Uzbekistan flag Uzbekistan: Economic and Political Overview

Foreign trade figures of Uzbekistan

Foreign Trade in Figures

According to the latest available data by the World Bank, Uzbekistan's foreign trade represents 72% of GDP (World Bank, latest data available). As a producer of oil, natural gas, gold, and cotton, natural resources dominate the country’s exports. According to the national Statistics Agency, in 2022, exports were primarily comprised of industrial goods (USD 4.4 billion), gold (USD 4.1 billion), and services (USD 4 billion), constituting 65% of the total. Uzbekistan's import pattern reflects its continuous industrialization and modernization efforts, with machinery and transport equipment (31.4%), industrial goods (18.8%), and chemicals and related products (13.8%) dominating the import structure.

The country’s main export destinations were Russia (17.0%), China (11.5%), Turkey (9.5%), Kazakhstan (8.2%), and Kyrgyzstan (6.1%), whereas imports came chiefly from China (20.9%), Russia (20.3%), Kazakhstan (10.5%), South Korea (7.5%), and Turkey (5.7% - data Statistics Agency). As of 2023, Uzbekistan has trade relations with over 140 countries and has signed trade agreements with 47 countries. In 2020, the country became an observer in the Eurasian Economic Union, and although Uzbekistan is not a member of the WTO yet, the nation is working on accession.

According to WTO data, in 2022, Uzbekistan exported goods for a total value of USD 15.2 billion, while imports totaled USD 28.2 billion. As per commercial services, Uzbekistan exported USD 4.8 billion against USD 7.3 billion in imports. The country has a structurally negative trade balance. The trade deficit was estimated at 17% of GDP in 2022 by the World Bank, compared to 16.5% one year earlier. Uzbekistan's foreign trade turnover surged by 23.9% year-on-year, reaching USD 62.6 billion in 2023, as reported by the country's Statistics Agency. Exports saw a 23.8% increase to USD 24.4 billion, while imports rose by 24% to USD 38.1 billion. However, the negative balance of foreign trade widened to USD 13.715 billion compared to USD 11.035 billion in the previous year. China emerged as Uzbekistan's leading foreign trade partner, accounting for 21.9% of the total trade turnover, followed by Russia (15.8%), Kazakhstan (7%), Turkey (5%), and South Korea (3.7%). Gold constituted the majority of Uzbekistan's exports, representing 33.4% of all exports, followed by services (21.2%), industrial goods (16.6%), and food products (7.9%). Meanwhile, the main import items included machinery and equipment (39.2%), manufactured goods (16.6%), chemical products (12.8%), food products (10.8%), and services (6.7%).

Foreign Trade Values 20192020202120222023
Imports of Goods (million USD) 21,86720,02023,88628,26436,781
Exports of Goods (million USD) 14,93013,28114,09215,28720,045
Imports of Services (million USD) 5,3983,5905,0277,3017,649
Exports of Services (million USD) 3,1271,7042,3004,8155,333

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP) 71.272.561.863.871.6
Trade Balance (million USD) -6,867-7,291-6,216-8,767-11,199
Trade Balance (Including Service) (million USD) -9,308-9,562-8,102-11,494-13,685
Imports of Goods and Services (Annual % Change) 42.313.4-14.923.413.6
Exports of Goods and Services (Annual % Change) 10.216.4-20.113.424.6
Imports of Goods and Services (in % of GDP) 44.444.237.740.244.3
Exports of Goods and Services (in % of GDP) 26.828.324.223.727.3

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20232024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) 28.45.812.010.210.0
Volume of imports of goods and services (Annual % change) 26.510.

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

International Economic Cooperation
Uzbekistan is a part of two big regional organizations - The Economic Eurasiatic Community and the Organization of Economic Cooperation.

Main Partner Countries

Main Customers
(% of Exports)
China 11.5%
Türkiye 9.5%
Kazakhstan 8.2%
Kyrgyzstan 6.1%
Afghanistan 3.4%
See More Countries 61.3%
Main Suppliers
(% of Imports)
China 22.4%
Kazakhstan 11.4%
South Korea 7.7%
Türkiye 5.9%
Germany 3.6%
See More Countries 49.1%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.


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Main Services

Source: United Nations Statistics Division, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: May 2024