2023 Whole Year Uzbekistan Global Trade Data Summary: Resilient Imports, Widening Deficit

Uzbekistan 2023 Trade Data Key Takeaways

• Market Trend: Uzbekistan trade data shows resilient imports (+30.3% YoY in Dec) widening the deficit to -$17.5B in 2023.
• Key Driver: Uzbekistan import export data reveals gems/metals (41% of exports) vs. machinery/vehicles dominating imports, exposing value-chain gaps.
• Strategic Risk: Export concentration (45% to one market) heightens vulnerability to demand shocks.

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

Uzbekistan 2023 Trade Data Overview

• Uzbekistan, a Central Asian economy transitioning from commodity reliance to manufacturing, closed 2023 with volatile yet resilient Uzbekistan global trade data, defined by sharp monthly swings in export performance against steadily rising imports.
• Full-year Uzbekistan import export data shows exports reached roughly $18.3 billion while imports climbed to approximately $35.8 billion, with December imports surging 30.3% year-on-year, underscoring strong domestic demand for capital goods and consumer products.
• The nation recorded a significant trade deficit of about -$17.5 billion for the year, reflecting heavy investment-led import growth outpacing export earnings.
• Without major trade policy shifts reported, this import strength likely stems from ongoing industrial modernization and infrastructure projects, driving consistent machinery and equipment purchases [Gazeta].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Uzbekistan 2023 Top Trading Products

Uzbekistan Global Trade Core Summary

Uzbekistan's exports are heavily concentrated in raw materials and low-value goods, with gems and precious metals (HS 71) making up 41% of total exports. Cotton (HS 52), copper (HS 74), and knitted apparel (HS 61) are other key exports, showing reliance on agriculture and basic manufacturing. Imports are dominated by machinery (HS 84), vehicles (HS 87), and electrical equipment (HS 85), reflecting a need for industrial inputs. The country imports more high-value goods than it exports, indicating a gap in advanced production capabilities. Key takeaways:

• Heavy dependence on gems/metals exposes trade to price volatility.
• Limited export diversification beyond raw materials.
• High import reliance on machinery and vehicles suggests weak domestic manufacturing.

Uzbekistan Export-Import Structural Gap

Uzbekistan exports mostly raw materials (gems, cotton, copper) but imports machinery, vehicles, and industrial goods. This shows an economy reliant on resource extraction rather than advanced manufacturing. The overlap in mineral fuels (HS 27) for both exports and imports hints at some processing trade, but the overall pattern points to limited value addition. The import-heavy focus on machinery and transport equipment suggests opportunities for industrial upgrading. Without shifting to higher-value exports, the trade gap may persist.

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

Check Detailed Uzbekistan Trade HS Code Breakdown

Uzbekistan 2023 Top Trading Countries

Uzbekistan Global Trade Key Patterns

Uzbekistan's exports show high concentration, with one destination taking 45.16% of total exports, followed by Russia (13.96%) and Mainland China (8.43%). Regional neighbors like Kazakhstan, Turkey, and Afghanistan also feature prominently. In contrast, imports are more diversified, led by Mainland China (30.87%) and Russia (17.62%), with additional suppliers from South Korea, Turkey, and Europe. Key takeaways:

• Exports are heavily reliant on a single market.
• Imports are spread across multiple regions, including Asia, Europe, and South America.
• Trade with Russia and China is significant in both exports and imports.

Uzbekistan Export–Import Geographic Gap

Uzbekistan’s exports are narrowly focused, while imports come from a wider range of countries. The top export destination dominates trade, whereas imports are more balanced among major economies. Russia and China appear in both lists, suggesting some processing trade or re-export activity. The structure indicates upstream dependency on diversified suppliers but downstream reliance on a few key buyers. This gap highlights potential risks in export market concentration.

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 Whole Year?

Uzbekistan's top exports in 2023 were natural or cultured pearls, precious or semi-precious stones (41.12% of exports, $8.34B), followed by cotton (7.73%, $1.57B) and copper articles (5.94%, $1.20B).

What are the main products Uzbekistan imports in 2023 Whole Year?

The country primarily imported nuclear reactors, boilers, and machinery (17.08%, $6.29B), vehicles (13.10%, $4.82B), and electrical machinery (8.70%, $3.21B).

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

Mainland China received 30.87% ($11.37B) of Uzbekistan's exports, followed by Russia (17.62%, $6.49B) and Kazakhstan (8.12%, $2.99B).

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

Uzbekistan sourced 45.16% ($9.16B) of imports from an unspecified origin, with Russia (13.96%, $2.83B) and Mainland China (8.43%, $1.71B) as other key suppliers.

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

Uzbekistan had a significant trade deficit of -$17.5 billion in 2023, with imports ($35.8B) far exceeding exports ($18.3B), driven by industrial modernization and infrastructure projects.