Uzbekistan - Iran Trade 2023 Q1: Deficit & Resource Exchange
Key Market Takeaways: Uzbekistan - Iran Trade
The bilateral trade relationship between Uzbekistan and Iran shows volatile but recovering demand in Q1 2023.
- Trade Deficit Dominates: Uzbekistan posted a $49.87M deficit ($91.91M imports vs. $42.04M exports), with Iranian imports driving the imbalance despite a March export surge (+172.46% YoY).
- Resource-for-Tech Exchange: Uzbekistan - Iran trade statistics reveal a lopsided structure: cotton (47.73% of exports) flows to Iran, while plastics (35.26% of imports) and machinery anchor Iranian supply chains.
- Asymmetric Interdependence: Iran holds the value-add edge, supplying processed industrial inputs, while Uzbekistan remains a commodity exporter—highlighting untapped diversification potential.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Uzbekistan-Iran Trade Trend in Q1 2023
Uzbekistan Export Performance: Shipments to Iran
- Total Volume: $42.04M in Q1 2023.
- Growth Trend & Context:
- Explosive YoY growth in March (+172.46%) offset earlier weakness (Jan: -25.54%, Feb: +5%).
- March’s 143.66% MoM surge dominated quarterly performance.
- Key Volatility: March’s export value ($24.64M) tripled February’s ($10.11M).
Uzbekistan Import Performance: Sourcing from Iran
- Total Volume: $91.91M in Q1 2023.
- Growth Trend & Context:
- Mixed YoY trends: January (+6.42%) and February (+8.57%) growth reversed in March (-5.32%).
- Key Volatility: February peaked at $32.99M (16.95% MoM rise), followed by a March dip (-6.88% MoM).
Uzbekistan - Iran Trade Balance & Market Dynamics
- Net Position: Trade deficit of $49.87M (Imports $91.91M > Exports $42.04M).
- Relationship Status: Heavy reliance on Iranian imports, with exports showing volatile but recovering demand.
Uzbekistan Import Trend from Iran 2023 Q1 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 28.21M | 13.14% | 6.42% |
| Feb | 32.99M | 16.95% | 8.57% |
| Mar | 30.72M | -6.88% | -5.32% |
| Total | 91.91M | - | - |
Uzbekistan Export Trend to Iran 2023 Q1 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 7.29M | -11.73% | -25.54% |
| Feb | 10.11M | 38.68% | 5.0% |
| Mar | 24.64M | 143.66% | 172.46% |
| Total | 42.04M | - | - |
Get Historical Uzbekistan Iran Trade Records
Uzbekistan-Iran Top Trading Products in Q1 2023
Uzbekistan Export Profile: What Does Uzbekistan Sell to Iran
- Top Commodity: HS Code 52 (Cotton) dominates exports, accounting for 47.73% of total value.
- Demand Driver: Iran likely imports Uzbek cotton for textile manufacturing, indicating industrial processing demand.
- Concentration: Trade is highly concentrated, with cotton and HS Code 85 (electrical machinery) together making up 80.96% of exports.
Uzbekistan Import Profile: What Does Uzbekistan Buy from Iran
- Top Commodity: HS Code 39 (Plastics) leads imports with a 35.26% share.
- Dependency Nature: Uzbekistan relies on Iranian plastics for manufacturing, suggesting a raw material dependency for industrial output.
Uzbekistan - Iran Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Uzbekistan exports raw materials (cotton) and imports processed industrial inputs (plastics, machinery).
- Value Chain Position: Iran holds the higher value-add position, supplying processed goods (HS 39, 72) while Uzbekistan provides commodities (HS 52, 07).
Import Analysis by Product: Iran to Uzbekistan (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 39 | 32.41M | 35.26% |
| 72 | 15.02M | 16.34% |
| 08 | 7.36M | 8.00% |
| 28 | 5.34M | 5.81% |
| 34 | 4.71M | 5.13% |
| 27 | 4.40M | 4.79% |
| 29 | 3.97M | 4.32% |
| 84 | 3.94M | 4.28% |
| 73 | 3.16M | 3.44% |
| 04 | 2.13M | 2.31% |
Export Analysis by Product: Uzbekistan to Iran (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 52 | 20.06M | 47.73% |
| 85 | 13.97M | 33.23% |
| 31 | 3.06M | 7.28% |
| 07 | 1.78M | 4.23% |
| 50 | 1.03M | 2.44% |
| 08 | 714.59K | 1.70% |
| 25 | 500.26K | 1.19% |
| 84 | 477.83K | 1.14% |
| 47 | 207.52K | 0.49% |
| 27 | 40.90K | 0.10% |
Check Detailed Uzbekistan-Iran Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Uzbekistan’s trade with Iran is poised for volatile but upward momentum in the near term. The explosive March export rebound (+172.46% YoY) signals recovering demand for Uzbek cotton, while Iran’s steady supply of plastics and machinery suggests sustained industrial dependency. However, the $49.87M trade deficit remains a structural risk—expect import pressures to persist unless export diversification accelerates. Traders should anticipate short-term price swings in cotton and plastics, driven by Iran’s processing needs and Uzbekistan’s raw material reliance.
Strategic Moves
- Lock in Cotton Contracts: With HS52 (cotton) dominating 47.73% of exports, Uzbek suppliers should secure long-term agreements with Iranian textile manufacturers to stabilize revenue amid volatile monthly swings.
- Diversify Import Sources: Reduce reliance on Iranian plastics (HS39, 35.26% of imports) by exploring alternative suppliers in Turkey or China to mitigate deficit pressures and price sensitivity.
- Push Electrical Machinery Exports: Capitalize on Iran’s demand for HS85 (electrical machinery, 33.23% of exports) by targeting niche components where Uzbekistan holds a cost or logistics edge over competitors.
Frequently Asked Questions
How did Uzbekistan - Iran trade perform in 2023 Q1?
Uzbekistan exported $42.04M to Iran and imported $91.91M, resulting in a trade deficit of $49.87M. Exports showed volatile growth, while imports had mixed YoY trends.
What are the top exports from Uzbekistan to Iran?
The top exports are Cotton (HS Code 52) and Electrical Machinery (HS Code 85), together accounting for 80.96% of total exports.
What does Uzbekistan import from Iran?
The top import is Plastics (HS Code 39), making up 35.26% of total imports, indicating a reliance on industrial raw materials.
What is the trade balance between Uzbekistan and Iran?
Uzbekistan recorded a trade deficit of $49.87M with Iran in Q1 2023, reflecting higher imports than exports.
Uzbekistan - India Trade 2024 Q1: Widening Deficit
Uzbekistan's trade deficit with India hit $193.58M in Q1 2024, driven by India's pharmaceutical dominance. Explore Uzbekistan India trade trends and top trading products via yTrade data.
Uzbekistan - Iran Trade 2023 Q4: Export Boom Narrows Deficit
Uzbekistan Iran trade trend shows a surge in Q4 2023, with Uzbek exports doubling YoY. Top trading product includes raw cotton from Uzbekistan and Iranian machinery. Verified by yTrade data.
