ollowing the results of the first six months of 2020, the republic's foreign trade turnover reached $ 15.8 billion

July 22, 2020, 10:00

Following the results of the first six months of 2020, the republic's foreign trade turnover reached $ 15.8 billion and, compared to the same period last year, decreased by $ 3.5 billion. The volume of exports fell by 22.6% ($ 6.28 million), imports - by 15% ($ 9.57 million), follows from the data of the State Committee on Statistics.

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Major trading partners

China has become the main trading partner, as in the previous year. The volume of trade with this country amounted to $ 2.8 billion. Russia is in second place ($ 2.5 billion), and Kazakhstan is third ($ 1.3 billion).

With these three countries, there is a strong bias towards imports ($ 2.04 billion, $ 1.9 billion and $ 0.9 billion, respectively).

The top ten also includes South Korea, Turkey, Germany, Kyrgyzstan, Afghanistan, Tajikistan, Turkmenistan. Tajikistan, Afghanistan and Kyrgyzstan exported more than they imported.

The share of foreign trade turnover of the CIS countries in January-June 2020 amounted to 34.4%, compared to the same period in 2019, decreased by 0.8%.

Export

In January-June 2020, the volume of exports amounted to $ 6.2 billion and, compared to the same period last year, decreased by 18.2%.

In the structure of the country's export, the main share is occupied by gold (33.8%), followed by industrial goods (18.7%), services (16.1%), food products and live animals (8.9%), chemicals (6 , 1%), mineral fuel (5.1%) and others.

“There is a difference in the direction of export of goods and services between the CIS countries and other foreign countries. So, 23.5% of exports to the CIS countries are primarily exported by services, followed by industrial goods and food products, as well as live animals, various finished products, ”the committee notes.

The fastest growing is the export of beverages, tobacco, non-food raw materials (except for fuel), machinery and transport equipment, various finished products, as well as animal and vegetable oil to the CIS countries, a decrease was primarily noted in the export of mineral fuel, food products and chemical substances.

Following the results of the first six months, Uzbekistan exported gas for $ 234.6 million, which is 76% less than last year. Oil supplies decreased by 60%, non-ferrous metals - by 30%.

The main reason is the coronavirus pandemic, which has led to a decrease in demand in foreign markets. So, for example, gas supplies to China decreased threefold, and to Russia they stopped altogether.

Import

Since the beginning of the year, the country's imports amounted to $ 9.5 billion - a 15% decrease in growth rates compared to the same period last year.

Uzbekistan mainly buys machinery and transport equipment (37.1%), manufactured goods (16.8%), as well as chemicals and similar products (13.7%).

The share of imports of machinery and transport equipment increased from 35.9% to 37.1%, compared to the same period last year, food products and live animals decreased from 8.1% to 7.9%, industrial goods - from 17. 7% to 16.8%.

The committee explains the growth in imports of machinery and transport equipment by the improvement of the investment climate in the country and as a result of reforms.

The import of services decreased - the share decreased from 9.7% to 6.9%. The decrease in the volume of imports of food products and live animals is due to sugar, sugar and honey products (by 6.4%), animal feed (by 3.9%).

There is also a decrease in the volume of imports for manufactured goods, products from non-metallic minerals (by 33.1%), cork and wood products (except for furniture) (by 26.8%).

“Over the past months, the dynamics of the stabilization of the share of imports with the CIS countries and other foreign countries has been observed,” the committee noted.

Following the results of six months of the year, the volume of imports of building materials amounted to 5.1% and reached $ 489.4 million. This is 21.9% less than the same indicator of the previous year.

Most of all, the country imported wood and wood products. For the first half of 2020, their imports amounted to $ 231.8 million (19.0% less than in 2019).

The most noticeable decrease was noted for cement, the supply of which decreased by more than 2.3 times - from $ 87.5 million in the first half of 2019 to $ 37.5 million in the same period of this year.

This was facilitated by the restriction on cement imports, which the authorities introduced in April this year. The latter was done due to a sharp decrease in demand for cement after the suspension of construction work across the country due to quarantine measures, as well as in order to support domestic producers.