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20 August 2019

Foreign trade turnover grew by almost 7 billion USD for the first half of the year

According to the results of January-July 2019, the foreign trade turnover of the republic for the reporting period amounted to 24 526.8 million US dollars and increased by 6 834.0 million US dollars, or 38.6% more than the corresponding period last year. Of this number, exports reached $ 10,880.2 million (growth rate – 44.5%), while imports reached $ 13,646.6 million (growth rate – 34.3%). A passive balance of foreign trade in the amount of $ 2,766.4 million was noted.

Uzbekistan carried out trade relations with more than 167 countries of the world. The largest volume of its foreign trade turnover among the countries of the world was recorded with China (18.5%), the Russian Federation (14.6%), Kazakhstan (8.1%), the Republic of Korea (6.5%), Turkey (5.7% ), Germany (2.2%) and Kyrgyzstan (2.1%).

Positive changes are observed in the structural dynamics of foreign trade turnover. So, compared with the same period last year, the share of exports in foreign trade grew by 1.8 percentage points.

Due to traditional trade relations with the CIS countries and comprehensive support of foreign trade, the share of mutual trade with the CIS member states in the foreign trade turnover of Uzbekistan in January-July 2019 reached 33.2% ($ 8,147.4 million), the growth rate foreign trade turnover, compared with the previous year, amounted to 119.5%.

Current trade relations with other foreign partners also continue to develop. So, the share of other countries in foreign trade turnover in the reporting period reached 66.8% (16,379.3 million US dollars), the growth rate of foreign trade turnover, compared to the same period last year, amounted to 150.6%.

The main partners in the export of goods and services in foreign trade in January-July 2019 were China (16.4% of total exports), Russia (12.8%), Kazakhstan (7.6%), Turkey (6.1 %), Kyrgyzstan (3.9%), Afghanistan (2.9%) and Tajikistan (1.6%).

Thus, it becomes obvious that as a result of large-scale reforms of the foreign economic activity of the Republic of Uzbekistan and strong ties with the countries of the world, the export potential of our state is growing.