2024 Feb Uzbekistan Trade Data Summary: Export Surge

Uzbekistan 2024 Feb Trade Data Key Takeaways

• Market Trend: Uzbekistan trade data shows exports surged 171.8% YoY to $2.16B, narrowing the trade deficit sharply.
• Key Driver: Uzbekistan import export data reveals gems/metals (HS 71) dominate exports (61%), while machinery/fuels lead imports.
• Strategic Risk: Extreme export concentration (65% to one market) heightens vulnerability to demand shocks.

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

Uzbekistan 2024 Feb Trade Data Trend Overview

• Uzbekistan, a rapidly liberalizing emerging market, posted robust trade flows in February 2024 as it continued its push toward WTO accession and deeper global integration, according to the latest Uzbekistan global trade data.
• The February Uzbekistan import export data shows exports surged 171.8% year-on-year to $2.16B, while imports grew a more moderate 11.4% to $2.98B, indicating a significant rebalancing of external trade flows.
• This resulted in a trade deficit of $820M for the month, a substantial narrowing from the year-earlier period on the back of explosive export growth.
• The export boom is directly tied to the government's aggressive trade facilitation agenda, including its National Trade Facilitation Roadmap aimed at boosting regional trade and meeting WTO requirements [UNECE].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Uzbekistan 2024 Feb Top Trading Products

Uzbekistan Global Trade Core Summary

Uzbekistan's exports are heavily concentrated in gems and precious metals (HS 71), which make up 61% of total exports. Other key exports include cotton, copper, and apparel, showing a mix of raw materials and light manufacturing. Imports are dominated by machinery (HS 84), fuels (HS 27), and vehicles (HS 87), reflecting a reliance on industrial equipment and energy. The trade structure suggests a resource-driven export economy with high import needs for infrastructure and production.

Key takeaways:

• Gems and metals dominate exports, creating potential vulnerability to price swings.
• Cotton and copper highlight Uzbekistan's role as a raw material supplier.
• Heavy machinery and fuel imports indicate industrial dependency.
• Limited high-value exports point to untapped manufacturing potential.

Uzbekistan Export-Import Structural Gap

Uzbekistan exports mostly raw materials (gems, cotton, copper) while importing machinery, vehicles, and fuels. This gap shows a reliance on basic commodities for income and advanced goods for development. The lack of overlap in top HS codes suggests minimal processing trade. The import-heavy industrial sector signals opportunities to upgrade local manufacturing, especially in machinery and metals. Energy imports also highlight a need for domestic energy alternatives.

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

Check Detailed Uzbekistan Trade HS Code Breakdown

Uzbekistan 2024 Feb Top Trading Countries

Uzbekistan Global Trade Key Patterns

Uzbekistan's exports show extreme concentration, with 64.57% going to a single unnamed destination, followed by Russia (9.9%) and Mainland China (4.68%). Regional neighbors like Kazakhstan, Afghanistan, and Kyrgyzstan account for smaller shares. In contrast, imports are more diversified, led by Mainland China (27.74%) and Russia (24.16%), with significant contributions from Kazakhstan, South Korea, and Turkey. Key takeaways:

• Exports rely heavily on one dominant market, creating potential vulnerability.
• Imports draw from a broader mix of Asian and European suppliers.
• Russia and China play dual roles as both key export destinations and import sources.

Uzbekistan Export–Import Geographic Gap

Uzbekistan faces a clear trade geography mismatch: exports are hyper-concentrated (one market dominates), while imports are relatively diversified across 10+ countries. Russia and China appear in both top export and import lists, suggesting some processing trade. The structure implies high downstream export risk (single-market dependence) but balanced upstream import security. Regional neighbors feature more prominently in exports than imports.

Table: Uzbekistan Top Destiantion & Origin Countries (Source: yTrade)

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Frequently Asked Questions

What are the major products exported by Uzbekistan in 2024 Feb?

The top exports in February 2024 were natural or cultured pearls (61.18%, $1.32B), cotton (6.43%, $138.67M), and copper articles (3.96%, $85.50M), based on HS code data.

What are the main products Uzbekistan imports in 2024 Feb?

Key imports included nuclear reactors/machinery (15.41%, $459.58M), mineral fuels (12.59%, $375.38M), and vehicles (10.92%, $325.50M), per HS code analysis.

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

Mainland China received 27.74% ($827.11M) of exports, followed by Russia (24.16%, $720.47M) and Kazakhstan (7.22%, $215.15M), according to trade data.

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

Russia was the largest import source (9.90%, $213.56M), trailed by Mainland China (4.68%, $100.83M) and Turkey (3.63%, $78.21M), as per origin country statistics.

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

Uzbekistan's exports surged 171.8% YoY to $2.16B while imports grew 11.4% to $2.98B, narrowing the trade deficit to $820M amid aggressive trade facilitation efforts.