Top Uzbekistan Exports 2024 Q4: Commodity Dominance

Uzbekistan Export Portfolio Overview in 2024 Q4

• Exports are heavily concentrated in raw materials, with precious metals/stones (HS 71) accounting for 35.6% and cotton (HS 52) for 6.2%.
• Concentration risk is high, with the top two sectors representing over 40% of total exports, exposing the economy to commodity price volatility.
• This structure reinforces Uzbekistan's role as a supplier of low-processed, resource-based goods, typical of an economy in early-stage industrial diversification.

Table: Uzbekistan Top Export Product in 2024 Q4 (Source: yTrade)

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Key Driver: Precious Metals & Stones

• The sector is almost entirely driven by HS 7108 (Gold, unwrought), representing 97% of the category's value.
• This is a pure raw material export, with minimal local value addition beyond extraction and refining.
• Dominance stems from Uzbekistan's substantial gold reserves and established mining infrastructure, not labor or tech advantages.

Table: HS Code 71 Detailed Breakdown

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Key Driver: Cotton

• The category is led by HS 5205 (Cotton yarn), making up 83% of exports.
• Unlike gold, this represents a semi-processed good, indicating some downstream textile capacity.
• It acts as a partial counterweight to pure mining, leveraging agricultural resources and providing broader employment, though still subject to commodity cycles.

Table: HS Code 52 Detailed Breakdown

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Key Driver: Mineral Fuels & Oils

• The main product is HS 2711 (Petroleum gases), accounting for 50% of the sector.
• This is another raw material export, primarily reflecting natural gas production.
• Its role is that of a stable legacy sector, underpinned by existing energy reserves but offering limited growth or value-add potential.

Table: HS Code 27 Detailed Breakdown

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Frequently Asked Questions

What is Uzbekistan's largest export commodity in 2024 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 $1.74B. This sector is primarily driven by exports of Gold (including gold plated with platinum) in unwrought forms (HS 7108), which alone accounts for 96.95% of the sector's total value.

Which specific precious metals and stones products does Uzbekistan export most in 2024 Q4?

Within the HS 71 sector, the top exports are:

1. Gold (including gold plated with platinum) in unwrought forms (HS 7108) at $1.69B.
2. Silver in unwrought forms (HS 7106) at $49.80M.
   Together, these two products account for 99.81% of the sector's exports.

Does Uzbekistan export cotton in 2024 Q4?

Yes, Cotton (HS 52) is Uzbekistan's second-largest export sector, valued at $301.11M. The primary product is Cotton yarn (not put up for retail sale) (HS 5205), which makes up 83.02% 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) at $1.74B (35.57%).
2. Cotton (HS 52) at $301.11M (6.15%).
3. Mineral fuels/oils (HS 27) at $295.55M (6.04%).
   The top two sectors alone contribute 41.72% of total exports, indicating a concentrated export structure.

How to find Uzbekistan precious metals and stones suppliers?

You can access a list of active suppliers and exporters for Precious metals and stones (HS 71) using the yTrade database, which provides detailed shipment records and company contacts for gold, silver, and other high-value commodities.