2024 Q4 Uzbekistan Global Trade Data Summary: Volatility Widens Deficit

Uzbekistan 2024 Q4 Trade Data Key Takeaways

• Market Trend: Uzbekistan trade data shows Q4 volatility with exports down 14.4% and imports down 9.92%, widening the deficit to -$1.49B.
• Key Driver: Uzbekistan import export data reveals gems/metals (35.6% of exports) and machinery (16.3% of imports) as trade anchors.
• Strategic Risk: Over-reliance on raw material exports and single-market dependence (43.5%) heightens commodity price vulnerability.

Analysis covers 2024 Q4 based on sanitized customs records from the yTrade database.

Uzbekistan 2024 Q4 Trade Data Trend Overview

• Uzbekistan, a Central Asian energy and commodity exporter, closed Q4 with volatile trade flows, as shown in its latest global trade data.
• The country's import export data reveals exports of $1.87B in December, down 14.4% year-on-year, while imports rose to $3.36B, down 9.92% year-on-year.
• This resulted in a quarterly trade deficit, with December's gap widening to approximately -$1.49B.
• The absence of major trade policy shifts suggests this volatility was driven by typical fluctuations in global energy and raw material prices.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Uzbekistan 2024 Q4 Top Trading Products

Uzbekistan Global Trade Core Summary

Uzbekistan's exports are heavily resource-driven, with gems and precious metals (HS 71) making up 35.6% of total exports. Other key exports include cotton (6.2%), mineral fuels (6.0%), and copper (5.5%), alongside agricultural products like fruits and vegetables. The country’s export structure shows high reliance on raw materials, with limited manufacturing presence. Imports, however, are dominated by machinery (HS 84, 16.3%), vehicles (HS 87, 10.6%), and electrical equipment (HS 85, 9.0%), indicating a need for industrial inputs and technology.

Key Takeaways:

• Exports depend on gems, cotton, and fuels, posing concentration risks.
• Low-value raw materials dominate, with minimal processed goods.
• Imports focus on machinery and vehicles, suggesting reliance on foreign technology.
• Limited export diversification increases vulnerability to commodity price swings.

Uzbekistan Export-Import Structural Gap

Uzbekistan’s trade imbalance highlights a resource-based economy importing high-value machinery. Exports are mostly raw (gems, cotton, metals), while imports are finished industrial goods. The overlap in HS 27 (mineral fuels) shows some processing trade, but the gap in machinery (import-heavy) signals weak domestic manufacturing. Upgrading to higher-value production—like refining metals or textiles—could reduce import dependence. The lack of advanced exports suggests untapped potential in industrial development.

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

Check Detailed Uzbekistan Trade HS Code Breakdown

Uzbekistan 2024 Q4 Top Trading Countries

Uzbekistan Global Trade Key Patterns

Uzbekistan's exports show high concentration, with one unnamed destination taking 43.5% of total exports ($2.13B). Russia (14.78%, $723.43M) and Kazakhstan (7.83%, $382.92M) are other major buyers, indicating a regional focus in Central Asia and neighboring markets. Imports are more diversified but still rely heavily on Mainland China (30.38%, $2.87B) and Russia (21.27%, $2.01B), with smaller shares from Kazakhstan (8.43%) and South Korea (5.12%). Key asymmetries include:

• Exports are dominated by a single market, while imports spread across multiple suppliers.
• Regional trade is strong, with Russia, Kazakhstan, and China appearing in both export and import lists.
• Limited global reach—exports and imports are mostly confined to nearby economies.

Uzbekistan Export–Import Geographic Gap

Uzbekistan depends on a few key partners for both selling and buying goods, with Russia, China, and Kazakhstan appearing in both export and import lists. Exports are heavily skewed toward one market, while imports are more balanced but still lean on China and Russia. The trade structure suggests upstream dependency (relying on a few suppliers) and limited downstream diversification (exports concentrated in a few destinations). Overlapping trade partners hint at processing or re-export activities, particularly with neighboring Central Asian countries. The data shows a regional trade network rather than a globally connected one.

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 Q4?

The top exports were natural or cultured pearls, precious or semi-precious stones (35.57% of total exports, $1.74B), followed by cotton (6.15%, $301.11M) and mineral fuels (6.04%, $295.55M).

What are the main products Uzbekistan imports in 2024 Q4?

Uzbekistan primarily imports nuclear reactors, boilers, and machinery (16.27% of total imports, $1.53B), vehicles (10.63%, $1.00B), and mineral fuels (9.86%, $929.74M).

Which countries are the top destinations for Uzbekistan's exports in 2024 Q4?

Mainland China received 30.38% of exports ($2.87B), followed by Russia (21.27%, $2.01B) and Kazakhstan (8.43%, $795.02M).

Which countries supply most of Uzbekistan's imports in 2024 Q4?

Russia was the largest import source (14.78%, $723.43M), followed by Kazakhstan (7.83%, $382.92M) and Mainland China (6.39%, $312.45M).

How balanced are Uzbekistan's export and import markets in 2024 Q4?

Uzbekistan faced a trade deficit of -$1.49B in December, with exports declining 14.4% YoY to $1.87B and imports dropping 9.92% YoY to $3.36B. Volatility was driven by energy and commodity price fluctuations.

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