Uzbekistan is experiencing a growing trade deficit as imports outpace exports, despite a modest increase in overall trade volume during the first five months of 2024.
The Uzbek Statistics Agency reports that the total volume of trade increased modestly during the first five months of 2024, compared with the same period the previous year. But the country’s deficit is continuing to grow. Trade turnover during the January-May period this year reached $26.7 billion, a 3 percent increase over 2023’s total for the same timeframe. Imports accounted for about three-fifths of that total, and the growth rate of imports 3.7 percent outpaced that of exports 1.9 percent.
Uzbekistan registered substantial deficits, in the billions of dollars, with both countries. Uzbekistan’s statistics contain some glaring differences with those compiled by the Chinese Customs Agency, according to an Uzbek source. The Spot.uz outlet noted that Beijing’s data pegged the value of Uzbek gas exports at $153.9 for the first five months of the year. Meanwhile, Uzbekistan reported $59.9 million in gas export sales to China during the same period.
Trade Deficit Imports Exports China Russia Turkmenistan Natural Gas Trade Imbalance Economic Challenges
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