2023 Oct Uzbekistan Global Trade Data Summary: Export Surge & Risks

Uzbekistan 2023 Oct Trade Data Key Takeaways

• Market Trend: Uzbekistan trade data shows exports surged 145.7% YoY to $2.32B, driven by gold and natural gas price spikes.
• Key Driver: Uzbekistan import export data reveals 53% export reliance on gems/metals (HS 71), with 55% going to a single unnamed buyer.
• Strategic Risk: Extreme export concentration and raw-material dependency expose economy to price volatility and supply chain shocks.

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

Uzbekistan 2023 Oct Trade Data Trend Overview

• Uzbekistan, a major Central Asian exporter of natural gas, gold, and cotton, posted robust October 2023 global trade data, highlighting its role as a key regional commodity supplier.
• The country's import export data showed exports surging 145.7% year-on-year to $2.32 billion, while imports grew 37.0% to $3.32 billion, reflecting strong demand for both inbound capital goods and outbound raw materials.
• This resulted in a trade deficit of $1.0 billion for the month, as import growth in value terms continued to outpace exports despite the latter’s sharp annual increase.
• The export spike was likely driven by elevated global prices for gold and natural gas, alongside recovering external demand, though no specific policy announcements or trade developments were reported during the period.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Uzbekistan Trade Data

Uzbekistan 2023 Oct Top Trading Products

Uzbekistan Global Trade Core Summary

Uzbekistan's exports are heavily concentrated in gems and precious metals (HS 71), which account for 53% of total exports. Other key exports include cotton (6%), knitted apparel (5%), and copper (4%). The export structure shows a reliance on raw materials and low-value-added goods, with limited diversification. Imports are dominated by machinery (HS 84, 17%) and electrical equipment (HS 85, 12%), along with vehicles (HS 87, 12%) and iron/steel (6%). This suggests a need for industrial inputs and technology.

Key takeaways:

• High dependence on gems/metals exposes Uzbekistan to price volatility.
• Limited export diversification beyond raw materials.
• Heavy reliance on imported machinery and equipment for industrial needs.

Uzbekistan Export-Import Structural Gap

Uzbekistan exports mostly raw materials (gems, cotton, copper) while importing machinery, vehicles, and industrial goods. This gap highlights an economy reliant on resource extraction but lacking advanced manufacturing capacity. The overlap in HS 27 (mineral fuels) and HS 88 (aircraft) suggests some processing trade, but the overall pattern points to a need for industrial upgrading. The import-heavy machinery sector indicates potential for local production development. The trade structure shows a classic resource-driven economy with limited value-added exports.

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

Check Detailed Uzbekistan Trade HS Code Breakdown

Uzbekistan 2023 Oct Top Trading Countries

Uzbekistan Global Trade Key Patterns

Uzbekistan's exports show extreme concentration, with 55% going to a single unnamed destination. Russia (12.5%) and Mainland China (5.6%) are secondary markets, followed by neighboring Central Asian states like Kazakhstan (4.9%) and Kyrgyzstan (1.9%). Imports are more diversified but still reliant on Mainland China (35.9%) and Russia (16.5%), with Kazakhstan (7.8%) and South Korea (5.2%) as other key suppliers.

• Exports: Hyper-concentrated (top buyer takes 55%), regional Central Asian focus
• Imports: Moderate diversification but still China/Russia-dependent
• Trade gap: Heavy single-market export risk vs. broader import sourcing
• Regional ties: Strong Central Asian trade links in both directions

Uzbekistan Export–Import Geographic Gap

Uzbekistan faces a structural imbalance: exports depend dangerously on one buyer, while imports spread risk across more suppliers. Both flows share key partners (China, Russia, Kazakhstan), suggesting processing trade elements. The export geography is narrower and more regional compared to imports, which tap into European and East Asian suppliers. This points to upstream diversification but downstream vulnerability in trade strategy.

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 Oct?

Uzbekistan's top exports in October 2023 were natural/cultured pearls and precious stones (53.26% of exports, $1.23B), cotton (6.07%, $140.69M), and apparel/knitted clothing (4.89%, $113.44M), based on HS code data.

What are the main products Uzbekistan imports in 2023 Oct?

The country primarily imported nuclear reactors/machinery (16.91%, $561.63M), electrical machinery (11.67%, $387.66M), and vehicles (11.52%, $382.78M), according to HS code classifications.

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

Mainland China received 35.85% ($1.19B) of Uzbekistan's exports, followed by Russia (16.46%, $546.69M) and Kazakhstan (7.76%, $257.91M), per trade data.

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

Russia was the largest import source (12.54%, $290.68M), trailed by Mainland China (5.58%, $129.30M) and Kazakhstan (4.90%, $113.63M), as per origin country statistics.

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

Uzbekistan had a $1.0 billion trade deficit, with exports surging 145.7% YoY to $2.32B but imports growing 37.0% to $3.32B, reflecting stronger demand for inbound capital goods than outbound raw materials.