Top Uzbekistan Exports 2023 Q1: Commodity Dominance

Uzbekistan Export Portfolio Overview in 2023 Q1

• Dominated by precious metals/stones (HS 71, 50.7%) and cotton (HS 52, 7.9%), reflecting a commodity-heavy export profile.
• Extreme concentration risk: Top sector represents over half of all exports, creating vulnerability to price swings in global gem/metals markets.
• This structure underscores Uzbekistan’s role as a resource exporter—leveraging mineral wealth and agricultural capacity, but with limited value-added diversification.

Table: Uzbekistan Top Export Product in 2023 Q1 (Source: yTrade)

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Key Driver: Precious Metals & Stones (HS 71)

• Driven overwhelmingly by unwrought gold (HS 7108, 99.9% of sector value).
• Product type: Raw material—indicating export of minimally processed bullion rather than finished jewelry or precision components.
• Insight: This dominance stems from Uzbekistan’s substantial gold reserves and mining sector, not value-added craftsmanship or manufacturing sophistication. Export volumes are tied to global safe-haven demand and central bank purchasing.

Table: HS Code 71 Detailed Breakdown

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Key Driver: Cotton (HS 52)

• Primarily cotton yarn (HS 5205, 86.3% of sector)—spun but not woven or finished into garments.
• Acts as a complement to precious metals: both are bulk commodity exports with low value-addition, reinforcing the extractive/agricultural export model.
• Strategic as a historic sector with large-scale production, but exposed to commodity cycles and water/land constraints.

Table: HS Code 52 Detailed Breakdown

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Key Driver: Copper & Articles (HS 74)

• Led by refined copper (HS 7403, 42.1%) and copper wire (HS 7408, 33.7%)—intermediate industrial products.
• Represents a stable legacy sector built on domestic copper mining and smelting capacity.
• Role: Provides some insulation from pure precious metal reliance, but still operates within the broader metals complex—subject to global industrial demand and China’s import appetite.

Table: HS Code 74 Detailed Breakdown

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Frequently Asked Questions

What is Uzbekistan's largest export commodity in 2023 Q1?

The largest export category is Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal, and articles thereof; imitation jewellery; coin (HS 71), valued at $2.41B. This sector is primarily driven by exports of Gold (including gold plated with platinum), unwrought or in semi-manufactured forms, or in powder form (HS 7108), which accounts for 99.92% of the sector's exports.

Which specific precious metals and stones products does Uzbekistan export most in 2023 Q1?

Within the HS 71 sector, the top exports are:

1. Gold (HS 7108) – $2.41B (99.92% share)
2. Articles of jewelry and parts thereof, of precious metal (HS 7113) – $1.26M (0.05% share)
3. Imitation jewelry (HS 7112) – $545.54K (0.02% share)

Does Uzbekistan export cotton in 2023 Q1?

Yes, cotton (HS 52) is the second-largest export sector, valued at $374.64M. The primary product is Cotton yarn (not put up for retail sale) (HS 5205), which alone contributes 86.26% of the sector’s exports.

What are the main industries driving Uzbekistan's economy?

Uzbekistan’s economy is heavily reliant on precious metals (HS 71, 50.72%), followed by cotton (HS 52, 7.88%) and copper products (HS 74, 5.41%). Together, these three sectors account for 64.01% of total exports, indicating a concentrated export structure.

How to find Uzbekistan precious metals suppliers?

You can access a list of active suppliers and exporters for precious metals (HS 71) using the yTrade database, which provides detailed shipment records and company contacts.