Infographics: Trade between Uzbekistan and South Korea

Infographics: Trade between Uzbekistan and South Korea

Over the past four years, the volume of trade between the two countries has almost doubled. Despite the difficult circumstances of the pandemic, this positive trend was maintained last year.

In particular, foreign trade turnover grew from USD 1 billion in 2016 to USD 2.7 billion in 2019, having slightly decreased under the influence of the pandemic to USD 2.1 billion in 2020. The turnover in relation to 2016 in 2019 increased 2.6 times.

About the changes that have occurred in the trade between Uzbekistan and Korea for the first months of 2021 in the infographics of the Center for Economic Research and Reforms (CERR).

According to the results of the first 10 months of 2021, the volume of trade between Uzbekistan and Korea amounted to USD 1.5 billion. Exports increased by 11% to USD 42.5 million. At the same time, imports decreased by 14.5% to USD 1.48 billion.

Bilateral trade between Uzbekistan and South Korea is represented by the following enlarged commodity groups:

export of Uzbekistan to Korea:

    • food products - USD 3.7 million
    • machinery and equipment - USD 1.2 million,
    • chemical products and products from them - 5.0 million dollars,
    • energy carriers and oil products - USD 0.3 million,
    • metals and metal products - USD 5.3 million,
    • services - USD 15.1 million,
    • other - USD 11.8 million

imports of Uzbekistan from Korea:

  • food products - USD 3.7 million
  • machinery and equipment - 1,096 million dollars,
  • chemical products and products from them - USD 184.1 million,
  • energy carriers and oil products - USD 8.0 million,
  • metals and metal products - USD 29.1 million,
  • services - USD 84.0 million
  • other - USD 78.8 million

Foreign trade turnover between Uzbekistan and South Korea has doubled over the past 4 years, but it slightly decreased under the influence of the pandemic in 2020. If in 2016 it was USD 1.07 billion, then in 2019 it was USD 2.76 billion, and in 2020 it was USD 2.15 billion.

If the share of Korea in trade with Uzbekistan in 2016 was 4.4%, then in 2020 it is already 5.9%. The share of Korea's imports in trade with Uzbekistan rose over the same period from 7.2% to 9.9%.

The volume of Korea's investments in the Uzbek economy is more than USD 7 billion.

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