Uzbekistan’s foreign trade hits $10.84 billion in two months as gold exports surge

In January-February 2025, Uzbekistan's foreign trade turnover amounted to $10.84 billion, according to a report by the National Statistics Committee.

Compared to the same period last year, the figure increased by 9.9%, driven by a significant rise in exports ($4.64 billion, +27.7%) and a slight decrease in imports ($6.2 billion, -0.6%). As a result, the trade deficit shrank to $1.55 billion (compared to $2.6 billion last year).

Last month, after a temporary pause in January, Uzbekistan resumed gold sales, exporting $1.73 billion worth of the precious metal (+31.3%). In 2024, total gold exports reached $7.48 billion, reflecting an 8.3% year-on-year decline.

China remains Uzbekistan's largest trading partner, with a turnover of $2.08 billion, and its top supplier of goods ($1.77 billion). Russia ranks second with $1.61 billion in trade, including $547.9 million in exports. However, trade with China fell by 2.36%, while trade with Russia declined by 8.3%.

Other key trade partners include Kazakhstan ($659.9 million), Turkey ($418 million), and Afghanistan ($276.2 million), with trade volumes either increasing or remaining stable compared to last year. The top 10 trade partners also feature South Korea ($260.5 million), Germany ($256.4 million), India ($195.3 million), France ($184.1 million), and Kyrgyzstan ($163 million).

Exports

Industrial goods remain Uzbekistan’s top export category, surpassing even gold. In January-February, revenue from industrial exports reached $576.4 million (-5.6%).

Revenue from textile and fabric exports totaled $261.8 million, marking a 27.2% decline. Meanwhile, non-ferrous metal exports grew by one-third to $225.2 million, while iron and steel exports plummeted threefold to $9.1 million.

Food products ranked second, with exports totaling $294.2 million (+24.3%). Key contributors were fruits and vegetables ($185.9 million, +20.9%) and grain ($80.7 million, +24.1%).

Exports of chemical products rose 10.9% to $275.3 million, with inorganic chemicals increasing 5.4% to $157.9 million. Fertilizer exports saw a significant jump of 66.9%, reaching $55.8 million.

Consumer goods and miscellaneous products exports totaled $180.2 million (-0.1%). Revenue from clothing exports amounted to $139.4 million (-8.2%), while exports of various finished goods surged 67% to $32.8 million.

Exports of fuel and energy resources rose by one-third to $143.6 million. Petroleum product exports fell slightly (-0.5%) to $66.8 million, but electricity exports doubled to $34.3 million. Gas exports more than doubled, exceeding $42 million compared to last year.

Machinery exports dropped 7.8% to $116.3 million, with automobile and auto parts exports leading the category at $37.1 million (-4.5%). Electrical equipment exports rose 14.4% to $33.7 million, while power generator exports soared 80.4% to $24.1 million.

Additionally, service exports reached $1.17 billion, accounting for 27.3% of Uzbekistan’s total trade exports. This sector saw a 61.5% year-on-year increase, with tourism ($472.2 million), transport ($465 million), and IT services ($151.7 million) leading the way.

Imports

Machinery remains Uzbekistan’s largest import category, totaling $2.19 billion (-10%). Key imports included:

• Specialized machinery – $468.7 million (+20.1%)
• Passenger vehicles – $459.5 million (-36.3%)
• Industrial non-specialized equipment – $422.8 million (+20%)
• Electrical equipment – $328.4 million (-0.3%)
• Communication devices – $169.3 million (-1.2%)

Car imports collapsed fivefold to just $76 million over two months, while imports of auto parts and accessories rose 23.7% to $253.9 million.

Industrial goods ranked second among imports at $989.9 million (-12.4%). The import of iron and steel ($466.1 million, -20.5%) and metal products ($131.1 million, -14.4%) declined, while imports of rubber products ($81 million, +16.1%) and textile goods ($89.3 million, +1.2%) increased.

Imports of chemical products grew 6.1% to $783.4 million, with medical supplies reaching $309.5 million (+1.6%) and primary plastics surging 33.8% to $141 million.

Foreign food imports amounted to $645.9 million (+20.8%), with key items including:

• Grain – $152.1 million (+2.3%)
• Sugar and confectionery – $99.4 million (+63.8%)
• Meat and meat products – $89.1 million (+56.9%)

Imports of fuel and energy resources fell 20.4% to $403.4 million. Oil and petroleum product imports dropped 3.6% to $291 million, with gasoline imports falling 18.8% to $78.8 million. Natural gas imports from Turkmenistan and Russia plunged threefold, totaling $35.8 million.

Spending on electricity imports fell 23.9% to $43.5 million, while coal imports declined 21.3% to $33.1 million.

Additionally, service imports, which account for over 10% of Uzbekistan’s total trade imports, surged 45.4%, exceeding $660 million. The leading service import categories were tourism ($398.2 million), transport ($128.7 million), and IT services ($56.2 million).