Uzbekistan - Belarus Trade 2024 Q3: Deficit & Growth
Key Market Takeaways: Uzbekistan - Belarus Trade
The bilateral trade relationship between Uzbekistan and Belarus shows growth with notable volatility in 2024 Q3.
- Economic Pulse: Uzbekistan runs a $91.99M trade deficit with Belarus ($135.17M imports vs. $43.18M exports), though exports posted strong YoY growth in key months.
- Exchange Structure: Uzbekistan - Belarus trade statistics reveal a resource-for-consumer goods swap: textiles and metals flow to Belarus, while meat, wood, and machinery dominate imports.
- Strategic Interdependence: The partnership is moderately complementary, with Belarus holding a slight edge in higher-value machinery exports.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Uzbekistan-Belarus Trade Trend in Q3 2024
Uzbekistan Export Performance: Shipments to Belarus
- Total Volume: $43.18M in Q3 2024.
- Growth Trend & Context:
- Strong YoY growth in July (+24.1%) and September (+49.4%), though August moderated (+11.57%).
- No specific trade news to explain volatility.
- Key Volatility: August saw a 15.4% MoM surge, the highest in the quarter.
Uzbekistan Import Performance: Sourcing from Belarus
- Total Volume: $135.17M in Q3 2024.
- Growth Trend & Context:
- YoY growth persisted but slowed from July (+23.2%) to September (+7.8%).
- No news to contextualize the decline.
- Key Volatility: July had the highest imports ($47.67M), followed by a -7.07% MoM drop in September.
Uzbekistan - Belarus Trade Balance & Market Dynamics
- Net Position: Trade deficit of $91.99M (Imports $135.17M > Exports $43.18M).
- Relationship Status: Uzbekistan remains heavily dependent on Belarus for imports, with exports lagging significantly.
Uzbekistan Import Trend from Belarus 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 47.67M | 14.67% | 23.2% |
| Aug | 45.35M | -4.86% | 8.46% |
| Sep | 42.15M | -7.07% | 7.8% |
| Total | 135.17M | - | - |
Uzbekistan Export Trend to Belarus 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 12.89M | 7.87% | 24.1% |
| Aug | 14.88M | 15.4% | 11.57% |
| Sep | 15.41M | 3.61% | 49.4% |
| Total | 43.18M | - | - |
Get Historical Uzbekistan Belarus Trade Records
Uzbekistan-Belarus Top Trading Products in Q3 2024
Uzbekistan Export Profile: What Does Uzbekistan Sell to Belarus
- Top Commodity: Rank #1 export is HS 61 (Knit apparel), accounting for 17.47% of total exports to Belarus.
- Demand Driver: Belarus imports consumer goods like knit apparel (HS 61) and woven fabrics (HS 52, 54), indicating serving its domestic retail market.
- Concentration: No single category dominates; the top 3 exports (HS 61, 72, 60) combine for 44.7%, showing moderate diversification.
Uzbekistan Import Profile: What Does Uzbekistan Buy from Belarus
- Top Commodity: Rank #1 import is HS 02 (Meat), making up 30.49% of total imports from Belarus.
- Dependency Nature: Dominated by agricultural products (HS 02, 04) and wood (HS 44), suggesting food security and construction material reliance.
Uzbekistan - Belarus Trade Relationship Dynamics
- The Exchange Model: Resource-for-Consumer Goods Swap. Uzbekistan supplies textiles (HS 61, 60, 52) and metals (HS 72, 74), while Belarus exports meat, wood, and machinery (HS 87, 84).
- Value Chain Position: Belarus holds a slight edge with higher-value machinery exports (HS 87, 84), while Uzbekistan’s exports are labor-intensive (apparel, fabrics).
Import Analysis by Product: Belarus to Uzbekistan (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 02 | 41.22M | 30.49% |
| 44 | 32.55M | 24.08% |
| 87 | 17.63M | 13.05% |
| 04 | 8.48M | 6.27% |
| 73 | 3.41M | 2.53% |
| 16 | 3.27M | 2.42% |
| 48 | 2.86M | 2.12% |
| 39 | 2.48M | 1.83% |
| 84 | 2.31M | 1.71% |
| 30 | 2.29M | 1.69% |
Export Analysis by Product: Uzbekistan to Belarus (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 61 | 7.54M | 17.47% |
| 72 | 6.50M | 15.06% |
| 60 | 5.25M | 12.17% |
| 08 | 4.11M | 9.52% |
| 52 | 4.05M | 9.38% |
| 54 | 3.45M | 7.99% |
| 74 | 2.31M | 5.36% |
| 84 | 2.26M | 5.23% |
| 63 | 950.79K | 2.20% |
| 55 | 818.37K | 1.90% |
Check Detailed Uzbekistan-Belarus Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Uzbekistan’s trade with Belarus is likely to maintain its current trajectory in Q4 2024, with exports continuing to grow but imports still dominating. The strong YoY performance in Uzbek textile shipments (HS 61) suggests sustained demand from Belarus’s retail sector, while Belarus’s agricultural and machinery exports (HS 02, 87) will keep Uzbekistan in a trade deficit. However, the slowing import growth rate signals potential softening in Belarus’s export capacity, which could narrow the deficit slightly. Traders should prepare for moderate volatility, particularly in agricultural commodities, given Uzbekistan’s reliance on Belarus for food security.
Strategic Moves
- Expand Textile Exports: Uzbek exporters must capitalize on Belarus’s steady demand for knit apparel (HS 61) by securing long-term contracts with Belarusian retailers, ensuring stable revenue streams.
- Diversify Meat Imports: To reduce dependency on Belarusian meat (HS 02), Uzbek buyers should explore alternative suppliers in Russia or Kazakhstan, mitigating supply chain risks.
- Upgrade Metal Exports: Uzbekistan’s steel and copper shipments (HS 72, 74) should target higher-value segments in Belarus’s construction sector, moving beyond raw materials to processed goods for better margins.
Frequently Asked Questions
How did Uzbekistan - Belarus trade perform in 2024 Q3?
Uzbekistan exported $43.18M to Belarus, with strong YoY growth in July (+24.1%) and September (+49.4%), while imports totaled $135.17M, showing slower growth by September (+7.8%).
What are the top exports from Uzbekistan to Belarus?
The top exports are HS 61 (Knit apparel), HS 72 (Metals), and HS 60 (Knit fabrics), accounting for 44.7% of total exports.
What does Uzbekistan import from Belarus?
The top imports are HS 02 (Meat), HS 04 (Dairy products), and HS 44 (Wood), with meat alone making up 30.49% of total imports.
What is the trade balance between Uzbekistan and Belarus?
Uzbekistan recorded a trade deficit of $91.99M in Q3 2024, as imports ($135.17M) significantly exceeded exports ($43.18M).
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