Uzbekistan - Belarus Trade 2024 Whole Year: Growing Trade Deficit

Key Market Takeaways: Uzbekistan - Belarus Trade

The bilateral trade relationship between Uzbekistan and Belarus is marked by a growing but volatile trade deficit in 2024.

• Economic Pulse: Uzbekistan runs a $363.34M trade deficit with Belarus, importing $519.85M (mostly meat and machinery) while exporting $156.51M (primarily apparel and textiles). Volatility dominates, with sharp monthly swings in both directions.
• Exchange Structure: Uzbekistan’s exports to Belarus focus on consumer-ready goods (HS 61 apparel, 52 cotton), while imports are dominated by Belarusian meat (HS 02) and industrial inputs (HS 44 wood, HS 87 vehicles)—highlighting a resource-for-tech complementarity.
• Strategic Interdependence: Belarus holds the higher-value position, supplying processed goods, while Uzbekistan’s exports remain lower-margin. The imbalance suggests asymmetric dependency, particularly in food security (meat imports).

This bilateral trade snapshot is based on verified customs data from the yTrade database.

Uzbekistan-Belarus Trade Trend in Whole Year 2024

Uzbekistan Export Performance: Shipments to Belarus

• Total Volume: $156.51M for 2024.
• Growth Trend & Context:
  • Mixed YoY performance: Strong surges (e.g., Nov: +126.69% YoY) offset by declines (May: -8.39% YoY).
  • No specific news to contextualize trends.
• Key Volatility:
  • Feb saw the highest MoM jump (+86.05%), while Dec dropped sharply (-21.4% MoM).

Uzbekistan Import Performance: Sourcing from Belarus

• Total Volume: $519.85M for 2024.
• Growth Trend & Context:
  • YoY fluctuations: Peaks (Jun: +39.88% YoY) contrasted with troughs (Mar: -22.43% YoY).
• Key Volatility:
  • May recorded the highest MoM growth (+25.73%), while Nov fell sharply (-22.17% MoM).

Uzbekistan - Belarus Trade Balance & Market Dynamics

• Net Position: Trade Deficit of $363.34M (Imports exceed exports).
• Relationship Status: Heavy reliance on imports from Belarus, with exports failing to offset the imbalance.

Uzbekistan Import Trend from Belarus 2024 Whole Year (Source: yTrade)**

Uzbekistan Export Trend to Belarus 2024 Whole Year (Source: yTrade)**

Get Historical Uzbekistan Belarus Trade Records

Uzbekistan-Belarus Top Trading Products in Whole Year 2024

Uzbekistan Export Profile: What Does Uzbekistan Sell to Belarus

• Top Commodity: Rank #1 export is HS 61 (Apparel and clothing accessories), accounting for 21.03% of total exports to Belarus.
• Demand Driver: Belarus imports consumer-ready goods like apparel, indicating these products serve its domestic retail market.
• Concentration: No single category dominates; the top 5 exports (HS 61, 72, 52, 60, 08) collectively cover 66.3% of trade, showing moderate diversification.

Uzbekistan Import Profile: What Does Uzbekistan Buy from Belarus

• Top Commodity: Rank #1 import is HS 02 (Meat and edible meat offal), making up 26.78% of total imports from Belarus.
• Dependency Nature: Heavy reliance on Belarus for meat products suggests food security dependency, supplemented by wood (HS 44) and machinery (HS 87) for industrial needs.

Uzbekistan - Belarus Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity—Uzbekistan supplies textiles (HS 61, 52, 60) and agricultural goods (HS 08, 07) to Belarus, while importing meat (HS 02), wood (HS 44), and machinery (HS 87).
• Value Chain Position: Belarus holds a higher value-add position, exporting processed goods (meat, wood products, vehicles) versus Uzbekistan’s lower-margin apparel and raw materials.

Import Analysis by Product: Belarus to Uzbekistan (Source: yTrade)

Export Analysis by Product: Uzbekistan to Belarus (Source: yTrade)

Check Detailed Uzbekistan-Belarus Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Uzbekistan’s trade deficit with Belarus is expected to persist in 2025, driven by continued reliance on Belarusian meat (HS 02) and machinery (HS 87) imports. However, export growth in apparel (HS 61) and agricultural goods (HS 08) could narrow the gap if Uzbek producers capitalize on Belarus’s retail demand. Volatility in monthly trade flows suggests traders should prepare for short-term disruptions, particularly in seasonal commodities. The Uzbekistan-Belarus trade forecast hinges on whether Uzbekistan can diversify exports beyond low-margin textiles while securing stable import channels for critical goods.

Strategic Moves

• Expand Export Basket: Uzbek exporters must target higher-value textile products (e.g., technical fabrics under HS 59) to reduce reliance on basic apparel and improve margins in the Belarusian market.
• Lock in Meat Supply Contracts: Given Belarus’s dominance in meat exports (HS 02), Uzbek importers should negotiate long-term agreements to stabilize prices and avoid seasonal shortages.
• Diversify Machinery Sources: To mitigate over-dependence on Belarusian machinery (HS 87), Uzbekistan should explore alternative suppliers in Turkey or China while investing in domestic production capabilities.

Frequently Asked Questions

How did Uzbekistan - Belarus trade perform in 2024 Whole Year?

Uzbekistan exported $156.51M to Belarus and imported $519.85M, resulting in mixed YoY growth with notable volatility in monthly trade volumes.

What are the top exports from Uzbekistan to Belarus?

The top exports are HS 61 (Apparel and clothing accessories), HS 72 (Iron and steel), HS 52 (Cotton), HS 60 (Knitted fabrics), and HS 08 (Edible fruits and nuts).

What does Uzbekistan import from Belarus?

The top imports are HS 02 (Meat and edible meat offal), HS 44 (Wood and wood products), and HS 87 (Vehicles and machinery).

What is the trade balance between Uzbekistan and Belarus?

Uzbekistan recorded a trade deficit of $363.34M with Belarus, driven by heavy reliance on imports like meat and machinery.