Top Uzbekistan Exports 2024 Q2: Commodity Dominance

Uzbekistan Export Portfolio Overview in 2024 Q2

• Dominated by gemstones and precious metals (HS 71, 35.3%) and raw cotton (HS 52, 8.6%).
• High concentration risk: top two sectors account for nearly 44% of exports, heavily reliant on extractive and agricultural commodities.
• Reflects Uzbekistan’s role as a supplier of raw and semi-processed materials, not yet a diversified or high-value export economy.

Table: Uzbekistan Top Export Product in 2024 Q2 (Source: yTrade)

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Key Driver: Precious Metals & Gemstones

• Driven overwhelmingly by unwrought gold (HS 7108, 98.5% of sector value).
• Pure raw material export, with minimal local refining or jewelry manufacturing visible in the data.
• Reflects Uzbekistan’s natural resource endowment and established gold mining sector, rather than advanced processing capacity or design-led value addition.

Table: HS Code 71 Detailed Breakdown

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Key Driver: Cotton

• Dominated by cotton yarn (HS 5205, 86% of sector value), indicating a shift beyond raw cotton to basic processing.
• Acts as a partial counterweight to minerals: adds light manufacturing depth, but remains commodity-exposed.
• Strategically important for rural employment and industrial base development, though still vulnerable to global price swings.

Table: HS Code 52 Detailed Breakdown

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Key Driver: Mineral Fuels & Oils

• Led by liquefied petroleum gas (HS 2711, 54.8%) and petroleum oils (HS 2710, 30.1%).
• Represents a stable, legacy energy export stream, primarily regionally oriented.
• Underscores residual energy self-sufficiency and export capacity, but lacks diversification into petrochemicals or refined products.

Table: HS Code 27 Detailed Breakdown

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Frequently Asked Questions

What is Uzbekistan's largest export commodity in 2024 Q2?

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 $1.55B. This sector is primarily driven by exports of Gold (including gold plated with platinum) in unwrought forms (HS 7108), which accounts for 98.45% of the sector's total value.

Which specific precious metals products does Uzbekistan export most in 2024 Q2?

Within the HS 71 sector, the top exports are:

1. Gold (including gold plated with platinum) in unwrought forms (HS 7108) – $1.53B
2. Waste and scrap of precious metals (HS 7112) – $13.27M
3. Articles of precious metals (HS 7113) – $10.85M

Does Uzbekistan export cotton in 2024 Q2?

Yes, cotton (HS 52) is the second-largest export sector, valued at $378.90M. The primary product is Cotton yarn (not put up for retail sale) (HS 5205), which alone contributes 85.96% of the sector's total exports.

What are the main industries driving Uzbekistan's economy?

Uzbekistan's economy is heavily reliant on three key sectors:

1. Precious metals & stones (HS 71) – $1.55B (35.28%)
2. Cotton (HS 52) – $378.90M (8.60%)
3. Mineral fuels & oils (HS 27) – $357.86M (8.12%)
   The economy shows moderate concentration, with the top two sectors accounting for 43.88% of total exports.

How to find Uzbekistan precious metals suppliers?

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