Chief Editor: Ansar Mahmood Bhatti

Uzbekistan’s foreign trade turnover makes up US$6.39 billion in January-February

Uzbekistan’s foreign trade turnover makes up US$6.39 billion in January-February

Tashkent, Uzbekistan (DNA) — In January-February 2019, Uzbekistan carried out trade relations with more than 140 countries of the world. In particular, the foreign trade turnover of Uzbekistan in January-February 2019 reached US$6.39 billion and grew by US$1.29 billion, or 25.4% more than the corresponding period of last year.

According to the State Statistics Committee of Uzbekistan, of this number, exports reached US$3.03 billion (growth rates – 20.4%), and imports – US$3.35 billion (growth rates – 30.3%). Foreign trade balance made up minus US$319.2 million.

In January-February 2019, the number of enterprises engaged in the export of goods, compared to the same period of last year, increased by 281 units and their total number reached 2,096 units.

As a result of measures, taken by the government of the republic to strengthen cooperation with the CIS countries and comprehensive support of foreign trade, the share of mutual trade with the CIS member states in Uzbekistan’s foreign trade turnover in January-February 2019 reached 31.4% (US$2 billion), growth rates foreign trade turnover, compared with the previous year, amounted to 13.4%.

The share of other countries in foreign trade turnover in January-February 2019 increased by 3.3% and, compared to the same period of last year, was 68.6%.

The volume of exports of the Republic of Uzbekistan in January-February 2019 amounted to US$3.03 billion (an increase, compared with the same period of last year, reached 20.4%). The share of goods in the composition of exports reached 86.6%, of which energy and petroleum products – 16.0%, textiles and textile products – 7.5%, food products – 4.2%, ferrous metals and products from them – 1, 4%, non-ferrous metals and products from them – 4.6%.

Exports, excluding gold, increased by 45.3%, reaching US$1.8 billion.

An analysis of the structure of exported goods and services in January-February 2019 also showed that, compared with the corresponding period of last year, there were no significant changes, but it should be noted that the share of exports of all types of goods and services in total exports, in addition to gold, January-February 2019, compared with the corresponding period of last year, increased.

Analysis of the dynamics of exports of goods and services also showed that in January-February 2019, as compared with January-February 2018, the volume of exports of goods increased by US$500.9 million and amounted to US$2.63 billion. Services exports reached US$407.3 million .

The main partners in the export of goods and services in foreign trade were China (17.7% of total exports), Russia (11.4%), Kazakhstan (5.3%), Turkey (5.0%), Afghanistan (2.2%), Kyrgyzstan (1.7%) and France (1.2%).

The composition of the exported goods to these countries includes a group of energy carriers and petroleum products, chemical products and articles thereof, as well as food products.

If goods and services were exported to 119 countries in January-February 2018, then in January-February 2019 – to 123 countries.

The volume of exports of services in January-February 2019 amounted to US$407.3 million, or 13.4% of its total volume and increased, as compared with the same period of last year, by 3.3%. In the export of services, the lion’s share is taken up by transport services and tourism, as well as telecommunication, information, computer and financial services.

The export volume of fruits and vegetables amounted to more than 175.3 thousand tonnes and reached US$86.4 million (growth rate – 83.7%).

Of the fruits and vegetables, more than 135,400 tonnes of vegetables were exported (physical growth increased by 2.1 rubles) for US$44.6 million, fruits and berries – 39,900 tonnes (physical volume increased by 25.5 %) in the amount of US$41.8 million (growth rates in terms of value, compared to the same period of last year, were 39.4% and 38.9%, respectively).

As a result of the expansion of the country’s export potential and development of new markets, exports of fruits and vegetables, grapes, melons, legumes, as well as dried vegetables and fruits are growing. In January-February 2019, exports of fruits and berries, as well as vegetables, reached US$86.4 million (39.1% more (in value terms) than in the same period of last year).

In January-February 2019, exports of textile products made up US$226.7 million and increased, compared to the same period of 2018, by 9.3%, which is 7.5% of total exports. Of the export structure of textile products, the main share is cotton yarn (56.8%), as well as finished knitwear and garments (22.2%). Since the beginning of the year, more than 246 types of goods have been exported to 45 countries of the world.

In January-February 2019, the volume of imports in the Republic of Uzbekistan amounted to US$3.35 billion (growth rate – 30.3%).

The main share in its structure was occupied by machinery and equipment, including parts and accessories (42.0%), chemical products and products from it (12.9%), as well as ferrous metals and products from them (7.9%).

An analysis of the structure of imported goods and services in January-February 2019 also showed that, compared with the corresponding period of last year, there were no significant changes, but it should be noted that the share of imports of machinery and equipment, including parts and accessories, in its total volume increased from 34.5% to 42.0%.

Analysis of the dynamics of imports of goods and services also showed that in January-February 2019, compared with January-February 2018, the volume of imports of goods increased by US$764.3 million and amounted to US$3.04 billion. Service imports reached US$314.2 million.

In January-February 2019, goods and services from 124 countries were imported into the republic.

Five major partner countries (the People’s Republic of China, the Russian Federation, Kazakhstan, the Republic of Korea and Turkey) have a total share of imports of 65.7%, which is US$2.2 billion.

The volume of imports of services in January-February 2019 amounted to US$314.2 million, or 9.4% of total imports and increased, compared to the same period of last year, by 5.1%.

Tourism imports (travel), transportation services, as well as financial, telecommunication, information and computer services make up the bulk of imports of services.

In January-February 2019, the volume of imports of construction materials amounted to US$187.3 million and increased, compared with the same period in 2018, by 15.5%. The share of imports of building materials in the total volume reached 5.6%.

In the structure of imports of building materials, the main share is occupied by wood and wood products (52.7%), cement (9.3%), glass and wood products (5.5%), as well as asbestos (2.1%).

The growth in imports of construction materials is due to large-scale construction and reconstruction work in the country.