Uzbekistan - India Trade 2023 Q2: Deficit & Tech Exchange
Key Market Takeaways: Uzbekistan - India Trade
The bilateral trade relationship between Uzbekistan and India is marked by a heavy reliance on Indian imports and volatile growth trends in 2023 Q2.
- Trade Deficit Dominates: Uzbekistan posted a $118.29M deficit ($122.76M imports vs. $4.47M exports), with Indian imports declining sharply YoY (-27.89% in April).
- Resource-for-Tech Exchange: Uzbekistan - India trade statistics reveal a lopsided structure: raw materials (lac, metals) flow to India, while high-value pharmaceuticals (44.09% of imports) and machinery dominate return shipments.
- Asymmetric Interdependence: India holds the strategic advantage, supplying critical tech-driven goods, while Uzbekistan’s export basket remains narrow and commodity-dependent.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Uzbekistan-India Trade Trend in Q2 2023
Uzbekistan Export Performance: Shipments to India
- Total Volume: $4.47M in Q2 2023.
- Growth Trend & Context: YoY growth was mixed, with April up 33.14% but May down 36.24%. No news to contextualize the swings.
- Key Volatility: Steep MoM declines each month, worst in April (-54.47%).
Uzbekistan Import Performance: Sourcing from India
- Total Volume: $122.76M in Q2 2023.
- Growth Trend & Context: YoY sharply lower (-27.89% in April, -36.23% in June), indicating reduced demand or supply constraints. No news to explain.
- Key Volatility: May saw a 48.11% MoM surge, but June dropped 25.59%.
Uzbekistan - India Trade Balance & Market Dynamics
- Net Position: Trade deficit of $118.29M (Imports $122.76M > Exports $4.47M).
- Relationship Status: Heavy reliance on Indian imports, with minimal export reciprocity.
Uzbekistan Import Trend from India 2023 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 34.26M | -13.74% | -27.89% |
| May | 50.74M | 48.11% | 6.97% |
| Jun | 37.76M | -25.59% | -36.23% |
| Total | 122.76M | - | - |
Uzbekistan Export Trend to India 2023 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 1.92M | -54.47% | 33.14% |
| May | 1.49M | -22.38% | -36.24% |
| Jun | 1.07M | -28.08% | 7.4% |
| Total | 4.47M | - | - |
Get Historical Uzbekistan India Trade Records
Uzbekistan-India Top Trading Products in Q2 2023
Uzbekistan Export Profile: What Does Uzbekistan Sell to India
- Top Commodity: HS Code 13 (Lac, gums, resins, vegetable saps) dominates with 37.89% share.
- Demand Driver: India uses these for industrial processing, likely in pharmaceuticals or adhesives.
- Concentration: The top 3 exports (HS 13, 71, 47) account for 64% of total exports, indicating moderate concentration.
Uzbekistan Import Profile: What Does Uzbekistan Buy from India
- Top Commodity: HS Code 30 (Pharmaceutical products) leads with 44.09% share.
- Dependency Nature: Critical technology dependency, as pharmaceuticals require specialized manufacturing.
Uzbekistan - India Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Uzbekistan supplies raw materials (lac, metals) while India exports high-value pharmaceuticals and machinery.
- Value Chain Position: India holds the higher value-add position, evidenced by advanced exports (pharmaceuticals, machinery) versus Uzbekistan’s raw material shipments.
Import Analysis by Product: India to Uzbekistan (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 30 | 54.12M | 44.09% |
| 84 | 14.96M | 12.19% |
| 02 | 9.39M | 7.65% |
| 32 | 7.19M | 5.86% |
| 24 | 4.15M | 3.38% |
| 38 | 4.03M | 3.28% |
| 87 | 3.87M | 3.15% |
| 90 | 3.13M | 2.55% |
| 17 | 2.20M | 1.79% |
| 69 | 2.15M | 1.75% |
Export Analysis by Product: Uzbekistan to India (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 13 | 1.69M | 37.89% |
| 71 | 711.58K | 15.91% |
| 47 | 456.00K | 10.20% |
| 94 | 411.57K | 9.20% |
| 76 | 320.76K | 7.17% |
| 84 | 287.01K | 6.42% |
| 63 | 215.06K | 4.81% |
| 41 | 145.65K | 3.26% |
| 50 | 62.45K | 1.40% |
| 73 | 48.40K | 1.08% |
Check Detailed Uzbekistan-India Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Uzbekistan-India trade relationship is likely to face continued volatility in the near term, with Uzbekistan’s export performance remaining weak and its import dependency on Indian pharmaceuticals and machinery persisting. Given the sharp YoY declines in imports from India (-27.89% in April, -36.23% in June), demand may stabilize at lower levels unless new supply agreements or policy incentives emerge. However, the structural complementarity—Uzbekistan’s raw material exports (lac, metals) for India’s high-value tech and pharma—suggests long-term potential if trade imbalances are addressed. Traders should prepare for a period of consolidation, with growth contingent on diversification and value-addition strategies.
Strategic Moves
- Diversify Export Basket: Uzbek exporters must reduce reliance on HS Code 13 (lac/gums) by targeting India’s growing demand for textiles, processed foods, or intermediate goods, where Uzbekistan has untapped potential.
- Secure Pharma Supply Chains: Given India’s dominance in pharmaceutical exports (44.09% share), Uzbek importers should negotiate long-term contracts with Indian suppliers to mitigate price volatility and ensure stable access to critical medicines.
- Leverage Trade Diplomacy: The Uzbek government should push for bilateral agreements that incentivize Indian investment in local pharmaceutical or machinery production, reducing the trade deficit and upgrading Uzbekistan’s value chain position.
Frequently Asked Questions
How did Uzbekistan - India trade perform in 2023 Q2?
Uzbekistan exported $4.47M to India, with mixed YoY growth, while imports from India totaled $122.76M, showing sharp YoY declines.
What are the top exports from Uzbekistan to India?
Top exports include HS Code 13 (Lac, gums, resins), HS 71 (Pearls/precious stones), and HS 47 (Pulp of wood), accounting for 64% of total exports.
What does Uzbekistan import from India?
Pharmaceutical products (HS Code 30) dominate imports, representing 44.09% of the total, followed by machinery and other high-value goods.
What is the trade balance between Uzbekistan and India?
Uzbekistan recorded a trade deficit of $118.29M, with imports significantly exceeding exports, reflecting heavy reliance on Indian goods.
Uzbekistan - India Trade 2023 Whole Year: $641M Deficit
Uzbekistan's trade with India in 2023 shows a $641M deficit, with raw copper and pharmaceuticals dominating. Explore Uzbekistan India trade trends and top products via yTrade data.
Uzbekistan - India Trade 2023 Q3: Widening Deficit & Volatility
Uzbekistan's trade deficit with India hit $169.47M in Q3 2023, driven by tech imports. Explore Uzbekistan India trade trends and top trading products via yTrade data.
