2024 Jun Uzbekistan Trade Data Summary: Deficit Widens

Uzbekistan 2024 Jun Trade Data Key Takeaways

• Market Trend: Uzbekistan trade data shows exports up 3.5% YoY, but imports surge 20.8%, widening deficit to $1.36B.
• Key Driver: Uzbekistan import export data reveals Russia as top export market (26%) and China as leading import source (26%).
• Strategic Risk: Heavy reliance on raw material exports and machinery imports exposes industrial chain gaps.

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

Uzbekistan 2024 Jun Trade Data Trend Overview

• A Central Asian reformer diversifying its commodity-led economy, Uzbekistan's global trade data for June 2024 reflects its transitional phase, balancing export growth against surging import demand for capital goods and inputs.
• Uzbekistan import export data shows exports reached $1.17B, a 3.5% YoY gain, while imports surged 20.8% to $2.53B, indicating robust domestic investment and consumption growth outpacing foreign sales.
• The widening trade deficit hit $1.36B, underscoring the structural gap as the economy modernizes and invests heavily in infrastructure and production capacity.
• This import growth aligns with the government's broader trade facilitation and WTO accession agenda, which aims to streamline customs and boost regional integration, driving demand for foreign machinery and technology [UNECE].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Uzbekistan Trade Data

Uzbekistan 2024 Jun Top Trading Products

Uzbekistan Global Trade Core Summary

Uzbekistan's exports are heavily resource-driven, with mineral fuels (20.5%), edible fruits (11.6%), and cotton (10%) dominating. These three categories alone make up over 40% of total exports. Imports, however, focus on machinery (16.8%), mineral fuels (14.1%), and electrical equipment (9.1%), indicating reliance on industrial inputs and energy. The export structure shows high concentration risk, while imports reflect infrastructure and manufacturing needs. Key takeaways:

• Resource dependence: Exports rely on raw materials like fuels and agricultural goods.
• Industrial gap: Imports highlight machinery and tech needs for production.
• Supply chain risk: Heavy fuel imports despite being a major fuel exporter suggest refining or distribution gaps.

Uzbekistan Export-Import Structural Gap

Uzbekistan exports raw materials but imports finished machinery and equipment, showing an incomplete industrial chain. For example, it ships cotton (HS 52) but brings in apparel (HS 61), missing value-added steps. The overlap in mineral fuels (HS 27) for both exports and imports points to potential inefficiencies in energy processing. The import-heavy machinery (HS 84) and vehicles (HS 87) signal reliance on foreign technology for development. This gap suggests room for local manufacturing growth, especially in textiles and machinery assembly.

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

Check Detailed Uzbekistan Trade HS Code Breakdown

Uzbekistan 2024 Jun Top Trading Countries

Uzbekistan Global Trade Key Patterns

Uzbekistan's exports show strong regional concentration, with Russia as the top destination (26.09% share, $306.47M), followed by an unnamed market (21.69%) and Kazakhstan (10.26%). Over 75% of exports go to just six countries, all in Eurasia or neighboring regions. Imports are more diversified but still rely heavily on Mainland China (25.93%, $656.64M) and Russia (22.53%, $570.53M), with Kazakhstan and Turkey also appearing in both top import and export lists. Key asymmetries include:

• Exports are heavily Eurasian-focused, while imports draw from global suppliers like South Korea and Germany.
• China dominates imports but is only the fourth-largest export market.
• The U.S. and UAE appear as minor export destinations but are absent from import sources.

Uzbekistan Export–Import Geographic Gap

Uzbekistan’s trade flows reveal a clear split: exports cluster tightly around regional partners, while imports source more broadly but still depend on two key suppliers (China and Russia). The overlap of Russia, Kazakhstan, and Turkey in both lists suggests processing trade or re-export activity. The structure implies downstream diversification in exports (though limited to nearby markets) and upstream dependency on a few large import partners. This gap highlights Uzbekistan’s role as a regional trade hub with global supply chain ties.

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 Jun?

Uzbekistan's top exports in June 2024 were mineral fuels (20.49%), edible fruits and nuts (11.57%), cotton (9.96%), and copper articles (9.05%), based on HS code data.

What are the main products Uzbekistan imports in 2024 Jun?

The country primarily imported nuclear reactors/machinery (16.77%), mineral fuels (14.11%), electrical machinery (9.08%), and vehicles (8.48%), according to HS code classifications.

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

Mainland China (25.93%), Russia (22.53%), and Kazakhstan (7.55%) were the leading export destinations, per trade flow data.

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

Russia (26.09%), unspecified origins (21.69%), and Kazakhstan (10.26%) dominated Uzbekistan's import supply chain.

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

Uzbekistan recorded a $1.36B trade deficit, with imports surging 20.8% YoY to $2.53B while exports grew modestly by 3.5% to $1.17B, reflecting heavy investment-driven demand.