President of Uzbekistan Shavkat Mirziyoyev, at the invitation of the Emir of Kuwait, Sheikh Mishal Al-Sabah, is visiting the country on an official visit on February 17-18 this year.
The Center for Economic Research and Reforms has prepared an infographic analyzing the key aspects of trade and economic cooperation between Uzbekistan and Kuwait over the past eight years.
The analysis highlights the dynamics of trade turnover, key export and import categories, allowing for the identification of prospects for further expansion of cooperation.
Trade and economic cooperation between Uzbekistan and Kuwait has shown positive dynamics and significant untapped potential for further development.
The trade turnover between the two countries increased from $288.6 thousand in 2017 to $6.76 million in 2024, primarily due to the growth of Uzbekistan’s exports to Kuwait, which rose from $247.2 thousand to $6.6 million.
In 2024, the main export categories from Uzbekistan to Kuwait included food products (vegetables and fruits) – $0.2 million, aviation fuel – $2 million and services (air transport and tourism) – $4.4 million.
The import volume from Kuwait amounted to $157.7 thousand and included chemical products (pigments, paints) – $1.0 thousand, paper products – $10 thousand and services (postal and insurance) – $147.6 thousand.
Investment cooperation between Uzbekistan and Kuwait demonstrates significant potential for growth and development. As of the end of 2024, there are seven enterprises with Kuwaiti investments registered in Uzbekistan.
Between 2017 and 2024, the total volume of foreign direct investments and loans from Kuwait to Uzbekistan amounted to $12.6 million.
According to the Center for Economic Research and Reforms, trade between Uzbekistan and Kuwait holds significant untapped potential. Analysis indicates that sectors such as processed agricultural products, textiles, leather goods, tobacco products, woodworking, and chemicals offer opportunities for increased export volumes.
In particular, Uzbekistan has export potential to Kuwait in the following categories:
The tourism sector also presents substantial opportunities, particularly through the increase in direct flights between the two countries to promote pilgrimage tourism. This initiative will drive the development of tourism infrastructure and contribute to higher revenues from the tourism sector.
There are strong prospects for expanding the range and volume of Uzbek exports to Kuwait, including further re-export opportunities to Gulf countries and growth in the export of tourism services.
CERR Public Relations Sector
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