2023 Mar Uzbekistan Global Trade Data Summary: Surge & Deficit

Uzbekistan 2023 Mar Trade Data Key Takeaways

• Market Trend: Uzbekistan trade data shows exports surged 47.6% YoY to $2.15B, widening deficit to $960M in Mar 2023.
• Key Driver: Uzbekistan import export data reveals gems/metals dominate exports (57% share), while machinery/fuel drive imports (45% combined).
• Strategic Risk: Hyper-concentrated exports (59.5% to one market) and import reliance on China/Russia expose dual dependency risks.

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

Uzbekistan 2023 Mar Trade Data Trend Overview

• Uzbekistan, a Central Asian economy diversifying beyond commodity exports, posted strong trade growth in March 2023, according to the latest Uzbekistan global trade data.
• The country’s Uzbekistan import export data showed exports surged 47.6% year-on-year to $2.15 billion, while imports rose 23.3% to $3.11 billion, reflecting robust demand for capital goods and intermediate products.
• This resulted in a trade deficit of $960 million for the month, widening from year-earlier levels as import growth outpaced export expansion.
• The export boom was likely driven by higher shipments of gold, natural gas, and copper, key traditional exports, though no specific policy announcements or external shocks were reported during the period.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Uzbekistan Trade Data

Uzbekistan 2023 Mar Top Trading Products

Uzbekistan Global Trade Core Summary

Uzbekistan’s exports are heavily concentrated in gems and precious metals (57% share), with cotton, copper, and apparel as secondary products. This suggests a resource-driven export economy with limited manufacturing depth. Imports are dominated by machinery, vehicles, and fuel, reflecting reliance on foreign equipment and energy. The top three imports (machinery, vehicles, fuel) account for 45% of total imports, indicating high dependence on industrial inputs. Key takeaways:

• High export reliance on gems/metals creates vulnerability to price swings.
• Low-value-added exports (cotton, copper) limit income potential.
• Imports reveal industrial gaps, especially in machinery and energy.

Uzbekistan Export-Import Structural Gap

Uzbekistan exports raw materials (gems, cotton, copper) but imports finished goods (machinery, vehicles), highlighting an underdeveloped manufacturing sector. The overlap in HS codes like fuel (exported and imported) suggests inefficiencies in energy processing. The lack of high-tech exports alongside machinery-heavy imports points to missed industrial upgrading opportunities. To reduce dependency, Uzbekistan could focus on local processing of cotton or copper before export. The trade gap shows a clear need for investment in value-added production.

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

Check Detailed Uzbekistan Trade HS Code Breakdown

Uzbekistan 2023 Mar Top Trading Countries

Uzbekistan Global Trade Key Patterns

Uzbekistan's exports show extreme concentration, with 59.5% going to a single unnamed destination, likely reflecting a dominant commodity or processing trade. Other key export markets are regional: Turkey (6.3%), Russia (5.9%), and Central Asian neighbors (Kazakhstan, Afghanistan, Kyrgyzstan). Imports are more diversified but still rely heavily on Mainland China (26.8%) and Russia (20.7%), followed by South Korea and regional suppliers. The trade structure reveals a clear regional focus, with Central Asia, Russia, and China dominating both flows.

• Exports are hyper-concentrated in one market
• Imports depend heavily on China and Russia
• Strong regional trade ties with Central Asia
• Limited diversification in both directions

Uzbekistan Export–Import Geographic Gap

Uzbekistan’s exports are lopsided (one dominant buyer) while imports are somewhat more spread out, though still reliant on two key suppliers. Both exports and imports overlap with Russia, Kazakhstan, and Turkey, suggesting processing trade or re-export activity. The structure points to upstream dependency (imports from China/Russia) and downstream risk (export concentration). Trade remains regional, with no major Western markets in the top 10 for either exports or 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 Mar?

Uzbekistan's top exports in March 2023 were natural or cultured pearls and precious stones (57.11% of exports, $1.23B), cotton (6.23%, $134.24M), and copper (4.98%, $107.24M), based on HS code data.

What are the main products Uzbekistan imports in 2023 Mar?

The country primarily imported nuclear reactors and machinery (17.84%, $554.88M), vehicles (14.14%, $439.87M), and mineral fuels (13.05%, $405.96M) during this period.

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

Mainland China was the largest export destination (26.80%, $833.77M), followed by Russia (20.65%, $642.46M) and South Korea (8.87%, $276.05M).

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

Uzbekistan sourced most imports from an unspecified country (59.46%, $1.28B), Turkey (6.33%, $136.37M), and Russia (5.90%, $127.02M).

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

Uzbekistan had a $960M trade deficit in March 2023, with imports ($3.11B, +23.3% YoY) outpacing exports ($2.15B, +47.6% YoY), driven by demand for capital goods and intermediate products.