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Tuesday 14 February 2012

Russian-Uzbek Trade Up 9% to $6.7 Bln in 2011


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TASHKENT (RIA Novosti) – Trade turnover between Uzbekistan and Russia rose 8.9% in 2011 to US $6.689 billion compared with 2010, the Uzbek statistics committee said on Tuesday.

Trade relations with Russia are currently regulated by the Agreement on Trade Relations between the Republic of Uzbekistan and the Russian Federation, dated Nov. 13, 1992 and by the Protocol on Changes and Amendments to the Protocol for Exemptions from Free Trade that was made to that agreement and signed on Jan. 13, 1993. In accordance with these documents, Uzbekistan and Russia can conduct business across the border under free-trade conditions. Today the Russian Federation is the Republic’s largest trade and economic partner, accounting for over 30% of all of Uzbekistan’s foreign trade.
(Photo: General Motors Uzbekistan which exports most of its production to Russia.)

Russia accounted for 26.2% of Uzbekistan’s overall trade turnover, according to the report. Uzbek exports to Russia grew six percent to $4.406 billion last year, while imports from Russia increased 14.8% to $2.283 billion compared with 2010.

Energy exports from Uzbekistan to Russia fell to 32.8% of the total last year from 33.7% in 2010, while food products grew to 22.2% from 20.4% and machinery and equipment went up to 14.6% from 14.1%. Export of services edged down 0.2 percentage points to 9.5% and cotton exports fell to 3.5% from 3.7%.

Last year Uzbekistan’s core import items from Russia were machinery and equipment, accounting for 21.3% of overall trade turnover, a 2.9 percentage point increase, energy products accounted for 18.3%, up 0.7 percentage points, and food products amounted to 11.3%, a 0.8 percentage point increase.

Import of ferrous and non-ferrous metals from Russia jumped to 14.6% from 13.8% and imports of chemical products rose to 6.8% from 6.3%.

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