2023 Nov Uzbekistan Trade Data Summary: Surge & Deficit

Uzbekistan 2023 Nov Trade Data Key Takeaways

• Market Trend: Uzbekistan trade data shows exports surged 57.9% YoY to $2.43B, but imports grew faster, widening the deficit to $970M.
• Key Driver: Uzbekistan import export data reveals gems/metals (HS 71) dominate exports (55%), while machinery (HS 84) leads imports (17%).
• Strategic Risk: Export concentration in raw materials and single-market reliance heightens vulnerability to commodity swings.

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

Uzbekistan 2023 Nov Trade Data Trend Overview

• Uzbekistan, a Central Asian energy and commodity exporter, saw its November 2023 Uzbekistan global trade data reflect a strong export expansion amid robust import demand.
• The latest Uzbekistan import export data shows exports surged 57.9% year-on-year to $2.43B, while imports grew 23.3% to $3.40B, indicating sustained investment and consumption activity.
• This resulted in a monthly trade deficit of $970M, widening from the year-earlier period as import growth continued to outpace the expansion in export earnings.
• The export acceleration was likely driven by firm global prices for key shipments like gold, natural gas, and cotton, while imports were supported by capital goods and machinery inflows for domestic infrastructure development.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Uzbekistan Trade Data

Uzbekistan 2023 Nov 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 cotton (6%), mineral fuels (4%), and vegetables (4%). The export structure leans toward raw materials and low-value-added goods, with limited manufacturing presence. Imports are dominated by machinery (HS 84, 17%), vehicles (HS 87, 14%), and electrical equipment (HS 85, 11%), reflecting reliance on industrial and consumer goods.

Key takeaways:

• High dependence on gems/metals exposes Uzbekistan to commodity price swings.
• Cotton and minerals form secondary export pillars but lack diversification.
• Imports reveal a need for machinery and technology to support domestic production.

Uzbekistan Export-Import Structural Gap

Uzbekistan exports raw materials (gems, cotton, fuels) but imports high-value machinery, vehicles, and electronics. This gap shows an economy reliant on resource extraction while needing foreign equipment for modernization. Overlap in HS 27 (mineral fuels) and HS 87 (vehicles) suggests some processing trade, but the scale is limited. The import-heavy machinery sector highlights opportunities for industrial upgrading to reduce dependency. The trade pattern fits a developing economy transitioning from raw exports to more complex production.

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

Check Detailed Uzbekistan Trade HS Code Breakdown

Uzbekistan 2023 Nov Top Trading Countries

Uzbekistan Global Trade Key Patterns

Uzbekistan's exports show high concentration, with one destination taking 56.2% of total exports, followed by Russia (11.7%) and Mainland China (7.6%). Imports are more diversified, led by Mainland China (36.2%), Russia (16.8%), and Kazakhstan (8.4%). Regional trade dominates, with Central Asia (Kazakhstan, Afghanistan, Kyrgyzstan, Tajikistan) and Russia as key partners. The export structure leans heavily on a single market, while imports rely on multiple suppliers. Key takeaways:

• Exports are highly concentrated, with one dominant destination.
• Imports are more balanced, with China as the top but not overwhelming supplier.
• Regional trade is strong, especially with Russia and neighboring Central Asian countries.
• Asymmetry exists, with exports dependent on few markets and imports spread across more sources.

Uzbekistan Export–Import Geographic Gap

Exports are heavily skewed toward one market, while imports come from a broader set of suppliers. Both exports and imports involve Russia, China, and Kazakhstan, suggesting some processing trade. The structure indicates upstream dependency (imports from diversified sources) and downstream concentration (exports to few buyers). Trade ties are regional, with Central Asia and Russia playing major roles. The gap highlights Uzbekistan’s reliance on a narrow export base despite diversified import needs.

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 Nov?

The top exports were natural or cultured pearls, precious or semi-precious stones (54.92% share, $1.34B), cotton (6.00%, $145.94M), and mineral fuels/oils (4.19%, $101.92M), based on HS code data.

What are the main products Uzbekistan imports in 2023 Nov?

Key imports included nuclear reactors/machinery (17.03% share, $578.64M), vehicles (13.84%, $470.21M), and electrical machinery (10.84%, $368.24M), per HS code analysis.

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

Mainland China received 36.21% ($1.23B) of exports, followed by Russia (16.83%, $571.64M) and Kazakhstan (8.39%, $285.00M), according to trade data.

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

Russia was the largest import source (11.73%, $285.12M), trailed by Mainland China (7.59%, $184.55M) and Kazakhstan (4.29%, $104.32M), as per country-level statistics.

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

Uzbekistan had a $970M trade deficit, with exports growing 57.9% to $2.43B and imports rising 23.3% to $3.40B, driven by commodity exports and machinery imports.