Uzbekistan - United States Trade 2024 Q2: Explosive Growth & Deficit

Key Market Takeaways: Uzbekistan - United States Trade

The bilateral trade relationship between Uzbekistan and United States shows explosive growth amid high volatility in Q2 2024.

• $185M Total Trade, Deficit for Uzbekistan: Uzbekistan ran a $62M trade deficit with the U.S. ($124M imports vs. $62M exports), though exports surged 245-6535% YoY from a negligible base.
• Resource-for-Tech Exchange: Uzbekistan - United States trade statistics reveal a lopsided exchange—82.8% of Uzbek exports are mineral fuels (HS 27), while 30.9% of imports are U.S. aircraft/spacecraft (HS 88).
• Emerging Asymmetry: The U.S. holds structural advantage with high-value tech exports, while Uzbekistan’s export growth signals early-stage diversification beyond raw materials.

This bilateral trade snapshot is based on verified customs data from the yTrade database.

Uzbekistan-United States Trade Trend in Q2 2024

Uzbekistan Export Performance: Shipments to United States

• Total Volume: $61.54M in Q2 2024.
• Growth Trend & Context:
  • Explosive YoY growth across all months (245.44% in Apr, 1651.27% in May, 6535.49% in Jun), signaling a structural shift or base effect from negligible prior-year volumes.
• Key Volatility: June saw the highest absolute value ($26.65M) and MoM surge (49.09%), but May’s YoY spike (1651.27%) was the most dramatic.

Uzbekistan Import Performance: Sourcing from United States

• Total Volume: $123.70M in Q2 2024.
• Growth Trend & Context:
  • Mixed YoY performance (-4.44% in Apr, +165.41% in May, -5.87% in Jun), suggesting volatile demand or supply chain adjustments.
• Key Volatility: May dominated with $73.95M (218.85% MoM jump), while April and June saw sharp declines (-65.08% and -64.08% MoM, respectively).

Uzbekistan - United States Trade Balance & Market Dynamics

• Net Position: Trade deficit of $62.16M (Imports $123.70M > Exports $61.54M).
• Relationship Status: Uzbekistan remains a net importer from the U.S., but export growth (though from a low base) hints at emerging diversification. Volatility in imports reflects uneven procurement patterns.

Uzbekistan Import Trend from United States 2024 Q2 (Source: yTrade)**

Uzbekistan Export Trend to United States 2024 Q2 (Source: yTrade)**

Get Historical Uzbekistan United States Trade Records

Uzbekistan-United States Top Trading Products in Q2 2024

Uzbekistan Export Profile: What Does Uzbekistan Sell to United States

• Top Commodity: Rank #1 export is HS 27 (Mineral Fuels & Oils) at 82.82% of total exports.
• Demand Driver: United States imports these for energy supply and industrial processing.
• Concentration: Trade is highly concentrated, with HS 27 dominating over 80% of exports.

Uzbekistan Import Profile: What Does Uzbekistan Buy from United States

• Top Commodity: Rank #1 import is HS 88 (Aircraft & Spacecraft) at 30.94% of total imports.
• Dependency Nature: Reflects critical technology dependency, particularly in aviation and high-tech machinery.

Uzbekistan - United States Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity—Uzbekistan supplies energy (HS 27) while importing advanced machinery (HS 88, 84).
• Value Chain Position: United States holds the higher value-add position, exporting complex machinery (HS 88, 84, 90) versus Uzbekistan’s raw material exports.

Import Analysis by Product: United States to Uzbekistan (Source: yTrade)

Export Analysis by Product: Uzbekistan to United States (Source: yTrade)

Check Detailed Uzbekistan-United States Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

The Uzbekistan - United States trade relationship is poised for continued expansion in the near term, driven by Uzbekistan’s explosive export growth in mineral fuels (HS 27) and sustained demand for U.S. high-tech machinery (HS 88). While the trade deficit remains a concern, the structural complementarity—Uzbekistan’s energy resources for U.S. advanced technology—creates a stable foundation for deeper integration. However, volatility in import demand suggests traders should prepare for uneven procurement cycles, particularly in aerospace and industrial equipment. Over the next year, expect Uzbekistan’s export diversification efforts to gain momentum, potentially reducing reliance on a single commodity.

Strategic Moves

• Lock in Energy Contracts: Uzbek exporters of mineral fuels should secure long-term supply agreements with U.S. buyers to stabilize revenue streams amid fluctuating global oil prices.
• Diversify Import Sources: Uzbek importers must reduce dependency on U.S. aircraft (HS 88) by exploring alternative suppliers in Europe or Asia to mitigate supply chain disruptions.
• Invest in Value-Add Exports: The Uzbek government and private sector should prioritize upgrading raw material exports (e.g., refining HS 27 products) to capture higher margins and reduce the trade deficit.

Frequently Asked Questions

How did Uzbekistan - United States trade perform in 2024 Q2?

Uzbekistan's exports to the U.S. surged (245.44% YoY in April) to $61.54M, while imports from the U.S. were volatile, totaling $123.70M.

What are the top exports from Uzbekistan to United States?

HS 27 (Mineral Fuels & Oils) dominated at 82.82% of Uzbekistan’s exports to the U.S., reflecting energy supply demand.

What does Uzbekistan import from United States?

HS 88 (Aircraft & Spacecraft) led at 30.94% of imports, highlighting Uzbekistan’s reliance on U.S. high-tech machinery.

What is the trade balance between Uzbekistan and United States?

Uzbekistan had a trade deficit of $62.16M (Q2 2024), with imports ($123.70M) far exceeding exports ($61.54M).