Analysis: Uzbekistan's export growth and trade dynamics in 2022

22.12.2022. In 2022, Uzbekistan's export landscape demonstrated notable growth and diversification. The total export value reached $21.92 billion, marking a 33.03% increase from 2021. Gold remained the leading export commodity, with exports valued at $5.18 billion. Other significant exports included non-retail pure cotton yarn ($1.39 billion), petroleum gas ($934 million), refined copper ($596 million), and silver ($339 million). The primary export destinations were Switzerland ($4.29 billion), Russia ($2.6 billion), China ($1.98 billion), Turkey ($1.59 billion), and Kazakhstan ($1.25 billion). Despite the increase in exports, Uzbekistan experienced a trade deficit due to higher import growth. The trade balance stood at -$13.7 billion, with imports totaling $30.7 billion, a 20.4% increase from the previous year. These figures underscore Uzbekistan's expanding role in international trade, with efforts to diversify its export commodities and destinations contributing to economic growth.