Uzbekistan – Eurasian Economic Union Trade Volumes Up
Uzbekistan’s foreign trade turnover with the Eurasian Economic Union (EAEU) countries amounted to US$7 billion from January through June 2022, according to the Uzbek State Statistics Committee.
The EAEU countries include Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. During H1 2022, Uzbek exports of goods and services to the EAEU amounted to US$2.4 billion, while imports reached US$4.6 billion.
Uzbekistan’s overall foreign trade increased by 32.4% compared to the same period last year reaching US$24.5 billion for the first six months.
The trade turnover of Uzbekistan with the EAEU countries from January through June 2022 are as follows:
Uzbekistan is an observer state to the EAEU and is considering full membership. Doing so would add 32 million people to the group as well as giving it a political boost. The EAEU is progressing with Free Trade Agreement discussions with numerous countries, among them India, Egypt, and Thailand, and has deals with Iran and Vietnam, all attractive for Uzbek export ambitions. Uzbekistan also has lucrative trade agreements with the United Kingdom and European Union.
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