Uzbekistan’s foreign trade turnover reaches US$10.82bn


Tashkent, (DNA)-
 According to the results of January-April 2020, the foreign trade turnover (FTT) of Uzbekistan reached US$10.82 billion, which, compared with the same period of last year, decreased by US$1.3 billion.

Of the total FTT, exports reached US$4.41 billion (a decrease of 10.6% compared to January-April 2019 was recorded), while imports reached US$6.4 billion (a decrease of 10.8%) A passive balance of foreign trade turnover in the amount of US$1.99 billion was registered.

Uzbekistan has trade relations with more than 150 countries of the world. The largest volume of its foreign trade turnover among them was recorded with the Russian Federation (16.7%), China (16.6%), Kazakhstan (8.3%), the Republic of Korea (7.4%), Turkey (5.6%), Kyrgyzstan (2.0%) and Germany (2.0%).

Significant changes have been achieved in the structure of exports as a result of increased production of products that replaced imported goods and diversification of industrial production.

In addition, there is a strengthening of relations with neighboring countries, and a lot of work is being done to develop relations in the socio-economic, commercial, industrial and cultural spheres with these countries.

In particular, there have been significant changes in the FTT in recent years with neighboring countries, such as Kazakhstan and Kyrgyzstan. The presence of an active foreign trade balance with Kyrgyzstan, Tajikistan and Afghanistan can be considered as a positive result in the country’s foreign trade.

The largest volume of the FTT with other states (except for neighboring countries) falls on Russia, China, the Republic of Korea and Turkey.

Among the 20 major partner countries in foreign economic activity, there is also an active foreign trade balance with six countries, in particular with Afghanistan (US$213.7 million), Kyrgyzstan (US$138.8 million), Tajikistan (US$93.7 million), Turkey (US$42.8 million), France (US$23.6 million) and Iran (US$8.0 million). With the remaining 14 countries, a passive balance of foreign trade is maintained.

One third of the FTT volume falls on the CIS countries and, in recent years, there is a tendency to increase this indicator. This, in turn, indicates the expansion of foreign economic relations with the CIS countries.

As a result of measures taken by the government of the republic to strengthen cooperation with the CIS countries and comprehensive support for foreign trade, the share of foreign trade of the CIS countries, compared to the same period of 2018, increased by 3.1% and their share in foreign trade, according to the results of January-April 2020, made up 35.1%.

The volume of foreign trade turnover of other states in January-April 2020 decreased (a decrease of 10.5%) and made up 64.9% of the total foreign trade turnover.

In January-April of the current year, the total number of exporting entities made up 3 651 units and this ensured that the volume of exports, excluding special exports, reached up to US$2.86 billion (a decrease of 22.9% compared to the same period of 2019).

In the export structure, 83.0% is occupied by goods, which mainly account for industrial goods (17.1%), mineral fuels, lubricating oils and similar materials (8.0%), food products and live animals (6.2%).

There is a difference in the direction of export of goods and services between the CIS countries and other foreign countries. So, 27.5% of exports to the CIS countries primarily accounted for services, followed by industrial goods, various finished products, as well as mineral fuel, lubricating oils and similar materials.

During the reporting period, the export of beverages, tobacco, non-food raw materials (except fuel), machinery and transport equipment, various finished products, as well as animal and vegetable oil to the CIS countries increased at the fastest pace, the decline was primarily noted in the export of mineral fuels, food and chemicals.

An analysis of the structure of exported goods and services in January-April 2020, sent to other countries, showed that, compared with January-April 2019, the volume of exports of machinery and transport equipment, raw materials of non-food, mineral fuels, lubricants and similar materials, as well as services declined.

Over the past three years, the volume of exports to the CIS countries has increased and their share in its total volume has increased from 24.2% to 30.2%. Accordingly, the share of the total exports of other foreign countries decreased from 75.8% to 69.8%.

Compared with January-April 2018-2019, our main partners in the export of goods and services in foreign trade in January-April 2020 were such countries as the Russian Federation (11.9% of total exports), China (11, 6%), Turkey (7.3%), Kazakhstan (5.3%), Afghanistan (4.9%), Kyrgyzstan (4.1%) and Tajikistan (2.8%). Their share in total exports reached 47.8%.

In January-April 2020, compared to the same period, among the seven major partner countries for the export of goods and services, China went down one position, losing its leading position in the share of exports to the Russian Federation. The geography of partner countries for the export of goods and services, compared with the same period of 2019, increased from 135 to 140 countries.

The largest volume of exported goods among major partner countries accounted for mineral fuel, lubricating oil and similar materials, industrial goods, and various finished products.

According to the results of January-April 2020, the volume of export of services made up US$749.3 million, or 17.0% of its total volume and decreased by 22.8% compared to the same period of 2019. Over the past three years, the share of services in total exports has increased due to growth. In the export of services, the largest share falls on transport services (61.6%) and travel (tourism) (27.1%).

The volume of exports of fruits and vegetables in physical terms made up more than 362.6 thousand tons and, in value terms, exceeded US$185.4 million (the rate of decline compared to the same period of 2019 was 19.1% and 42 ,4 %).

Of these, 308.8 thousand tons of vegetables were exported in the amount of US$121.0 million, as well as 26.8 thousand tons of fruits and berries in the amount of US$34.2 million (the rate of decline in value terms, compared with the same period of 2019, respectively, made up 31.9% and 43.0%).

The main export markets for fruits and vegetables are Kazakhstan, Russia, Kyrgyzstan and Afghanistan.