At the invitation of the President of the Republic of Uzbekistan Shavkat Mirziyoyev, Federal Chancellor of the Federal Republic of Germany Olaf Scholz is paying an official visit to our country on September 15-16.
The Center for Economic Research and Reforms (CERR) has prepared an infographic that presents indicators of trade, economic and investment cooperation between Uzbekistan and Germany for the period 2016-2023.
Germany is one of the 10 largest partner countries of Uzbekistan in foreign trade turnover and ranks 7th in terms of trade turnover, 19th in terms of exports and 6th in terms of imports.
During the period 2016-2023, the volume of mutual trade between Uzbekistan and Germany increased by 2 times, from $529.1 million (in 2016) to $1.1 billion (in 2023), exports increased 2.4 times from $36.9 million to $87 million, imports doubled from $492.2 million to $986 million.
Germany's share in Uzbekistan's total trade turnover decreased from 2.2% to 1.7% over the period, increased from 0.3% to 0.4% in exports, and decreased from 4.1% to 2.6% in imports.
In Uzbekistan's mutual trade with Germany, more than 90% is imported, due to the supply of machinery, equipment, vehicles and other products from Germany, which are used for the development of Uzbekistan's industry.
In 2023, the structure of Uzbekistan's exports and imports with Germany included the following enlarged commodity items:
As of August 1, 2024, 276 enterprises with the participation of investors from Germany were operating in Uzbekistan, of which 57 enterprises have been established since the beginning of 2024.
In 2023, the volume of investments and loans from Germany to Uzbekistan amounted to $757.8 million, in the first half of 2024, this figure amounted to $577.7 million. In total, the accumulated volume of investments and loans from Germany in Uzbekistan exceeded $4.5 billion.
The main volume of German investments is directed to the manufacturing industry, in particular in the production of textiles, chemicals, and other non-metallic mineral products; the construction sector; the mining industry; trade, in particular cars and other sectors of the economy.
According to CERR estimates, there is potential for further expansion of cooperation in the field of energy, chemical, pharmaceutical, textile, electrical engineering, production of building materials, processing of agricultural products, mining and processing of minerals, transport logistics, etc., including by integrating the manufacturing sector of Uzbekistan into the global value chains of multinational companies in Germany.
CERR Public Relations Service
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