2024 Dec Uzbekistan Trade Data Summary: Export Boom

Uzbekistan 2024 Dec Trade Data Key Takeaways

• Market Trend: Uzbekistan trade data shows exports surged 92.8% in Dec 2024, narrowing the deficit to $1.49B.
• Key Driver: Uzbekistan import export data reveals gems/metals (HS 71) dominate exports (45.9%), while machinery (HS 84) leads imports (18.24%).
• Strategic Risk: Extreme export concentration (52.76% to one buyer) exposes trade to downstream volatility.

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

Uzbekistan 2024 Dec Trade Data Trend Overview

• Uzbekistan, a Central Asian industrializing economy, posted a dramatic export surge in its December 2024 Uzbekistan global trade data, reflecting its expanding role in regional supply chains.
• The latest Uzbekistan import export data shows exports jumped 92.8% year-on-year to $1.87 billion, while imports fell 10.5% to $3.36 billion, indicating a sharp rebalancing of trade flows.
• This performance narrowed the nation's trade deficit to $1.49 billion for the period, a significant improvement driven by the dual forces of soaring outbound shipments and reduced foreign purchases.
• The export boom, absent any specific policy announcements, was likely fueled by sustained external demand for key Uzbek commodities like gold, natural gas, and industrial metals.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Uzbekistan Trade Data

Uzbekistan 2024 Dec Top Trading Products

Uzbekistan Global Trade Core Summary

Uzbekistan's exports are heavily concentrated in raw materials and low-processed goods, with gems and precious metals (HS 71) making up 45.9% of total exports. Other key exports include cotton (5.5%), mineral fuels (5.23%), and copper (3.96%). The import structure is dominated by machinery (HS 84, 18.24%), vehicles (HS 87, 11.45%), and electrical equipment (HS 85, 9.4%), reflecting a reliance on foreign-made industrial goods. The trade pattern shows a resource-driven export economy with limited high-value manufacturing. Key takeaways:

• High dependence on gems/metals exposes trade to price volatility.
• Cotton and minerals remain critical but low-value export sectors.
• Imports reveal a need for machinery and technology to support industry.

Uzbekistan Export-Import Structural Gap

Uzbekistan exports raw materials (gems, cotton, fuels) but imports machinery, vehicles, and electronics—a classic resource economy gap. The overlap in HS 87 (vehicles) shows some local assembly, but imports far exceed exports, indicating reliance on foreign auto parts. The lack of high-value exports suggests limited industrial upgrading. To reduce import dependence, Uzbekistan could focus on processing raw materials domestically, such as refining copper or producing textiles from cotton. The trade data highlights an opportunity to move up the value chain.

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

Check Detailed Uzbekistan Trade HS Code Breakdown

Uzbekistan 2024 Dec Top Trading Countries

Uzbekistan Global Trade Key Patterns

Uzbekistan's exports show extreme concentration, with one unnamed destination taking 52.76% of total exports ($983.99M). Other key markets are regional: Russia (11.56%), Kazakhstan (5.99%), and Afghanistan (5.70%). Imports are more diversified but still rely heavily on Mainland China (31.07%) and Russia (19.54%), with regional neighbors like Kazakhstan (8.06%) and Turkey (3.71%) playing smaller roles. Key asymmetries:

• Exports depend on one dominant buyer, while imports spread across multiple suppliers.
• Regional trade dominates both flows, with Central Asia and Russia as core partners.
• China is a top import source but a minor export destination (4.47%).

Uzbekistan Export–Import Geographic Gap

Exports are hyper-concentrated (one buyer dominates), while imports show moderate diversification. Both flows center on regional partners, but imports include distant suppliers like South Korea, Germany, and Finland. Russia and Kazakhstan appear in both lists, suggesting some processing trade. The structure implies downstream vulnerability (reliance on a single export market) and upstream flexibility (multiple import sources). Trade remains strongly tied to neighboring economies.

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 Dec?

Uzbekistan's top exports in December 2024 were natural or cultured pearls, precious or semi-precious stones (45.90% of total exports), cotton (5.50%), and mineral fuels (5.23%). These three categories accounted for over half of the country's export value.

What are the main products Uzbekistan imports in 2024 Dec?

The largest import categories were nuclear reactors/boilers/machinery (18.24% of total imports), vehicles (11.45%), and mineral fuels (9.81%). These industrial and energy products dominated Uzbekistan's import basket.

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

Mainland China received 31.07% of Uzbekistan's exports, followed by Russia (19.54%) and Kazakhstan (8.06%). These three markets accounted for nearly 60% of total export value.

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

Russia was the largest import source (11.56%), followed by Kazakhstan (5.99%) and Afghanistan (5.70%). Notably, 52.76% of imports came from unspecified origin countries.

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

Uzbekistan's exports surged 92.8% to $1.87B while imports fell 10.5% to $3.36B, narrowing the trade deficit to $1.49B. This rebalancing was driven by strong commodity demand and reduced foreign purchases.