Uzbekistan - Turkey Trade 2023 Q2: Widening Deficit & Tech Imports
Key Market Takeaways: Uzbekistan - Turkey Trade
The bilateral trade relationship between Uzbekistan and Turkey reflects persistent volatility and a widening trade deficit in Q2 2023.
- Economic Pulse: Uzbekistan posted a $162.56M trade deficit with Turkey, with imports ($406.25M) outpacing exports ($243.69M) by 1.7x. YoY declines in exports (-55.07% in April) highlight demand or supply pressures.
- Exchange Structure: Uzbekistan - Turkey trade statistics reveal a resource-for-tech model—Uzbekistan supplies raw cotton (43.15% of exports) and copper, while importing machinery (30.96% of imports) and industrial inputs.
- Strategic Interdependence: The partnership is asymmetrically complementary, with Turkey capturing higher value-add in manufactured goods and Uzbekistan reliant on critical technology imports.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Uzbekistan-Turkey Trade Trend in Q2 2023
Uzbekistan Export Performance: Shipments to Turkey
- Total Volume: $243.69M in Q2 2023.
- Growth Trend & Context:
- Sustained YoY declines: April (-55.07%), May (-49.05%), June (-53.67%), reflecting persistent demand or supply constraints.
- Key Volatility: April saw the sharpest MoM drop (-37.12%), with further declines in May (-4.01%) and June (-8.1%).
Uzbekistan Import Performance: Sourcing from Turkey
- Total Volume: $406.25M in Q2 2023.
- Growth Trend & Context:
- Mixed YoY performance: April (-23.6%), May (+20.21%), June (-8.72%), indicating unstable trade flows.
- Key Volatility: May posted the highest MoM growth (+8.83%), while June saw the steepest contraction (-12.95%).
Uzbekistan - Turkey Trade Balance & Market Dynamics
- Net Position: Trade deficit of $162.56M (Imports exceeded exports).
- Relationship Status: Uzbekistan remains a net importer from Turkey, with imports 1.7x exports in Q2. Volatility in both directions suggests uneven trade dependency.
Uzbekistan Import Trend from Turkey 2023 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 133.83M | 1.72% | -23.6% |
| May | 145.65M | 8.83% | 20.21% |
| Jun | 126.78M | -12.95% | -8.72% |
| Total | 406.25M | - | - |
Uzbekistan Export Trend to Turkey 2023 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 85.75M | -37.12% | -55.07% |
| May | 82.31M | -4.01% | -49.05% |
| Jun | 75.64M | -8.1% | -53.67% |
| Total | 243.69M | - | - |
Get Historical Uzbekistan Turkey Trade Records
Uzbekistan-Turkey Top Trading Products in Q2 2023
Uzbekistan Export Profile: What Does Uzbekistan Sell to Turkey
- Top Commodity: Cotton (HS 52) dominates exports, accounting for 43.15% of total value.
- Demand Driver: Turkey imports raw materials like cotton for textile manufacturing, indicating industrial processing demand.
- Concentration: High reliance on cotton, with the top two commodities (cotton and copper, HS 74) making up 71.91% of exports.
Uzbekistan Import Profile: What Does Uzbekistan Buy from Turkey
- Top Commodity: Machinery (HS 84) leads imports at 30.96% of total value.
- Dependency Nature: Heavy imports of machinery and plastics (HS 39) suggest critical technology and industrial input dependency.
Uzbekistan - Turkey Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity—Uzbekistan exports raw materials (cotton, copper) while importing high-value machinery and industrial goods.
- Value Chain Position: Turkey holds higher value-add, supplying advanced manufactured goods, while Uzbekistan provides upstream raw materials.
Import Analysis by Product: Turkey to Uzbekistan (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 125.78M | 30.96% |
| 39 | 36.60M | 9.01% |
| 85 | 21.55M | 5.30% |
| 38 | 16.63M | 4.09% |
| 32 | 16.17M | 3.98% |
| 73 | 15.51M | 3.82% |
| 96 | 13.19M | 3.25% |
| 30 | 12.76M | 3.14% |
| 94 | 12.17M | 3.00% |
| 34 | 8.78M | 2.16% |
Export Analysis by Product: Uzbekistan to Turkey (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 52 | 105.15M | 43.15% |
| 74 | 70.08M | 28.76% |
| 39 | 18.67M | 7.66% |
| 79 | 17.10M | 7.02% |
| 71 | 8.07M | 3.31% |
| 85 | 5.74M | 2.36% |
| 08 | 3.11M | 1.28% |
| 27 | 2.49M | 1.02% |
| 28 | 1.83M | 0.75% |
| 07 | 1.76M | 0.72% |
Check Detailed Uzbekistan-Turkey Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Uzbekistan-Turkey trade relationship is likely to face continued volatility in the near term, driven by uneven demand and supply-side constraints. Uzbekistan’s heavy reliance on cotton exports leaves it vulnerable to price swings and shifting Turkish textile demand, while machinery imports remain critical but susceptible to supply chain disruptions. However, the structural complementarity—raw materials for high-value industrial goods—suggests long-term potential if both sides stabilize trade flows. Traders should prepare for a period of consolidation in Q3 2023, with a possible rebound contingent on improved pricing agreements and logistics efficiency.
Strategic Moves
- Diversify Export Basket: Uzbek exporters must reduce dependence on cotton by promoting secondary commodities like copper (HS 74) or exploring new sectors (e.g., processed foods) to mitigate demand shocks.
- Lock in Machinery Supply Contracts: Importers should secure long-term agreements with Turkish manufacturers to hedge against price volatility and ensure steady access to critical industrial inputs.
- Optimize Trade Financing: Both sides should leverage trade credit facilities or bilateral payment mechanisms to smooth cash flow disruptions caused by erratic shipment volumes.
Frequently Asked Questions
How did Uzbekistan - Turkey trade perform in 2023 Q2?
Uzbekistan's exports to Turkey totaled $243.69M, with sustained YoY declines, while imports from Turkey reached $406.25M, showing mixed YoY performance.
What are the top exports from Uzbekistan to Turkey?
Cotton (HS 52) dominates, accounting for 43.15% of exports, followed by copper (HS 74), together making up 71.91% of total export value.
What does Uzbekistan import from Turkey?
Machinery (HS 84) leads imports at 30.96% of total value, followed by plastics (HS 39), reflecting dependency on industrial inputs.
What is the trade balance between Uzbekistan and Turkey?
Uzbekistan recorded a trade deficit of $162.56M in Q2 2023, with imports exceeding exports by 1.7x.
Uzbekistan - Turkey Trade 2023 Q1: Widening Deficit, Tech-for-Resource
Uzbekistan's trade deficit with Turkey hit $96.19M in Q1 2023, as copper and cotton exports swapped for machinery. Explore Uzbekistan Turkey trade trends and top trading products via yTrade data.
Uzbekistan - Turkey Trade 2023 Q4: Widening Deficit Crisis
Uzbekistan's trade deficit with Turkey deepens as exports drop 30.72% YoY. Explore Uzbekistan Turkey trade trends and top trading products like copper and machinery via yTrade data.
