Uzbekistan's foreign trade fell 17.2% y/y in January to $4.2bn, with the trade deficit widening from $851mn a year ago to $1.97bn, according to the national statistics agency.
Exports dropped 47.1% y/y to $1.12bn. Imports rose 4.1% y/y to $3.08bn.
President Shavkat Mirziyoyev expressed his dissatisfaction with the current direction of export volumes during a meeting on January 18. Mirziyoyev critiqued the export plan for 2024, saying it was necessary to "increase exports by at least 30% per year" to drive the economy forward. He lamented that, excluding gold, export growth in 11M23 was merely 5.7% y/y.
Mirziyoyev highlighted concerns regarding export volume declines in certain key industries and regions. He noted that "exports in 10 regions and cities failed to reach even half of the previous year's levels".
Prime Minister Abdulla Aripov has been instructed to take disciplinary action against deputy khokims (mayors) for investment in Andijan, Bukhara, Kashkadarya and Navoi regions, as well as against the mayors of 10 districts and cities.
Usman Baratov, head of the interregional Uzbek community "Vatandosh," has been sentenced by a Moscow region court to four years in a general regime penal colony for inciting hatred and enmity, ... more
Uzbekistan's economy grew at a rate of 6.4% in the first half, according to offical statistics. The GDP growth was discussed in a meeting focused on economic sectors led by ... more
Uzbekistan and Russia have announced plans to further develop mutual trade and create joint industrial parks, according to the Russian trade mission in Uzbekistan. Russian Industry and Trade ... more