Top Uzbekistan Exports 2023 Q4: Commodity Dominance

Uzbekistan Export Portfolio Overview in 2023 Q4

• Exports are dominated by precious metals/stones (HS 71, 45.2%) and cotton (HS 52, 7.8%), reflecting a classic resource-driven economy.
• Concentration risk is extremely high; nearly half of all export value hinges on a single commodity category.
• This structure confirms Uzbekistan's role as a supplier of raw materials to global manufacturing and luxury goods markets, with limited value-added diversification.

Table: Uzbekistan Top Export Product in 2023 Q4 (Source: yTrade)

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Key Driver: Precious Metals & Stones (HS 71)

• The sector is almost entirely driven by HS 7108: Gold (including gold plated with platinum), unwrought or in semi-manufactured forms.
• This is a raw material export, with minimal local refining or jewelry manufacturing evident in the export data.
• Dominance exists due to Uzbekistan's substantial gold mining sector (e.g., Muruntau mine), leveraging natural resource endowment rather than labor or tech advantages.

Table: HS Code 71 Detailed Breakdown

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Key Driver: Cotton (HS 52)

• The sector is powered by HS 5205: Cotton yarn (not retail), single, uncombed, with 85%+ cotton content.
• This acts as a complement to gold, representing another raw material pillar, but with slightly more processing (spinning yarn vs. unwrought metal).
• It is strategically important as a legacy sector, employing rural labor and anchoring textile supply chains, though still at a low value-add stage.

Table: HS Code 52 Detailed Breakdown

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Key Driver: Copper & Articles (HS 74)

• The sector is led by HS 7403: Refined copper and copper alloys, unwrought, indicating export of primary metal.
• This is a stable legacy industry, reflecting Uzbekistan's mining base, but with more downstream potential than gold or cotton if semi-fabricated exports (e.g., HS 7408: copper wire) expand.
• Its role is as a secondary mineral export, diversifying slightly within the extractive model but not altering the fundamental resource-export profile.

Table: HS Code 74 Detailed Breakdown

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Frequently Asked Questions

What is Uzbekistan's largest export commodity in 2023 Q4?

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 $2.58B. This sector is primarily driven by exports of Gold (including gold plated with platinum) in unwrought forms (HS 7108), which accounts for 97.46% of the sector's total value.

Which specific precious metals products does Uzbekistan export most in 2023 Q4?

Within the HS 71 sector, the top exports are:

1. Gold (including gold plated with platinum) in unwrought forms (HS 7108) – $2.52B
2. Silver in unwrought forms (HS 7106) – $44.80M
3. Articles of jewellery and parts thereof (HS 7113) – $13.22M

Together, these three products account for 99.71% of the sector's exports.

Does Uzbekistan export Cotton in 2023 Q4?

Yes, Cotton (HS 52) is Uzbekistan’s second-largest export sector, valued at $442.97M. The primary product is Cotton yarn (not put up for retail sale) (HS 5205), which alone contributes 82.61% ($365.95M) of the sector’s total exports.

What are the main industries driving Uzbekistan's economy?

Uzbekistan’s economy is heavily reliant on its top three export sectors:

1. Precious metals & stones (HS 71) – $2.58B (45.17%)
2. Cotton (HS 52) – $442.97M (7.75%)
3. Copper & articles (HS 74) – $308.23M (5.39%)

These three industries account for 58.31% 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, company contacts, and trade trends for Uzbekistan’s gold and silver exporters.