2023 Q2 Uzbekistan Global Trade Data Summary: Export Surge & Deficit Risk

Uzbekistan 2023 Q2 Trade Data Key Takeaways

• Market Trend: Uzbekistan trade data shows volatile Q2 2023 swings, with exports surging 68.5% YoY but imports widening the deficit to -$1.0B in June.
• Key Driver: Uzbekistan import export data reveals gems/metals (39% of exports) and machinery (18% of imports) dominate trade flows.
• Strategic Risk: Over 50% export concentration in one market heightens vulnerability to price shocks and demand shifts.

Analysis covers 2023 Q2 based on sanitized customs records from the yTrade database.

Uzbekistan 2023 Q2 Trade Data Trend Overview

• Uzbekistan, a Central Asian energy and commodity exporter, posted volatile Q2 2023 Uzbekistan global trade data, reflecting its role as a supplier of raw materials and an importer of manufactured goods and machinery.
• The latest Uzbekistan import export data shows exports surged 68.5% year-on-year in June to $1.13B, while imports rose 21.8% to $2.10B, though both flows saw sharp monthly swings including a 54.8% MoM export drop in June.
• This resulted in a quarterly trade deficit, with a particularly large shortfall of nearly -$1.0B in June alone, underscoring persistent import dependency despite export growth.
• The volatility was likely driven by fluctuating global prices for key exports like gold, natural gas, and cotton, as well as seasonal import patterns for equipment and consumer goods, with no major trade policy shifts reported during the quarter.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Uzbekistan Trade Data

Uzbekistan 2023 Q2 Top Trading Products

Uzbekistan Global Trade Core Summary

Uzbekistan's exports are heavily concentrated in raw materials and semi-processed goods, with gems and precious metals (HS 71) making up 39% of total exports. Other key exports include cotton (7%), mineral fuels (7%), and copper (6%), showing a strong reliance on natural resources. Apparel and edible produce add some diversity but remain minor. Imports are dominated by machinery (HS 84, 18%) and vehicles (HS 87, 14%), reflecting a need for industrial and transportation equipment. Fuel, electrical machinery, and steel are also major imports, indicating gaps in domestic manufacturing.

Key Takeaways:

• High export dependence on gems/metals and cotton poses price volatility risks.
• Imports reveal a lack of advanced manufacturing capacity.
• Limited export diversification beyond raw materials.

Uzbekistan Export-Import Structural Gap

Uzbekistan’s trade shows a clear divide: it exports raw materials (gems, cotton, fuels) but imports finished machinery, vehicles, and industrial goods. The overlap in mineral fuels (HS 27) as both an export and import suggests some processing but not deep value addition. The heavy machinery imports highlight an opportunity to develop domestic manufacturing, especially in metals (copper exports vs. steel/iron imports). The lack of high-value exports beyond gems underscores the need for industrial upgrading to reduce reliance on volatile commodity markets.

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

Check Detailed Uzbekistan Trade HS Code Breakdown

Uzbekistan 2023 Q2 Top Trading Countries

Uzbekistan Global Trade Key Patterns

Uzbekistan's exports show high concentration, with one destination taking nearly 50% of total exports, followed by Russia (12.6%) and Mainland China (9.5%). The top 10 export markets are mostly regional, including Central Asian neighbors (Kazakhstan, Kyrgyzstan, Tajikistan) and nearby countries (Turkey, Afghanistan, Iran, Pakistan). In contrast, imports are more diversified, led by Mainland China (29.5%), Russia (18.8%), and Kazakhstan (8.8%), with additional suppliers from East Asia (South Korea), Europe (Germany, Lithuania), and South America (Brazil).

• Exports: Highly concentrated, with one dominant market and strong regional focus.
• Imports: More diversified, with key suppliers in Asia, Europe, and beyond.
• Trade gap: Heavy reliance on a single export destination vs. broader import sourcing.

Uzbekistan Export–Import Geographic Gap

Uzbekistan’s exports are heavily skewed toward one major partner, while imports come from a wider range of countries, including global suppliers like Germany and Brazil. The overlap in key partners (Russia, China, Kazakhstan, Turkey) suggests some processing trade or regional supply chain links. The structure indicates upstream diversification (imports) but downstream concentration (exports), with exports leaning regional and imports drawing from global markets. This gap highlights potential vulnerability in export dependence.

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 Q2?

The top exports were natural or cultured pearls, precious or semi-precious stones (39.08% of exports, $2.05B), cotton (7.14%, $374.51M), and mineral fuels (6.76%, $354.36M), based on HS code data.

What are the main products Uzbekistan imports in 2023 Q2?

Key imports included nuclear reactors and machinery (17.62%, $1.42B), vehicles (14.42%, $1.16B), and mineral fuels (6.79%, $547.78M), per HS code analysis.

Which countries are the top destinations for Uzbekistan's exports in 2023 Q2?

Mainland China received 29.45% ($2.38B) of exports, followed by Russia (18.76%, $1.51B) and Kazakhstan (8.79%, $708.90M), according to country trade data.

Which countries supply most of Uzbekistan's imports in 2023 Q2?

Russia was the largest import source (12.58%, $659.97M), trailed by Mainland China (9.47%, $496.47M) and Kazakhstan (7.17%, $376.23M), as per country-level statistics.

How balanced are Uzbekistan's export and import markets in 2023 Q2?

Uzbekistan had a quarterly trade deficit, with June alone showing a -$1.0B shortfall due to 68.5% export growth ($1.13B) outpaced by 21.8% import growth ($2.10B), reflecting persistent import dependency.

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