Turkmenistan has entered the top ten largest trading partners of Uzbekistan, confirming its significance for the country's economy. Trade turnover between Uzbekistan and Turkmenistan has been steadily growing.
According to data for January-September 2024, the total volume of mutual trade reached $867.8 million, which is 4.5% higher than the figure for the same period in 2023, when turnover amounted to $830.3 million, as reported by the news agency “Yeni Şafak.”
Dynamics of Export and Import: Changes in Figures
Exports from Tashkent to Ashgabat decreased by 48.3% and amounted to $27.4 million for the specified period in 2024 compared to $129.4 million in the previous year.
At the same time, imports to Uzbekistan from Turkmenistan showed significant growth: the volume reached $780.6 million, an increase of 11.3% compared to $700.9 million in January-September 2023.
Main Export and Import Goods
Both countries are actively developing the supply of goods within the framework of trade cooperation. Over the past two years, the main items of export and import have included:
Exports from Uzbekistan to Turkmenistan: Uzbekistan supplies Turkmenistan with textile products, chemical and pharmaceutical industry products, foodstuffs (in particular, fruits and vegetables), and household appliances. In 2024, Uzbekistan also expanded its exports to include construction materials and electrical goods.
Imports from Turkmenistan to Uzbekistan: Key imports from Turkmenistan are fuel, petroleum products, and natural gas, which provide a significant part of Uzbekistan's energy resources. Turkmenistan also supplies chemical industry products and textile materials to Uzbekistan, with cotton fabrics and fiber being particularly in demand.
General Trends in Uzbekistan's Foreign Trade
According to statistics, the total foreign trade turnover of Uzbekistan for January-September 2024 amounted to $48.2 billion, which is 7.7% higher than the figures for the same period in 2023 ($44.7 billion).
The rapid growth in imports demonstrates Uzbekistan's interest in long-term cooperation with Turkmenistan and the active development of import substitution projects.
Despite the decline in exports, the growing volume of imports confirms that trade cooperation between Uzbekistan and Turkmenistan remains strong.
Both countries continue to develop their interaction, which positively impacts their economic indicators and strengthens integration processes in Central Asia.
CentralasianLIGHT.org
November 12, 2024