One of the priorities of the Shanghai Cooperation Organization (SCO) is the development of trade relations. You can read about which countries are the main trading partners of Uzbekistan in the SCO in the material of the Center for Economic Research and Reforms (CERR).
Foreign trade with the SCO countries occupies a significant place in Uzbekistan's foreign economic activity. In particular, Russia, China and the countries of Central Asia are among the main trade and economic partners of Uzbekistan.
Over the past 5 years, Uzbekistan's trade turnover with the SCO countries has grown in 1.7 times, exports in 1.2 times and imports in 2 times. At the same time, the share of trade turnover with the SCO countries in the total foreign trade turnover of the country also increased from 47.2% to 50.2%.
In 2021, trade turnover with the SCO countries increased by 24% and amounted to $21.2 billion, exports increased by 29% to $7.2 billion and imports increased by 21% to $13.9 billion.
In 2021, the SCO countries accounted for 50.2% of Uzbekistan's total foreign trade turnover, 43.5% of total exports and 54.5% of total imports.
The share of the SCO countries in the total volume of exports (excluding $4.1 billion gold in 2021) will grow to 57.8%, and in the total volume of trade turnover to 55.6%.
The largest shares of Uzbekistan's trade turnover within the scope of domestic trade with the SCO countries are accounted for by Russia – 35.7% and China – 35.2% as well as Kazakhstan – 18.5% and Kyrgyzstan – 4.5%.
In terms of exports, the largest shares are on 5 countries: China – 34.9%, Russia – 28.8%, Kazakhstan – 16.3%, Kyrgyzstan – 10.9%, Tajikistan – 6.9%. The main volume of imports comes from Russia – 39.3%, China – 35.4% and Kazakhstan – 19.7%.
According to the results of January-July 2022, compared to the same period last year, Uzbekistan's trade turnover with the SCO countries increased by 25.3% and amounted to $14.0 billion, exports increased by 24.4% to $4.6 billion, imports by 27.3% to $9.4 billion. The negative trade balance also increased by 27.3% to $4.7 billion.
Such results were largely achieved due to the development of transit potential in the SCO space, the development of a coordinated transport management system across the territories of the SCO member states. This complex and capital-intensive work took at least a decade.
In general, the SCO unites the countries of Central and South Asia, Eurasia, and the East, it is planned to replenish the number of SCO participants with a number of Arab countries with developed economies, which makes the SCO a promising area for almost half of the world's population, which creates favorable conditions for the development of mutually beneficial trade and economic cooperation.
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