2023 Dec Uzbekistan Trade Data Summary: Deficit Widens

Uzbekistan 2023 Dec Trade Data Key Takeaways

• Market Trend: Uzbekistan trade data shows exports crashed 39.9% in Dec 2023 while imports surged 28.7%, widening deficit to $2.78B.
• Key Driver: Uzbekistan import export data reveals gold slump and machinery imports drove divergence, reflecting commodity dependence and industrial upgrades.
• Strategic Risk: Over-reliance on China/Russia for 53% of imports and cotton/copper exports exposes dual supply chain vulnerabilities.

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

Uzbekistan 2023 Dec Trade Data Trend Overview

• Uzbekistan, a key Central Asian producer of gold, natural gas, and cotton, posted a sharp contraction in its December 2023 Uzbekistan global trade data, reflecting commodity-driven volatility.
• The nation's Uzbekistan import export data for the period shows exports slumped 39.9% year-on-year to $967.4 million, while imports surged 28.7% to $3.75 billion.
• This divergence resulted in a significant trade deficit of approximately $2.78 billion for the month.
• The export collapse was primarily driven by a decline in gold shipments, a core revenue source, while strong import growth was fueled by machinery and equipment purchases for ongoing industrial modernization.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Uzbekistan 2023 Dec Top Trading Products

Uzbekistan Global Trade Core Summary

Uzbekistan's exports are heavily resource-driven, with cotton (16.16%) and copper (11.40%) as top products, alongside textiles and agricultural goods like vegetables and fruits. Imports are dominated by machinery (15.47%), vehicles (13.68%), and electrical equipment (10.93%), reflecting reliance on industrial inputs and technology. The trade structure shows a clear divide: raw materials and low-value-added goods exported versus high-value machinery and equipment imported. Key risks include dependence on a few export commodities and high import costs for industrial goods.

• Key Takeaways:
  • Cotton and copper dominate exports, indicating reliance on primary commodities.
  • Imports focus on machinery and vehicles, highlighting industrial dependency.
  • Limited export diversification increases vulnerability to price swings.
  • Textiles and agriculture contribute moderately but lack high-value processing.
  • Energy imports (10.35%) suggest domestic supply gaps.

Uzbekistan Export-Import Structural Gap

Uzbekistan exports raw materials but imports finished industrial goods, showing a classic resource-based economy pattern. The overlap in HS code 87 (vehicles) suggests some local assembly, but imports far exceed exports. The lack of high-value exports in machinery or electronics points to limited industrial upgrading. Opportunities exist in processing cotton and copper domestically to reduce reliance on imported machinery. The trade gap underscores the need for diversification and value-added production.

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

Check Detailed Uzbekistan Trade HS Code Breakdown

Uzbekistan 2023 Dec Top Trading Countries

Uzbekistan Global Trade Key Patterns

Uzbekistan's exports show moderate concentration, with Russia (26.4%) and Mainland China (14.1%) as top destinations, followed by regional neighbors like Turkey, Kazakhstan, and Afghanistan. Imports are more heavily reliant on Mainland China (34.5%) and Russia (18.6%), with Kazakhstan and South Korea as secondary suppliers. Key asymmetries include:

• Exports are regionally focused, with Central Asia and nearby markets dominating.
• Imports depend heavily on a few large suppliers, particularly China.
• Russia appears in both top export and import lists, suggesting bilateral trade ties.
• No major Western markets feature in exports, while imports include EU suppliers like France and Germany.

Uzbekistan Export–Import Geographic Gap

Uzbekistan’s exports flow mainly to neighboring and regional markets, while imports are dominated by a few large suppliers, notably China. The overlap with Russia in both lists hints at processing trade or resource exchanges. Export markets are more diversified than import sources, which show stronger dependency. The structure suggests upstream reliance on key suppliers (China, Russia) and downstream sales to nearby economies. Trade ties remain largely regional, with limited global reach in exports.

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 Dec?

Cotton (16.16%), copper and articles (11.40%), mineral fuels (7.29%), apparel (6.49%), and edible vegetables (5.36%) were Uzbekistan's top exports by value in December 2023.

What are the main products Uzbekistan imports in 2023 Dec?

Machinery (15.47%), vehicles (13.68%), electrical equipment (10.93%), mineral fuels (10.35%), and aircraft/spacecraft parts (4.96%) dominated Uzbekistan's December 2023 imports.

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

Mainland China (34.50%), Russia (18.64%), Kazakhstan (7.94%), South Korea (5.71%), and Turkey (4.85%) received the majority of Uzbekistan's December 2023 exports.

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

Russia (26.37%), Mainland China (14.06%), Turkey (8.44%), Kazakhstan (8.08%), and Afghanistan (7.48%) were Uzbekistan's primary import sources in December 2023.

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

Uzbekistan faced a $2.78 billion trade deficit in December 2023, with exports dropping 39.9% to $967.4 million while imports grew 28.7% to $3.75 billion, driven by declining gold shipments and rising machinery purchases.