2024 Mar Uzbekistan Global Trade Data Summary: Export Boom

Uzbekistan 2024 Mar Trade Data Key Takeaways

• Market Trend: Uzbekistan trade data shows exports surged 10% while imports fell 6.3%, narrowing the deficit to $550M.
• Key Driver: Uzbekistan import export data reveals precious metals (HS 71) dominate exports (60%), with Russia and China leading imports (53% combined).
• Strategic Risk: Heavy export reliance on one unnamed market (64.69%) poses concentration risk amid limited manufacturing diversification.

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

Uzbekistan 2024 Mar Trade Data Trend Overview

• Uzbekistan, a Central Asian energy and commodity exporter, saw its March 2024 Uzbekistan global trade data reflect a 10% annual export surge while imports contracted.
• The nation's Uzbekistan import export data for the period shows exports reached $2.37 billion, up 10% year-on-year, while imports fell 6.3% to $2.92 billion.
• This divergence narrowed the trade deficit to $550 million, a significant improvement driven by stronger export performance and lower import demand.
• The export growth was likely supported by stable global commodity prices and ongoing foreign investment in the country's extractive sectors, while import contraction may indicate subdued domestic capital expenditure.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Uzbekistan 2024 Mar Top Trading Products

Uzbekistan Global Trade Core Summary

Uzbekistan's exports are dominated by precious stones and metals (HS 71), making up 60% of total exports. Other key exports include cotton (5.4%), mineral fuels (5.1%), and copper (4%). The export structure leans heavily on raw materials, with limited manufacturing presence. Imports are more diversified, led by machinery (16.5%) and mineral fuels (16.1%), followed by vehicles (8.7%) and electrical equipment (7.8%). The trade profile shows a resource-driven export economy with high reliance on imported machinery and energy.

Key Takeaways:

• Heavy dependence on precious metals exports poses concentration risk.
• Imports focus on industrial machinery and energy, indicating infrastructure needs.
• Limited high-value manufactured exports suggest untapped industrial potential.

Uzbekistan Export-Import Structural Gap

Uzbekistan exports mostly raw materials (precious metals, cotton, fuels) while importing machinery, vehicles, and technology. The gap highlights an economy reliant on resource extraction rather than advanced manufacturing. Overlap in mineral fuels (both exported and imported) suggests possible refining or re-export activity. The lack of high-tech exports signals room for industrial upgrading, especially given machinery-heavy imports. The trade structure aligns with a developing economy transitioning from raw material dependence to industrialization.

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

Check Detailed Uzbekistan Trade HS Code Breakdown

Uzbekistan 2024 Mar Top Trading Countries

Uzbekistan Global Trade Key Patterns

Uzbekistan's exports are highly concentrated, with one unnamed destination accounting for 64.69% ($1.53B) of total exports. Other key markets include Russia (9%, $213M), Kazakhstan (4.85%, $115M), and Turkey (4.14%, $98M), showing a regional focus on neighboring and CIS countries. Imports are more diversified, with Russia (26.79%, $781M) and Mainland China (26.45%, $771M) as the top suppliers, followed by Kazakhstan (7.68%, $224M) and South Korea (5.2%, $151M). The trade structure reveals a heavy reliance on Russia and China for imports, while exports depend heavily on a single market.

Key Takeaways:

• Exports are dominated by one major destination (64.69% share).
• Imports are split between Russia and China (combined 53.24%).
• Regional trade (CIS, Central Asia) is significant for both exports and imports.
• Export markets are less diversified than import sources.

Uzbekistan Export–Import Geographic Gap

Exports are heavily skewed toward one market, while imports are split between two major suppliers (Russia and China) and a broader set of secondary partners. The overlap in key trade partners (Russia, Kazakhstan, Turkey, China) suggests some processing or re-export trade. Export destinations are more regionally concentrated (CIS and Central Asia), while imports draw from global suppliers (South Korea, Germany, U.S.). This indicates downstream dependency on a single buyer but upstream diversification in sourcing. The structure points to potential vulnerability in export reliance but balanced import risk.

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 Mar?

Uzbekistan's top exports in March 2024 were natural or cultured pearls, precious or semi-precious stones (59.98% of exports, $1.42B), followed by cotton (5.36%, $127.03M) and mineral fuels (5.13%, $121.53M).

What are the main products Uzbekistan imports in 2024 Mar?

The country primarily imported nuclear reactors, boilers, and machinery (16.47%, $480.14M), mineral fuels (16.08%, $468.77M), and vehicles (8.73%, $254.51M) in March 2024.

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

Russia was the largest export destination (26.79%, $781.11M), followed by Mainland China (26.45%, $771.13M) and Kazakhstan (7.68%, $223.76M).

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

Uzbekistan sourced most imports from an unspecified country (64.69%, $1.53B), with Russia (9.00%, $213.26M) and Kazakhstan (4.85%, $114.88M) as other key suppliers.

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

Uzbekistan's trade deficit narrowed to $550 million in March 2024, with exports rising 10% to $2.37B and imports declining 6.3% to $2.92B year-on-year.