2023 Aug Uzbekistan Global Trade Data Summary: Surging Imports, Widening Deficit

Uzbekistan 2023 Aug Trade Data Key Takeaways

• Market Trend: Uzbekistan trade data shows imports surging 41.2% YoY, widening trade deficit to $2.27B in Aug 2023.
• Key Driver: Uzbekistan import export data reveals machinery (19.5% of imports) and China (34.3%) as top product/partner.
• Strategic Risk: Export reliance on raw cotton/copper exposes economy to commodity swings while industrial gaps persist.

Analysis covers 2023 Aug based on sanitized customs records from the yTrade database.

Uzbekistan 2023 Aug Trade Data Trend Overview

• Uzbekistan, a Central Asian economy transitioning from commodity dependence to manufacturing, saw its global trade data for August 2023 reflect a period of heavy capital goods importation.
• The Uzbekistan import export data showed exports of $1.04 billion rose 4.6% year-on-year, while imports surged 41.2% to $3.31 billion, indicating robust domestic investment activity.
• This resulted in a significant trade deficit of approximately $2.27 billion for the month.
• The import spike, absent specific policy news, aligns with the nation's ongoing industrial modernization, likely driven by capital equipment and machinery purchases for infrastructure and manufacturing projects.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Uzbekistan Trade Data

Uzbekistan 2023 Aug Top Trading Products

Uzbekistan Global Trade Core Summary

Uzbekistan's exports are led by raw materials and low-value-added goods, with cotton (10.7%), copper (8.7%), and knitted apparel (8.0%) as top categories. Mineral fuels, edible fruits, and fertilizers also play key roles, showing a reliance on agriculture and mining. Imports, however, are dominated by machinery (19.5%), vehicles (14.0%), and electrical equipment (9.8%), indicating a need for industrial inputs. The trade structure suggests a resource-driven export economy with high dependence on imported machinery and technology. Key takeaways:

• Heavy reliance on cotton and copper exposes exports to commodity price swings.
• Apparel exports hint at light manufacturing but lack high-value diversification.
• Machinery imports reveal gaps in domestic industrial capacity.

Uzbekistan Export-Import Structural Gap

Uzbekistan exports raw materials but imports finished goods, highlighting an industrial gap. Cotton and copper dominate exports, while machinery and vehicles lead imports—showing a need for advanced manufacturing. Overlap in HS codes 84 (machinery) and 87 (vehicles) suggests some processing trade, but import values far exceed exports. The country could focus on upgrading agro-processing or textiles to reduce import dependence. The data points to an economy still building its industrial base.

Table: Uzbekistan Top Import & Export Product Categories (Source: yTrade)

Check Detailed Uzbekistan Trade HS Code Breakdown

Uzbekistan 2023 Aug Top Trading Countries

Uzbekistan Global Trade Key Patterns

Uzbekistan’s exports are heavily concentrated in neighboring and regional markets, with Russia (24.9%), Mainland China (13.7%), and Kazakhstan (12.4%) accounting for over half of total exports. Imports, however, show a stronger reliance on Mainland China (34.3%), with Russia (16.5%) and Kazakhstan (7.7%) also playing significant roles. Key asymmetries include:

• Exports are regionally focused, with Central Asia (Kazakhstan, Kyrgyzstan, Tajikistan) and nearby markets (Turkey, Afghanistan) dominating.
• Imports are more diversified but still dependent on China, with additional sourcing from South Korea, Turkey, and Brazil.
• Overlap exists with Russia, China, and Kazakhstan appearing in both top export and import lists, suggesting bilateral trade ties.

Uzbekistan Export–Import Geographic Gap

Uzbekistan’s exports target regional markets, while imports draw from a broader global base, though still led by China. The export structure leans on nearby economies, whereas imports include distant suppliers like Brazil and Germany. Russia and China appear in both lists, indicating two-way trade flows. The gap suggests downstream diversification in exports but upstream dependency on key import partners, particularly China. This imbalance highlights a reliance on external suppliers for critical goods.

Table: Uzbekistan Top Destiantion & Origin Countries (Source: yTrade)

Get Complete Uzbekistan Trading Patner Countries Profile

Frequently Asked Questions

What are the major products exported by Uzbekistan in 2023 Aug?

The top exports include cotton (10.67% of total exports), copper (8.65%), apparel (8.01%), mineral fuels (6.74%), and edible fruits/nuts (5.97%), based on HS code data.

What are the main products Uzbekistan imports in 2023 Aug?

Key imports are machinery (19.54% of total imports), vehicles (13.95%), electrical equipment (9.75%), iron/steel (5.64%), and plastics (4.40%), per HS code analysis.

Which countries are the top destinations for Uzbekistan's exports in 2023 Aug?

Mainland China (34.28% of exports), Russia (16.53%), Kazakhstan (7.68%), and South Korea (6.34%) were the leading destinations, according to trade data.

Which countries supply most of Uzbekistan's imports in 2023 Aug?

Russia (24.88% of imports), Mainland China (13.73%), Kazakhstan (12.41%), and Turkey (10.35%) were the primary import origins.

How balanced are Uzbekistan's export and import markets in 2023 Aug?

Uzbekistan had a $2.27 billion trade deficit in August 2023, with imports ($3.31B) surging 41.2% YoY while exports ($1.04B) grew only 4.6%, reflecting heavy capital goods purchases.