Uzbekistan - India Trade 2023 Whole Year: $641M Deficit
Key Market Takeaways: Uzbekistan - India Trade
The bilateral trade relationship between Uzbekistan and India is marked by extreme volatility and a heavy trade deficit in 2023.
- $641M Deficit: Uzbekistan’s imports from India ($641.33M) dwarf its exports ($49.06M), creating a $592.27M deficit—highlighting asymmetric reliance.
- Resource-for-Tech Exchange: Uzbekistan - India trade statistics show a lopsided structure: raw copper (48% of exports) flows to India, while pharmaceuticals (46% of imports) dominate inbound shipments.
- Complementary but Unbalanced: India holds the high-value position, supplying critical tech and medicines, while Uzbekistan remains a raw material exporter.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Uzbekistan-India Trade Trend in Whole Year 2023
Uzbekistan Export Performance: Shipments to India
- Total Volume: $49.06M in 2023.
- Growth Trend & Context:
- Extreme volatility in YoY growth, ranging from -57.37% (Sep) to +1,490.66% (Oct).
- October’s anomalous 1,563.59% MoM surge (to $25.17M) likely reflects a one-off shipment or data correction, given the absence of supporting news.
- Key Volatility: February (+223.84% MoM) and October (+1,563.59% MoM) saw dramatic spikes, while November (-93.28% MoM) posted a severe contraction.
Uzbekistan Import Performance: Sourcing from India
- Total Volume: $641.33M in 2023.
- Growth Trend & Context:
- Mixed YoY performance: July (+22.94%) and October (+39.08%) drove growth, but six months saw declines, including March (-35.09%) and June (-36.23%).
- Key Volatility: July (+63.66% MoM) marked the peak ($61.79M), while April ($34.26M) and June ($37.76M) were troughs.
Uzbekistan - India Trade Balance & Market Dynamics
- Net Position: Trade deficit of $592.27M (Imports $641.33M > Exports $49.06M).
- Relationship Status: Uzbekistan remains heavily import-dependent on India, with exports negligible relative to imports. The deficit underscores asymmetric trade reliance.
Uzbekistan Import Trend from India 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 38.55M | -35.3% | -9.76% |
| Feb | 49.72M | 28.98% | 1.55% |
| Mar | 39.72M | -20.13% | -35.09% |
| Apr | 34.26M | -13.74% | -27.89% |
| May | 50.74M | 48.11% | 6.97% |
| Jun | 37.76M | -25.59% | -36.23% |
| Jul | 61.79M | 63.66% | 22.94% |
| Aug | 60.29M | -2.44% | 5.7% |
| Sep | 54.53M | -9.55% | -10.44% |
| Oct | 74.45M | 36.54% | 39.08% |
| Nov | 75.79M | 1.79% | 17.75% |
| Dec | 63.73M | -15.91% | 6.96% |
| Total | 641.33M | - | - |
Uzbekistan Export Trend to India 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 1.15M | -61.75% | -22.64% |
| Feb | 3.74M | 223.84% | 60.88% |
| Mar | 4.21M | 12.53% | 323.45% |
| Apr | 1.92M | -54.47% | 33.14% |
| May | 1.49M | -22.38% | -36.24% |
| Jun | 1.07M | -28.08% | 7.4% |
| Jul | 1.91M | 78.28% | 22.03% |
| Aug | 3.72M | 95.15% | 28.09% |
| Sep | 1.51M | -59.33% | -57.37% |
| Oct | 25.17M | 1563.59% | 1490.66% |
| Nov | 1.69M | -93.28% | -20.58% |
| Dec | 1.48M | -12.38% | -50.88% |
| Total | 49.06M | - | - |
Get Historical Uzbekistan India Trade Records
Uzbekistan-India Top Trading Products in Whole Year 2023
Uzbekistan Export Profile: What Does Uzbekistan Sell to India
- Top Commodity: Copper (HS 74) dominates with 47.79% share.
- Demand Driver: India uses these raw materials for industrial processing, likely in electronics and construction.
- Concentration: High—copper alone accounts for nearly half of exports.
Uzbekistan Import Profile: What Does Uzbekistan Buy from India
- Top Commodity: Pharmaceuticals (HS 30) lead with 45.50% share.
- Dependency Nature: Critical technology dependency, as India supplies essential medicines and medical products.
Uzbekistan - India Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity—Uzbekistan exports raw materials (copper), while India supplies high-value pharmaceuticals and machinery.
- Value Chain Position: India holds the higher value-add position, exporting processed goods (pharmaceuticals, machinery) versus Uzbekistan’s raw material exports.
Import Analysis by Product: India to Uzbekistan (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 30 | 291.81M | 45.50% |
| 84 | 101.47M | 15.82% |
| 02 | 50.25M | 7.84% |
| 32 | 30.63M | 4.78% |
| 38 | 22.53M | 3.51% |
| 87 | 22.05M | 3.44% |
| 85 | 16.07M | 2.51% |
| 90 | 12.25M | 1.91% |
| 24 | 8.94M | 1.39% |
| 69 | 8.86M | 1.38% |
Export Analysis by Product: Uzbekistan to India (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 74 | 23.44M | 47.79% |
| 13 | 8.71M | 17.76% |
| 84 | 3.60M | 7.33% |
| 71 | 3.28M | 6.69% |
| 47 | 2.75M | 5.61% |
| 31 | 1.67M | 3.41% |
| 81 | 1.45M | 2.96% |
| 76 | 912.49K | 1.86% |
| 50 | 789.11K | 1.61% |
| 94 | 442.25K | 0.90% |
Check Detailed Uzbekistan-India Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Uzbekistan-India trade is likely to remain volatile in the near term, with Uzbekistan’s exports susceptible to erratic shipments (as seen in 2023’s extreme monthly swings). However, the resource-for-tech complementarity will sustain trade flows—India’s demand for Uzbek copper and Uzbekistan’s reliance on Indian pharmaceuticals and machinery are structurally entrenched. The $592M deficit may persist unless Uzbekistan diversifies its export basket or negotiates better terms for raw material sales. Watch for India’s industrial growth to drive copper demand, while pharmaceutical exports could face competition from other suppliers.
Strategic Moves
- Lock in Copper Contracts: Uzbek exporters should secure long-term agreements with Indian industrial buyers to stabilize revenue streams and reduce monthly volatility.
- Diversify Export Markets: Uzbekistan must reduce overreliance on India by targeting Southeast Asian and EU markets for raw materials, balancing trade exposure.
- Boost Pharma Localization: Uzbek importers should explore joint ventures with Indian drugmakers to shift from dependency to domestic production of critical medicines.
Frequently Asked Questions
How did Uzbekistan - India trade perform in 2023 Whole Year?
Uzbekistan exported $49.06M to India and imported $641.33M, showing extreme volatility in exports and mixed growth in imports. The trade deficit stood at $592.27M.
What are the top exports from Uzbekistan to India?
Copper (HS 74) dominated Uzbekistan’s exports to India, accounting for 47.79% of total shipments, primarily used in industrial processing.
What does Uzbekistan import from India?
Pharmaceuticals (HS 30) were the top import, making up 45.50% of Uzbekistan’s purchases from India, reflecting a critical dependency on medical supplies.
What is the trade balance between Uzbekistan and India?
Uzbekistan had a trade deficit of $592.27M with India in 2023, highlighting its heavy reliance on Indian imports compared to minimal exports.
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