’s foreign trade turnover increased by 2% compared to the same period in 2023, reaching 34.9%. 

The economic growth of countries trading with Uzbekistan is expected to boost demand for the country’s exports. 

Trade turnover with non-CIS countries decreased by 2% compared to the same period in 2023, accounting for 65.1% of the total turnover from January to October 2024. 

Uzbekistan’s trade turnover with CIS countries during the period amounted to US$18.95 billion, with exports totaling US$7.46 billion and imports US$11.50 billion. 

Trade within the CIS free trade zone has had a positive impact on Uzbekistan’s overall foreign trade turnover. The largest trade volumes with CIS countries were recorded with Russia (51.1%), Kazakhstan (18.1%), and Turkmenistan (5.0%). 

Foreign trade turnover with EAEU countries reached US$14.40 billion, with exports at US$4.84 billion and imports at US$9.56 billion. 

The number of exporters rose to 7,015, with the export of goods and services (excluding non-monetary gold) amounting to US$15.82 billion, an increase of 16.3% compared to the same period in 2023. 

In the export structure, goods accounted for 74.6%, including other goods (30.6%), industrial goods (15.2%), food products and live animals (7.6%), and chemical products (6.1%). 

The share of CIS countries in Uzbekistan’s export structure increased by 0.3% compared to the same period in 2023. 

Uzbekistan’s key partners for exports of goods and services from January to October 2024 included Russia, China, Kazakhstan, Türkiye, Afghanistan, France, and Kyrgyzstan. These countries accounted for 39.6% of total exports. 

In the export structure, Tashkent held the largest share at 19.9% (US$4.46 billion), while the smallest share was recorded in the Jizzakh region at 0.7% (US$163.3 million). 

Uzbekistan exported 1.70 million tons of fruits and vegetables during the reporting period, marking a 15.7% increase (230,500 tons) compared to the same period in 2023. 

The export volume of fruits and vegetables during the reporting period amounted to US$1.235 billion, reflecting a 29.8% increase compared to the same period in 2023. This category accounted for 5.5% of total exports. 

The primary markets for Uzbekistan’s fruit and vegetable exports were Russia (43.7%), Kazakhstan (13.3%), Pakistan (13.3%), and Afghanistan (8.2%). 

By the end of January–October 2024, the largest monetary value of fruit and vegetable exports was directed to Russia, representing 43.7% of the total. This figure is 3.3 times higher than the export volume to Pakistan, for instance. 

During the same period, textile exports amounted to US$2.433 billion, constituting 10.8% of total exports. However, this represented a 5.7% decrease compared to the same period in 2023. 

The structure of textile exports was dominated by yarn (43.5%) and finished textile products (39.1%). Textile goods were exported to 56 countries worldwide during the reporting period. 

The export of services totaled US$5.703 billion, or 25.4% of overall export trade, reflecting a 29.0% increase compared to the same period in 2023. Key service export categories included travel and tourism (49.0%), transportation services (35.8%), telecommunications, computer, and information services (8.5%), and other business services (3.1%). Among other services, financial services accounted for 1.0%, insurance and pension services for 1.0%, and construction services for 0.6%. 

Imports during the reporting period amounted to US$31.925 billion, marking a 4.7% growth compared to January–October 2023. The main categories of imports included machinery and transport equipment (35.1%), industrial goods (15.6%), and chemicals and related products (12.2%). 

An analysis of import dynamics revealed that the import of goods increased by US$535.7 million compared to the same period in 2023, reaching US$28.991 billion. Meanwhile, the import of services amounted to US$2.933 billion. 

The share of imports from CIS countries grew by 3.1% compared to the same period in 2023, accounting for 36.0% of total imports by the end of January–October 2024. 

Overall, Uzbekistan imported goods and services from 168 countries during the reporting period. More than two-thirds of imports came from major partner countries, including China, Russia, Kazakhstan, South Korea, Türkiye, Turkmenistan, and Germany. 

In the structure of imports, the largest share was noted in Tashkent, which accounted for 51.5%, or US$16.450 billion, while the smallest share was recorded in the Surkhandarya region, at 0.4%, or US$113.0 million.

The volume of imported services for January–October 2024 amounted to US$2.933 billion, representing 9.2% of total imports. This figure reflects a 43.2% increase compared to the same period in 2023. 

Within the structure of imported services, the largest share was accounted for by travel (tourism – 51.9%), transportation services (20.9%), telecommunications, computer, and information services (9.4%), and other business services (5.8%). 

Additionally, 12.0% of imported services fell under the category of "other services." This included significant contributions from charges for the use of intellectual property not classified elsewhere (3.8%), maintenance and repair services not classified elsewhere (3.6%), construction services (2.0%), and others. 

As of the end of January–October 2024, the import of industrial goods reached US$4.969 billion, which marked a 3.2% decrease compared to the same period in 2023. Industrial goods accounted for 15.6% of total imports. 

The primary categories of imported industrial goods included pig iron and steel (US$2.193 billion), metal products (US$668.4 million), textile yarns, fabrics, and finished goods (US$478.1 million), rubber products (US$360.1 million), and others.