Uzbekistan - Germany Trade 2024 Q2: Deficit Narrows

Key Market Takeaways: Uzbekistan - Germany Trade

The bilateral trade relationship between Uzbekistan and Germany narrowed its deficit in Q2 2024 as export declines softened.

• Deficit-Driven Trade: Uzbekistan posted a 192.28M trade deficit (Imports: 198.17M > Exports: 5.89M), though export contractions eased to -10.93% YoY by June.
• Resource-for-Tech Exchange: Uzbekistan - Germany trade statistics show knitted apparel (23.31% of exports) swapped for German machinery (32.03% of imports), highlighting a classic labor-for-tech dynamic.
• Asymmetric Reliance: Germany dominates high-value sectors (machinery, medical devices), while Uzbekistan remains a marginal supplier of consumer goods.

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

Uzbekistan-Germany Trade Trend in Q2 2024

Uzbekistan Export Performance: Shipments to Germany

• Total Volume: Exports to Germany totaled 5.89M in Q2 2024.
• Growth Trend & Context:
  • YoY declines persisted across all months, though the contraction eased from -51.88% in April to -10.93% in June, suggesting a gradual recovery.
  • No trade policy shifts were reported to explain the slump.
• Key Volatility: June saw the sharpest MoM rebound (+12.68%), potentially signaling renewed demand.

Uzbekistan Import Performance: Sourcing from Germany

• Total Volume: Imports from Germany reached 198.17M in Q2 2024.
• Growth Trend & Context:
  • Mixed YoY performance: -36.21% in April flipped to +35.72% in June, indicating volatile demand or supply adjustments.
• Key Volatility: April recorded the steepest MoM drop (-18.66%), while May-June stabilized with minor fluctuations.

Uzbekistan - Germany Trade Balance & Market Dynamics

• Net Position: Uzbekistan faced a trade deficit of 192.28M (Imports: 198.17M > Exports: 5.89M).
• Relationship Status: Heavy reliance on German imports, with exports remaining marginal. The deficit narrowed slightly as export declines softened toward June.

Uzbekistan Import Trend from Germany 2024 Q2 (Source: yTrade)**

Uzbekistan Export Trend to Germany 2024 Q2 (Source: yTrade)**

Get Historical Uzbekistan Germany Trade Records

Uzbekistan-Germany Top Trading Products in Q2 2024

Uzbekistan Export Profile: What Does Uzbekistan Sell to Germany

• Top Commodity: Rank #1 export is HS 61 (Knitted apparel), accounting for 23.31% of total exports to Germany.
• Demand Driver: Germany imports these consumer goods to serve its domestic retail market.
• Concentration: Trade is moderately diversified, with no single category exceeding 50% share.

Uzbekistan Import Profile: What Does Uzbekistan Buy from Germany

• Top Commodity: Rank #1 import is HS 84 (Machinery/mechanical appliances), making up 32.03% of total imports from Germany.
• Dependency Nature: Reflects critical technology dependency, as Uzbekistan relies on German machinery for industrial and infrastructure development.

Uzbekistan - Germany Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity—Uzbekistan exports low-value consumer goods (apparel, textiles) and imports high-value machinery and pharmaceuticals.
• Value Chain Position: Germany holds the higher value-add position, dominating complex categories (machinery, medical devices) while Uzbekistan supplies labor-intensive goods.

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

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

Check Detailed Uzbekistan-Germany Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

The Uzbekistan-Germany trade relationship is expected to stabilize in Q3 2024, with exports likely to recover further as demand for Uzbek consumer goods (notably knitted apparel) shows signs of resilience. However, the persistent trade deficit underscores Uzbekistan’s heavy reliance on German machinery and technology, which will continue to dominate imports. Volatility in import demand may persist due to supply chain adjustments, but the gradual easing of export declines suggests a modest rebalancing ahead. Traders should prepare for a period of cautious growth, with Germany maintaining its high value-add position.

Strategic Moves

• Diversify Export Markets: Uzbek exporters must reduce dependency on Germany by targeting other EU markets for textiles and apparel, leveraging competitive pricing and quality.
• Secure Long-Term Tech Partnerships: Importers should negotiate multi-year contracts with German machinery suppliers to stabilize costs and ensure steady access to critical industrial equipment.
• Boost Export Competitiveness: The Uzbek government and private sector must invest in value-added production (e.g., finished garments over raw textiles) to narrow the trade deficit and capture higher margins.

Frequently Asked Questions

How did Uzbekistan - Germany trade perform in 2024 Q2?

Uzbekistan's exports to Germany totaled 5.89M in Q2 2024, with YoY declines easing from -51.88% in April to -10.93% in June. Imports from Germany reached 198.17M, showing volatile growth from -36.21% in April to +35.72% in June.

What are the top exports from Uzbekistan to Germany?

The top export from Uzbekistan to Germany is HS 61 (Knitted apparel), accounting for 23.31% of total exports, reflecting demand for consumer goods in Germany's retail market.

What does Uzbekistan import from Germany?

Uzbekistan's top import from Germany is HS 84 (Machinery/mechanical appliances), making up 32.03% of total imports, highlighting reliance on German technology for industrial development.

What is the trade balance between Uzbekistan and Germany?

Uzbekistan faced a trade deficit of 192.28M in Q2 2024, with imports (198.17M) far exceeding exports (5.89M). The deficit narrowed slightly as export declines softened toward June.