2023 May Uzbekistan Global Trade Data Summary: Surge & Deficit

Uzbekistan 2023 May Trade Data Key Takeaways

• Market Trend: Uzbekistan trade data shows exports surged 150.7% YoY in May 2023, but a $770M deficit widened on rising imports.
• Key Driver: Uzbekistan import export data reveals gems (HS 71) dominate exports (55%), while machinery (HS 84) leads imports (30%).
• Strategic Risk: Extreme export concentration (61% to one market) heightens vulnerability to demand shocks.

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

Uzbekistan 2023 May Trade Data Trend Overview

• Uzbekistan, a major Central Asian energy and commodity exporter, posted robust trade expansion in May 2023 according to the latest Uzbekistan global trade data.
• The May Uzbekistan import export data shows exports surged 150.7% year-on-year to $2.51B, while imports grew 73.7% to $3.28B, reflecting strong demand for capital goods and raw materials.
• The widening import bill drove a trade deficit of approximately $770M for the month.
• Growth was likely driven by sustained high global prices for key exports like gold, natural gas, and cotton, alongside continued investment in domestic industrial capacity, with no major trade policy shifts announced during the period.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Uzbekistan 2023 May Top Trading Products

Uzbekistan Global Trade Core Summary

Uzbekistan's exports are heavily concentrated in gems and precious metals (HS 71), making up 55% of total exports. Other key exports include mineral fuels (HS 27), cotton (HS 52), and apparel (HS 61), showing a mix of raw materials and light manufacturing. Imports are dominated by machinery (HS 84) and vehicles (HS 87), accounting for over 30% of imports, alongside fuel (HS 27) and electrical equipment (HS 85). This suggests a reliance on imported industrial goods and energy. Key takeaways:

• High dependence on gem exports poses volatility risks.
• Light manufacturing (apparel, cotton) is a secondary export strength.
• Imports focus on machinery and fuel, indicating industrial and energy needs.

Uzbekistan Export-Import Structural Gap

Uzbekistan exports raw materials (gems, cotton, fuels) and low-value-added goods (apparel), while imports are machinery and vehicles for industrial use. The lack of overlap in top HS codes shows minimal processing trade—exports aren’t feeding into higher-value imports. The gap highlights an opportunity to move up the value chain, such as processing cotton into textiles domestically instead of exporting raw cotton. Energy imports (HS 27) also reveal a need for fuel despite domestic production. The trade structure leans toward a resource-driven economy with growing industrial demands.

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

Check Detailed Uzbekistan Trade HS Code Breakdown

Uzbekistan 2023 May Top Trading Countries

Uzbekistan Global Trade Key Patterns

Uzbekistan's exports show extreme concentration, with 61.27% going to a single unnamed destination, followed by Russia (9.04%) and Mainland China (6.86%). Regional neighbors like Kazakhstan, Kyrgyzstan, and Afghanistan account for smaller shares. Imports are more diversified, led by Mainland China (30.17%) and Russia (20.95%), with significant contributions from Kazakhstan, South Korea, and Turkey. Key takeaways:

• Exports rely heavily on one dominant market, raising vulnerability risks.
• Imports draw from a broader mix of Asian and European suppliers.
• Russia and China are critical partners for both exports and imports.
• Regional Central Asian trade ties remain active but secondary.

Uzbekistan Export–Import Geographic Gap

Uzbekistan faces a clear asymmetry: exports depend on a single buyer, while imports are spread across multiple suppliers. The overlap of Russia, China, and Kazakhstan in both lists suggests some processing trade or re-export activity. Export markets are less globally connected than import sources, which include distant partners like Brazil and Germany. This structure indicates downstream concentration and upstream diversification, with reliance on major economies for inputs. The trade gap highlights potential risks if export demand shifts abruptly.

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

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Frequently Asked Questions

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

Uzbekistan's top exports in May 2023 were natural or cultured pearls and precious stones (55% of total exports, $1.38B), followed by mineral fuels (4.87%, $122.16M) and cotton (4.84%, $121.40M).

What are the main products Uzbekistan imports in 2023 May?

The country primarily imported nuclear reactors and machinery (17.2%, $564.34M), vehicles (14.48%, $475.13M), and mineral fuels (7.8%, $255.90M) in May 2023.

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

Mainland China was the largest export destination (30.17%, $989.78M), followed by Russia (20.95%, $687.23M) and Kazakhstan (8.26%, $270.94M).

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

Uzbekistan sourced most imports from an unspecified country (61.27%, $1.54B), Russia (9.04%, $226.72M), and Mainland China (6.86%, $172.04M).

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

Uzbekistan recorded a trade deficit of $770M in May 2023, with exports growing 150.7% to $2.51B and imports rising 73.7% to $3.28B.