In the first seven months of 2024, Uzbekistan's foreign trade turnover amounted to $36.8 billion, which is $1.86 billion, or 5.3%, more than in the same period in 2023. This follows from a report by the Statistics Agency under the President of Uzbekistan, Gazeta.uz reports.
Year-on-year trade growth has slowed down (including both exports and imports). For comparison, in January-July 2023, trade turnover increased by 23.3% year-on-year.
Exports, including gold, decreased by 1.1% (in January-July 2023, there was an increase of 31%) to $14.79 billion. At the same time, exports excluding non-monetary gold accelerated by 10.9% to $10.59 billion (in the same period last year, growth was 10.4%).
Imports increased by 10.1% to $22.05 billion (in the first seven months of 2023 - by 18.1%). The share of imports in foreign trade turnover increased from 57.2% to 59.9%.
The trade balance increased from $5.07 billion to $7.26 billion.
The decrease in exports is explained by a reduction in gold deliveries by a quarter. While $5.64 billion worth of precious metal was exported abroad in the first seven months of last year, this year it was $4.19 billion (-25.6%).
During this period, Uzbekistan increased the export of vegetables by 16.5% to $801.9 million, meat and meat products - $20.4 million (+13.1 times), dairy products and eggs - $19.3 million (+2 times), oil and oil products - $399.9 million (+2.8 times), electricity - $68.6 million (+45.3%), inorganic chemicals - $516.2 million (+77.3%), fertilizers - $184 million (+19.3%), non-ferrous metals - $862.5 million (+6.5%), other transport equipment - $112 million (+4.3 times), and machinery for specific industries - $52.4 million (+65.4%).
Meanwhile, grain and grain products supply decreased - $195.6 million (-30.4%), beverages - $29 million (-34.3%), iron and steel - $124 million (-8.2%), automobiles, including parts - $199.5 million (-23.3%).
Tourism revenues increased by 41.4% from $1.23 billion to $1.75 billion. The share of tourism in service exports increased from 42.1% to 47.1%. Previously, most of it was accounted for by transport services, whose revenues are growing slightly slower - $1.4 billion (+11.3%).
Exports of telecommunications, computer, and information services increased by 57.8% from $189.5 million to $299.1 million.
Textile exports decreased by 4.4% to $1.78 billion.
Uzbekistan is gradually returning to last year's gas export volumes. Since the beginning of the year, foreign deliveries have reached $323.1 million, which is 5.5% less than in the same period last year ($341.9 million). In January, this figure was $21 million, in February - $5.7 million, in March - $18.7 million, in April - $6.9 million, in May - $7.6 million, in June - $181.5 million.
Gas imports reached $983.7 million, which is almost five times higher than the figure for the seven months of 2023. In May, the volume of imports was $180.4 million, in June - $166.3 million, in July - $174.2 million.
Imports of oil and oil products to Uzbekistan also increased - $1.3 billion (+29.7%), medical and pharmaceutical products - $1.05 billion (+24.6%, it is worth noting the price increase due to the abolition of VAT benefits, which may have led to an increase in imports in value terms), power generation machinery and equipment - $629.7 million (+1.5 times), electrical machinery, apparatus, and other instruments - $1.34 billion (+1.6 times), metalworking machinery - $182.7 million (+1.4 times),
Meanwhile, the import of automobiles, including parts, fell - $1.86 billion (-20.2%).
CentralasianLIGHT.org
August 26, 2024