2024 Aug Uzbekistan Global Trade Data Summary: Exports Surge 83.6%

Uzbekistan 2024 Aug Trade Data Key Takeaways

• Market Trend: Uzbekistan trade data shows exports surging 83.6% YoY, narrowing deficit to $1.03B amid import contraction.
• Key Driver: Uzbekistan import export data reveals gems/metals (HS 71) dominate exports (41.6%), while machinery (HS 84) leads imports (17.8%).
• Strategic Risk: Overreliance on raw material exports and China/Russia imports exposes volatility risks.

Analysis covers 2024 Aug based on sanitized customs records from the yTrade database.

Uzbekistan 2024 Aug Trade Data Trend Overview

• Uzbekistan, a rapidly reforming Central Asian economy, posted robust August 2024 Uzbekistan global trade data with total flows reaching $4.85 billion, signaling its accelerating integration into global supply chains.
• The latest Uzbekistan import export data reveals a surge in outbound shipments, with exports climbing 83.6% year-on-year to $1.91 billion, while imports contracted 11.1% to $2.94 billion, reflecting a strategic rebalancing.
• This divergent performance sharply narrowed the trade deficit to $1.03 billion, marking a significant improvement from previous periods and underscoring the effectiveness of recent pro-export policy shifts.
• The export boom is largely driven by the government's aggressive trade facilitation agenda, including the implementation of its National Trade Facilitation Roadmap aimed at streamlining procedures and boosting regional trade [UNECE].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Uzbekistan Trade Data

Uzbekistan 2024 Aug Top Trading Products

Uzbekistan Global Trade Core Summary

Uzbekistan’s exports are heavily concentrated in raw materials and low-value-added goods, with gems and precious metals (HS 71) dominating at 41.6% of total exports. Other key exports include mineral fuels (7.2%), copper (6.8%), and cotton (5.5%), reinforcing a resource-driven trade profile. In contrast, imports are dominated by machinery (HS 84, 17.8%) and electrical equipment (HS 85, 10.9%), indicating reliance on foreign manufacturing and industrial inputs. The trade structure shows minimal overlap, with only HS 27 (mineral fuels) and HS 85 (electrical machinery) appearing in both top 10 lists.

Key takeaways:

• Heavy dependence on gemstone and metal exports poses volatility risks.
• Imports are machinery-heavy, suggesting limited domestic industrial capacity.
• Low export diversification increases vulnerability to commodity price swings.

Uzbekistan Export-Import Structural Gap

Uzbekistan exports raw materials (gems, fuels, cotton) but imports high-value machinery and equipment, highlighting a classic resource-dependent economy. The lack of significant HS code overlap (only 2 shared codes) indicates minimal processing trade. The import of vehicles (HS 87) and aircraft (HS 88) suggests infrastructure development needs, while pharmaceutical imports (HS 30) point to gaps in domestic healthcare production. This imbalance signals opportunities for industrial upgrading, particularly in manufacturing and value-added processing of raw exports.

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

Check Detailed Uzbekistan Trade HS Code Breakdown

Uzbekistan 2024 Aug Top Trading Countries

Uzbekistan Global Trade Key Patterns

Uzbekistan's exports show high concentration, with one unnamed destination accounting for 49.4% of total exports ($941.3M). Other key export markets are Russia (14.75%, $281.03M), Kazakhstan (6.22%, $118.5M), and Mainland China (5.91%, $112.7M), indicating regional reliance. Imports are more diversified but still dominated by Mainland China (32.84%, $966.32M) and Russia (20.02%, $588.97M), with smaller shares from Kazakhstan (7.46%) and Turkey (5.61%).

Key takeaways:

• Exports are heavily concentrated, with one market taking nearly half.
• Imports rely on China and Russia for over half of total inflows.
• Regional neighbors (Kazakhstan, Turkey) feature in both export and import flows.

Uzbekistan Export–Import Geographic Gap

Exports are narrowly focused, while imports are more diversified but still dependent on two major suppliers (China, Russia). Overlapping trade partners (Russia, Kazakhstan, Turkey) suggest regional processing trade. The structure shows upstream dependency (imports concentrated) and downstream diversification (exports spread beyond immediate neighbors). This points to a reliance on key suppliers for inputs while exporting to a mix of regional and global markets.

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 2024 Aug?

The top exports include natural or cultured pearls (41.62%, $793.08M), mineral fuels (7.20%, $137.29M), and copper articles (6.84%, $130.31M), based on HS code data.

What are the main products Uzbekistan imports in 2024 Aug?

Key imports are nuclear reactors/machinery (17.76%, $522.51M), electrical equipment (10.88%, $320.06M), and mineral fuels (10.29%, $302.79M), per HS code analysis.

Which countries are the top destinations for Uzbekistan's exports in 2024 Aug?

Mainland China (32.84%, $966.32M), Russia (20.02%, $588.97M), and Kazakhstan (7.46%, $219.58M) lead as export destinations, according to trade data.

Which countries supply most of Uzbekistan's imports in 2024 Aug?

Russia (14.75%, $281.03M), Kazakhstan (6.22%, $118.50M), and Mainland China (5.91%, $112.70M) are the primary import origins, as per country-level statistics.

How balanced are Uzbekistan's export and import markets in 2024 Aug?

Uzbekistan's trade deficit narrowed sharply to $1.03B, with exports surging 83.6% YoY to $1.91B and imports declining 11.1% to $2.94B, reflecting strategic rebalancing efforts.