Infographics: Uzbekistan's trade with Russia
The Center for Economic Research and Reforms analyzed Uzbekistan's trade with Russia for 6 years.
On October 5-7, at the invitation of President of the Russian Federation Vladimir Putin, President of the Republic of Uzbekistan Shavkat Mirziyoyev is on an official visit to this country.
The Center for Economic Research and Reforms (CERR) has prepared infographics that present foreign trade relations between Uzbekistan and Russia, import and export volumes by commodity categories for 2022 and 8 months of this year.
Uzbekistan's trade with Russia is subject to a "free trade" regime in accordance with bilateral and multilateral (within the CIS) agreements.
Over the past 6 years, Uzbekistan's trade turnover with Russia has grown almost 2 times from $4.73 billion in 2017 to $9.33 billion in 2022, export have grown 1.5 times from $2.0 billion up to $3.1 billion, import increased 2.3 times from 2.7 billion up to $6.23 billion.
In 2022, Uzbekistan's trade turnover with Russia increased by 23.6% and amounted to $9329.8 million, while export showed a significant increase of 48.4% to $3099.1 million, import increased by 14.1% to $6230.7 million.
Among Uzbekistan's foreign trade partners in terms of bilateral trade in 2022, Russia took the 1st place with an 18.6% share in trade turnover, while Russia's share in Uzbekistan's export was 16.1%, in imports 20.3%.
For the 8 months of this year, the trade turnover of Uzbekistan with Russia increased by 7.4% to $6167.9 million compared to the same period last year, export by 5.1% to $1973.5 million, import by 8.5% to $4194.4 million. The share of Russia in the total foreign trade turnover of Uzbekistan was 15.4%, the share in export was 12%, in import 17.8%.
It should be noted that in January-August of this year, among the countries of Uzbekistan's trading partners, in terms of trade turnover, Russia took 2nd place with a share of 15.4% (1st - China - 20.7%), but at the same time Russia took 1st place in Uzbekistan's total export with a share of 12% (China's share in export - 10.6%).
In this regard, Russia is an important trading partner for Uzbekistan, as the bulk of finished agricultural and industrial products are exported to Russia.
Uzbekistan exports textile products and clothing, fresh and processed fruit and vegetable products, chemical products, some types of industrial and other finished products, as well as services to Russia. For example, according to the results of January-August of this year, 42% of the total export of agricultural products was exported to Russia.
In turn, Uzbekistan imports products from Russia that are important for production needs and the consumer market, in particular, industrial goods, including ferrous and non-ferrous metals, and products made from them, mechanical and electrical equipment, wood, petroleum products, chemical products, food products, as well as services. For example, according to the results of January-August of this year, Russia accounted for 35.2% of import of this type of products in the total import of industrial products of Uzbekistan.
As of September 1, 2023, Russia ranks first in the number of enterprises with foreign investments established in Uzbekistan – 2,849 enterprises or 22.3% of the total number of operating enterprises with foreign investments. At the same time, Russia is also the leader in the number of newly created enterprises with foreign investments in the period January-August of this year – 425 enterprises.
In the 1st half of this year, Russia accounted for 18.8% of the total volume of foreign investments and loans disbursed. The total volume of accumulated Russian investments in the economy of Uzbekistan is more than $10 billion.
CERR Public Relations Service
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