Infographics: Uzbekistan's trade with Belarus in 2023
The Center for Economic Research and Reforms analyzed Uzbekistan's trade with Belarus in 2023.
The Center for Economic Research and Reforms (CERR) has prepared an infographic that presents foreign trade relations between Uzbekistan and Belarus, import and export volumes by product categories for 2023.
Uzbekistan's trade with Belarus is subject to a free trade regime in accordance with a bilateral agreement.
Belarus is among the top 20 main trading partners of Uzbekistan in terms of foreign trade.
The analysis of the Center for Economic Research and Reforms shows that in recent years there has been a positive trend in the growth of mutual trade turnover.
In 2023, Uzbekistan's trade turnover with Belarus increased by 14.7% and amounted to $620.1 million, while export amounted to $119 million, and import increased by 21.7% to $501.1 million. The basis of import from Belarus in 2023 was machinery and equipment, industrial goods, food products and non-food raw materials.
It should be noted that by the end of 2023, the share of Belarus in the total foreign trade turnover of Uzbekistan amounted to 1.0%, total export – 0.5%, total import – 1.3%.
There are all prerequisites for bringing the volume of mutual trade turnover between the countries to $1 billion.
The CERR analysis shows that there is still an unrealized export potential to increase supplies to the Belarusian market of products that are imported into the country from third countries. These are textile products, copper products, certain types of electrical goods, fruits and vegetables, including dried fruits, cars and more.
Given that Uzbekistan's export to Belarus are 4-5 times less than import, the realization of untapped export potential can balance our mutual trade.
CERR Public Relations Sector
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