Uzbekistan’s Q1 2022 Eurasian Economic Union Trade Turnover Data

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Trade agreements with EU & UK having a positive dynamic effect

Uzbekistan’s trade turnover with the Eurasian Economic Union (EAEU) countries amounted to US$3.2 billion from January through March 2022, according to the Uzbek State Statistics Committee.

During Q1 this year, Uzbek exports of goods and services to the EAEU countries amounted to US$923.3 million, while imports amounted to US$2.3 billion.

Uzbekistan / EAEU Trade Turnover Q1 2022

Country Trade turnover (USD, millions  Export (million USD) Import (million USD)
Russia 1,865.2 484.9 1,380.3
Kazakhstan 992.8 231 761.8
Kyrgyzstan 226.4 183.1 43.3
Belarus 91 20. 70.4
Armenia 4.8 3.8 1

The Uzbekistan – EAEU trade figures are important because they will lay the platform for debates about whether Uzbekistan should upgrade its trade status with the EAEU from Observer, to Partner status.

Additional stimulus into Uzbekistan’s trade has been the agreements it signed with both the European Union and United Kingdom last year, reducing tariffs to zero on thousands of products – the first trade deal of its type in Central Asia.

That has also affected Uzbekistan’s overall trade. From January through March 2022, Uzbekistan’s total foreign trade turnover increased by 1.7 times compared to the same period last year (US$7.5 billion), reaching US$13.2 billion.

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