The proportion of European nations in Uzbekistan's foreign trade has declined

During the first quarter of 2024, Uzbekistan's foreign trade reached a volume of $15.8 billion, as per the Statistics Agency's report.

Compared to January-March 2023, the foreign trade turnover increased by $927.9 billion, marking a 6.2% rise. During the past three months, exports amounted to $6.4 billion, imports totaled $9.4 billion, resulting in a foreign trade deficit of -$3 billion. Last year, the deficit for January-March stood at -$3.4 billion.

China leads in Uzbekistan's foreign trade turnover with a reciprocal turnover of $3.01 billion. However, the negative trade balance between Uzbekistan and China has widened, with exports to China at $451 million and imports at $2.5 billion (-$2.1 billion).

There's a notable increase in imports from Russia. The total trade between the two countries reached $2.8 billion, with exports at $720 million and imports at $2.07 billion (-$1.3 billion). Last year's first-quarter figures were $2.2 billion, with exports at $585 million and imports at $1.6 billion (-$1.1 billion).

Remarkably, the share of European countries in Uzbekistan's foreign trade, typically considered advantageous, has diminished. Last year, four European countries were among Uzbekistan's top ten trading partners, whereas only three made the list in the first quarter of this year.