2023 Jul Uzbekistan Global Trade Data Summary: Deficit Surge

Uzbekistan 2023 Jul Trade Data Key Takeaways

• Market Trend: Uzbekistan trade data shows a $660M deficit as imports (+58.4%) outpace exports (+162.3%) in Jul 2023.
• Key Driver: Uzbekistan import export data reveals gemstones (HS 71) dominate exports, while machinery (HS 84) leads imports.
• Strategic Risk: Over 50% export concentration to one market heightens vulnerability to demand shocks.

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

Uzbekistan 2023 Jul Trade Data Trend Overview

• Uzbekistan, a Central Asian economy diversifying beyond commodity exports, posted a significant trade deficit in July 2023 based on its latest global trade data.
• The July 2023 Uzbekistan import export data shows exports surged 162.3% year-on-year to $2.56B, while imports grew 58.4% to $3.22B, indicating robust but imbalanced demand for foreign goods and capital.
• This resulted in a monthly trade deficit of approximately -$660M, reflecting heavy investment-driven import growth outpacing export revenues.
• The deficit was primarily driven by capital goods and machinery imports for ongoing domestic industrial modernization, with no specific trade policy shifts announced to alter this structural trend in the near term.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Uzbekistan Trade Data

Uzbekistan 2023 Jul Top Trading Products

Uzbekistan Global Trade Core Summary

Uzbekistan’s exports are heavily concentrated in gems and precious metals (HS 71), which account for nearly 50% of total export value. Other key exports include cotton (HS 52), copper (HS 74), and knitted apparel (HS 61), reflecting a mix of raw materials and light manufacturing. Imports, however, are dominated by machinery (HS 84), vehicles (HS 87), and electrical equipment (HS 85), indicating reliance on foreign-made industrial goods. The trade structure shows a clear divide: exports are resource-driven, while imports focus on capital goods and technology. Key takeaways:

• High dependence on gemstone exports poses concentration risks.
• Light manufacturing (apparel, textiles) is a secondary export strength.
• Imports reveal gaps in domestic industrial capacity.

Uzbekistan Export-Import Structural Gap

Uzbekistan’s trade gap highlights an economy exporting raw materials (gems, cotton, copper) but importing finished machinery, vehicles, and high-tech goods. The lack of overlap in top HS codes suggests limited processing trade or value-added production. For example, while the country exports cotton (HS 52), it imports little textile machinery, indicating missed opportunities for vertical integration. The import-heavy reliance on industrial equipment signals a need for domestic manufacturing upgrades. This structure positions Uzbekistan as a supplier of primary goods rather than a competitive industrial player.

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

Check Detailed Uzbekistan Trade HS Code Breakdown

Uzbekistan 2023 Jul Top Trading Countries

Uzbekistan Global Trade Key Patterns

Uzbekistan's exports show high concentration, with one destination taking 51.14% of total exports (value: $1.31B). Other key markets include Mainland China (11.63%), Russia (10.73%), and Turkey (7.11%), with Central Asian neighbors like Kyrgyzstan and Kazakhstan also significant. In contrast, imports are more diversified, led by Mainland China (34.89%) and Russia (15.60%), followed by South Korea (7.54%) and Kazakhstan (5.59%). Regional trade dominates exports, while imports draw from a broader global base, including Europe (France, Germany) and Asia (India, UAE).

Key takeaways:

• Export concentration: Over half of exports go to a single market.
• Import diversification: Top suppliers span Asia, Europe, and the Middle East.
• Regional focus: Exports lean heavily on neighboring Central Asian countries.
• China-Russia dominance: Both are top partners for imports and exports.

Uzbekistan Export–Import Geographic Gap

Exports are heavily concentrated, while imports come from a wider range of suppliers. Overlapping trade partners (China, Russia, Kazakhstan, Turkey) suggest processing trade or re-export activity. The structure indicates upstream dependency—Uzbekistan relies on diversified sources for imports—but downstream reliance on a few key buyers for exports. The gap highlights a potential vulnerability in export markets versus more stable import sourcing. Trade ties remain regional for exports but global for imports.

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 Jul?

Uzbekistan's top exports in July 2023 were natural or cultured pearls, precious or semi-precious stones (49.75% of total exports, $1.27B), followed by cotton (5.96%, $152.55M) and copper articles (4.98%, $127.27M).

What are the main products Uzbekistan imports in 2023 Jul?

The country primarily imported nuclear reactors and machinery (17.45%, $561.85M), vehicles (16.18%, $520.93M), and electrical machinery (8.64%, $277.99M) in July 2023.

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

Mainland China received 34.89% ($1.12B) of Uzbekistan's exports, followed by Russia (15.60%, $502.15M) and South Korea (7.54%, $242.80M).

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

A significant portion of Uzbekistan's imports (51.14%, $1.31B) had no specified origin, while Mainland China (11.63%, $297.54M) and Russia (10.73%, $274.53M) were the top identified suppliers.

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

Uzbekistan had a $660M trade deficit in July 2023, with imports ($3.22B) growing 58.4% YoY and exports ($2.56B) surging 162.3% YoY, reflecting imbalanced demand for foreign capital goods.