The Center for Economic Research and Reforms (CERR) conducted an analysis of trade, economic, and investment cooperation between Uzbekistan and Japan over the past 8 years.
Over the period 2017–2024 bilateral trade turnover increased 2.3 times, rising from $166.2 mn to $388.6 mn. Exports grew by 15.1%, from $14.5 m to $16.7 m, while imports expanded 2.5 times, from $151.7 mn to $371.9 mn.
Over the past 8 years, Uzbekistan’s annual exports to Japan averaged around $17 mn.
In 2024, trade turnover between Uzbekistan and Japan increased by 64.1%, from $236.8 mn to $388.6 mn. Uzbekistan’s exports to Japan totaled $16.7 mn, including chemical products worth $5.7 mn (34.1%), industrial goods amounting to $2.0 mn (11.8%), food products valued at $0.5 mn (3.0%), as well as services totaling $8.4 mn (50.4%).
Imports amounted to $371.9 mn and consisted primarily of machinery and transport equipment worth $337.1 mn (90.7%), industrial goods valued at $17.4 mn (4.7%), various manufactured articles totaling $7.2 mn (1.9%), as well as services worth $4.4 mn (1.2%), among other items.
For the first 10 months of 2025, Uzbekistan–Japan trade turnover reached $326.8 mn, compared to the same period of 2024.
Japan is actively involved in investment projects in Uzbekistan aimed at modernizing the energy sector, the chemical industry, and water supply systems. Projects have been implemented in Uzbekistan with the participation of leading Japanese companies such as Mitsubishi, Marubeni, Itochu, Sumitomo, and others.
Over the period 2017–2024, the volume of foreign direct investment and loans from Japan to Uzbekistan, including those provided through JICA, amounted to $184 mn, with $19.6 mn recorded in 2024 alone.
At present, 121 companies with Japanese capital are successfully operating in Uzbekistan across a wide range of economic sectors, including 29 joint ventures and 92 enterprises fully owned by Japanese investors.
Promising areas for the further development of investment cooperation with Japan include joint projects related to the green transformation agenda, encompassing decarbonization, digitalization, and workforce training in sectors critical to Uzbekistan’s sustainable development.
Japan also has significant potential to support human capital development in Uzbekistan, which aligns well with the priorities and competencies of Japanese companies and may become one of the key pillars for expanding bilateral cooperation.
CERR Public Relations Sector
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