Uzbekistan's trade with US reaches historic levels

Trade between Uzbekistan and the United States has reached unprecedented levels, with the total trade turnover amounting to $773.3 million in 2024. This milestone was reported by the Embassy of Uzbekistan in the United States, highlighting the significant growth in bilateral economic relations.

According to the embassy, this record-breaking figure marks a 27 percent increase compared to previous years.

"The surge in trade underscores the potential for expanding cooperation in advanced technologies and goods. The United States remains one of Uzbekistan’s top 10 trading partners, and the embassy has encouraged more US companies to explore the opportunities that this growth presents," the embassy states.

In a broader context, Uzbekistan’s total foreign trade turnover for January to October 2024 reached $54.4 billion, reflecting a 6.7 percent increase from the same period in 2023. Exports grew by 9.6 percent to $22.4 billion, while imports rose by 4.7 percent to $31.9 billion.

Among Uzbekistan’s foreign trade partners, the Commonwealth of Independent States (CIS) accounted for the largest share, with trade turnover amounting to $19 billion. The Eurasian Economic Union (EAEU) contributed $14.4 billion to the trade balance, while trade with other countries stood at $35.4 billion. Trade with the European Union reached $5.2 billion.

China, Russia, Kazakhstan, Turkey, and South Korea continue to dominate as Uzbekistan’s largest trading partners, with the United States steadily increasing its share in the country’s foreign trade landscape.