China's influence in Uzbekistan is becoming more noticeable
China's influence in Uzbekistan is becoming more noticeable
In the first 9 months of 2023, the volume of Uzbekistan's foreign trade amounted to approximately $ 45 billion; it was announced that China's share in this indicator is 21.1 percent.
While the foreign trade turnover in Uzbekistan for the first 9 months of 2023 amounted to approximately $ 45 billion; China's share in this indicator increased to 21.1 percent. Exports from Uzbekistan to China decreased to $1.85 billion. On the other hand, the volume of imports to Uzbekistan increased by 58.5 percent to $ 7.6 billion.
THE TRADE DEFICIT IN UZBEKISTAN CONTINUES TO GROW
In January-September 2023, the Statistics Agency of Uzbekistan; According to the published report on foreign trade turnover, the negative balance of the country's foreign trade reached $ 9.27 billion. During the same period of the previous year, Uzbekistan's foreign trade deficit amounted to $7.9 billion. The volume of Uzbekistan's exports from January to September 2023 amounted to $ 17.74 billion, and the volume of imports – $ 27.01 billion.
DEPENDENCE ON FOREIGN TRADE HAS INCREASED
Since the beginning of 2023, China's trade volume with Uzbekistan has reached $9.45 billion. This indicator accounts for 21.1 percent of the total foreign trade turnover of Uzbekistan. Compared to the corresponding period of 2022, the volume of trade with China last year amounted to $6.78 billion.
At the same time, Uzbekistan has a positive foreign trade balance with only three of the 20 largest countries (Afghanistan, Kyrgyzstan and Tajikistan) in terms of foreign economic activity; with the remaining 17 countries, it has a negative foreign trade balance. The top 10 countries with the largest share in Uzbekistan's foreign trade turnover for January-September 2023 are as follows:
- China – $ 9.45 billion;
- Russia – $ 7.03 billion;
- Kazakhstan – $ 3.23 billion;
- Turkey – $ 2.35 billion;
- Korea – $ 1.7 billion;
- Turkmenistan – $ 830 million;
- Germany – 784 million dollars;
- Kyrgyzstan – 753 million dollars;
- France – 658 million dollars;
- Afghanistan - $615 million.
SOURCE: AA