Uzbekistan Cuts Deficit as Trade Turnover Tops $44.7 Bn

Uzbekistan’s foreign trade turnover reached $44.7 bn in January–July 2025, according to the State Statistics Committee. This is a 19.9% increase compared to the same period last year. Exports rose to $20.1 bn (+34.9%), while imports climbed to $24.2 bn (+9.9%). As a result, the trade deficit narrowed to $4.18 bn, down from $7.2 bn a year earlier.

Gold Drives Export Growth

In July, Uzbekistan resumed gold exports, selling $1.09 bn worth after a one-month pause. Total gold sales in the first seven months reached $7.58 bn, up 80.9% year-on-year and already exceeding the full-year figure for 2024.

Energy and Food Exports Rise

Exports of fuel and energy products grew 11.5% to $876.2 mln. While crude oil exports fell by 16.6%, natural gas sales surged by more than a third to $438.6 mln. Electricity exports also expanded by nearly 50%.

Food exports showed strong momentum, rising 39.7% to $1.51 bn. Vegetables and fruits brought in $1.1 bn (+38.1%), while grain exports jumped more than 50%.

Manufacturing and Machinery Exports Weaken

Textile and fabric exports dropped sharply by 26.9%, totaling $893.7 mln. Steel and cast iron supplies also declined by 21.9%. Machinery exports fell 17.3% to $562.3 mln, mainly due to a 19.3% fall in automobile sales abroad.

Import Dynamics

Imports of industrial goods and chemicals showed robust growth. Spending on primary plastics soared 32.5% to $585.3 mln, while purchases of meat rose 73.6% to $420.1 mln. In contrast, imports of automobiles fell 1.5 times to $530.2 mln, though demand for spare parts grew strongly. Imports of fuel and energy products dropped 18.4%, reflecting reduced purchases of oil, gas and electricity.

China Remains Key Trade Partner

China remained Uzbekistan’s top trading partner with $8.07 bn in turnover (+18%), followed by Russia at $7.16 bn(+4.7%). Kazakhstan ($2.63 bn), Turkey ($1.6 bn) and South Korea ($981.5 mln) rounded out the top five.