The prestigious Spanish publication El Mundo Financiero, specialized in finance and economic analysis, published an article acknowledging that Uzbekistan's foreign trade turnover has increased by 2.4 times from 2017 to 2023. This analysis highlights the openness in the country's economic policy, the diversification of exports, and the processes of reaching new markets.
Stable growth in trade turnover
According to the data, in 2023, Uzbekistan exported a range of products to foreign markets, including precious metals, textile and yarn products, copper, as well as components related to the automotive industry, and various fruits and vegetables.
Comparative advantage: Uzbekistan in the global market
The article also notes that Uzbekistan is emerging as a leader in several strategic products on a global scale, showing that the export of pure cotton yarn exceeds that of other countries by 172 percent, silk fabric by 85 percent, molybdenum by 79 percent, wheat flour by 65 percent, and grape products by 39 percent.
New directions on the export map
Last year, Uzbekistan entered more than 10 new countries, including Australia, Singapore, New Zealand, Colombia, and Indonesia. Today, our products are finding buyers in 85 countries.
Fruits, vegetables, and syrups — a new hit
Since the beginning of 2024, the demand for organic fruits and vegetables grown in Uzbekistan, as well as for ready-made syrups and juices, has been quite high. Especially in major consumer markets such as the UK, USA, India, Canada, Thailand, and Australia, Uzbek producers are actively engaged in trade.
Uzbekistan's economy is adapting to open market rules. Through quality products, strategic planning, and new export directions, our country is strengthening its position on the global economic map. In your opinion, which markets will open new doors for Uzbek products next?
