• Analysis and Studies
• Uzbekistan: a look at the market

Uzbekistan is the geographic center of Central Asia. The country has a diverse economy and a relatively young population. It was conquered by Russia and incorporated into the USSR. During the Soviet era, intensive production of cotton and grain led to the overuse of agrochemicals and the depletion of water supplies, leaving the land degraded and the Aral Sea and certain rivers almost dry. Independent since the dissolution of the USSR in 1991, the country has diversified agricultural production while developing its mineral and petroleum export capacity and increasing its manufacturing base, although cotton remains a major part of its economy. However, its political past is filled with instability and totalitarianism.

A Look at the Market

Uzbekistan is considered as a lower middle-income Central Asian economy, with big reserves of natural gas, cotton, and gold. During the COVID-19 pandemic, the country registered a positive growth, yet poverty is increasing especially in the countryside. Uzbekistan is one of the countries that founded the Commonwealth of Independent States (CIS) in the 1990s. Nevertheless, it does not want to join the Eurasian Economic Community (EAEU). In 2021, Uzbekistan was the number 71 economy in the world in terms of GDP, the number 81 in total exports, the number 78 in total imports, the number 143 economy in terms of GDP per capita.

The top exports of Uzbekistan are Gold ($4.53B), Pure Cotton Yarn ($1.61B), Refined Copper ($741M), Petroleum Gas ($722M), and Radioactive Chemicals ($407M), exporting mostly to Switzerland ($2.4B), China ($1.94B), United Kingdom ($1.88B), Russia ($1.71B), and Turkey ($1.68B).

The top imports of Uzbekistan are Packaged Medicaments ($1.04B), Motor vehicles; parts and accessories (8701 to 8705) ($1.01B), Cars ($656M), Refined Petroleum ($608M), and Wheat ($535M), importing mostly from China ($5.63B), Russia ($5.12B), Kazakhstan ($2.47B), South Korea ($1.92B), and Turkey ($1.87B).

Moreover, Uzbekistan was the major exporter of Silk Waste ($36.1M) in the world.

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