Turkmenistan-Uzbekistan Trade Hits $418 Million in Past Eight Months

BUSINESS TURKMENISTAN
Turkmenistan-Uzbekistan Trade Hits $418 Million in Past Eight Months
Turkmenistan is listed among the top ten trading partners of Uzbekistan.

Uzbekistan’s foreign trade turnover with Turkmenistan in January-August of 2021 reached $418.1 million, with a year-on-year growth of over 23.6%, according to the report of State Statistics Committee of Uzbekistan published on Monday.

During the same period last year, the trade turnover between the neighboring countries was over $338.4 million, according to the report.

Turkmenistan is listed among the top ten trading partners of Uzbekistan.

During the first eight months of this year, Uzbekistan imported $297.6 million worth of Turkmen products. At the same time, the country’s exports to Turkmenistan amounted to $120.5 million.

Uzbekistan's foreign trade turnover during the period neared $25 billion, an increase of $383.1 billion or 1.6% compared to the same period in 2020.

Uzbekistan's largest foreign trade partner during the period was China – nearly $4.8 billion, with exports exceeding $1.57 billion, and imports – exceeding $3.2 billion.

Other main partners of Uzbekistan by trade turnover during the period are Russia (nearly $4.5 billion), Kazakhstan (nearly $2.5 billion), Turkey (over $2.1 million), Korea (around $1.2 billion), Kyrgyzstan (around $599 million), Germany (around $472 million), Afghanistan (around $444 million) and Ukraine (nearly $388 million).

The Uzbek-Turkmen Intergovernmental Commission on Trade-Economic, Scientific-Technical and Cultural-Humanitarian Cooperation during its 16th meeting in Tashkent last week expressed its readiness to implement measures on increasing bilateral trade turnover to $1 billion a year in the near future

In 2020, trade turnover between Turkmenistan and Uzbekistan amounted to $527 million.