2023 Q3 Uzbekistan Trade Data Summary: Widening Deficit

Uzbekistan 2023 Q3 Trade Data Key Takeaways

• Market Trend: Uzbekistan trade data shows volatile exports (-59% YoY in Sept) amid surging imports (+45% YoY), widening trade deficit.
• Key Driver: Uzbekistan import export data reveals heavy reliance on raw gems/metals (44% exports) vs. machinery/tech imports (42%).
• Strategic Risk: Export concentration in few regional markets (Russia, China) heightens exposure to commodity price swings.

Analysis covers 2023 Q3 based on sanitized customs records from the yTrade database.

Uzbekistan 2023 Q3 Trade Data Trend Overview

• Uzbekistan, a major Central Asian producer of natural gas, gold, and cotton, saw its Q3 2023 Uzbekistan global trade data reflect a quarter of significant export volatility against a backdrop of robust import demand.
• The nation's Uzbekistan import export data shows exports surged 59% year-on-year in September to $974.17M, though this capped a quarter where they fell sharply from a July peak; imports grew 45% YoY in September, reaching $3.17B.
• This import strength resulted in a substantial quarterly trade deficit, as high inbound shipments of machinery and equipment outpaced export earnings.
• The export volatility was likely driven by fluctuating global commodity prices for Uzbekistan's key natural resource shipments, while strong capital goods imports point to continued domestic industrial investment.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Uzbekistan Trade Data

Uzbekistan 2023 Q3 Top Trading Products

Uzbekistan Global Trade Core Summary

Uzbekistan's exports are heavily resource-driven, with gems, metals, and cotton making up nearly 44% of total exports. Key exports include pearls/precious stones (28.4%), cotton (8.3%), and copper (7.1%), showing reliance on raw materials. Apparel and knitted goods (6.2%) indicate some light manufacturing. Imports are dominated by machinery (18.3%), vehicles (14.1%), and electrical equipment (9.6%), highlighting dependence on industrial equipment and technology. Mineral fuels are both exported (5.3%) and imported (6.4%), suggesting energy trade balance issues.

Key Takeaways:

• High export concentration in gems/metals poses price volatility risks.
• Light manufacturing (apparel) lacks depth compared to machinery imports.
• Energy exports/imports hint at refining or distribution gaps.

Uzbekistan Export-Import Structural Gap

Uzbekistan sells raw materials (gems, cotton, copper) but buys finished machinery, vehicles, and tech—a classic developing economy trade pattern. The overlap in mineral fuels (exports and imports) may indicate unprocessed fuel exports versus refined product imports. Limited high-value exports (only 3% machinery) versus 42% machinery/vehicle imports shows an industrial upgrade need. The absence of advanced exports in the top 10 confirms reliance on basic commodities. This gap suggests untapped potential in local manufacturing or processing to capture more value.

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

Check Detailed Uzbekistan Trade HS Code Breakdown

Uzbekistan 2023 Q3 Top Trading Countries

Uzbekistan Global Trade Key Patterns

Uzbekistan’s exports are highly concentrated, with the top destination (unnamed) accounting for 30.9% of total exports, followed by Russia (18%) and Mainland China (12.5%). Regional neighbors like Kazakhstan, Afghanistan, and Kyrgyzstan also feature prominently, indicating a strong Central Asian focus. Imports, however, are more diversified, led by Mainland China (34.1%) and Russia (16%), but with significant contributions from South Korea, Kazakhstan, and Turkey. Key takeaways:

• Exports rely heavily on a few markets, while imports are spread across more suppliers.
• Regional trade dominates exports, especially with Russia and Central Asian partners.
• Mainland China and Russia are critical for both imports and exports.

Uzbekistan Export–Import Geographic Gap

Uzbekistan’s exports are regionally concentrated, while imports draw from a broader global base, including East Asia (South Korea), Europe (Germany, France), and South America (Brazil). The overlap of Mainland China, Russia, and Kazakhstan in both lists suggests processing trade or re-export activity. The structure shows upstream dependency on diversified suppliers but downstream reliance on fewer buyers. This gap highlights potential vulnerability in export markets and resilience in import sourcing.

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 Q3?

The top exports from Uzbekistan in Q3 2023 were natural/cultured pearls and precious stones (28.38% of exports), cotton (8.25%), and copper articles (7.08%), as shown in the HS code data.

What are the main products Uzbekistan imports in 2023 Q3?

Uzbekistan's primary imports included nuclear reactors and machinery (18.29% of imports), vehicles (14.08%), and electrical machinery (9.56%), according to HS code breakdowns.

Which countries are the top destinations for Uzbekistan's exports in 2023 Q3?

Mainland China received 34.05% of Uzbekistan's exports, followed by Russia (15.96%) and Kazakhstan (6.68%), per the country trade data.

Which countries supply most of Uzbekistan's imports in 2023 Q3?

Russia (18.04%), Mainland China (12.48%), and Turkey (8.15%) were the leading import sources for Uzbekistan in Q3 2023, based on origin country statistics.

How balanced are Uzbekistan's export and import markets in 2023 Q3?

Uzbekistan faced a significant trade deficit in Q3 2023, with imports growing 45% YoY to $3.17B in September while exports showed volatile performance, peaking in July before declining.

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