Infographics: Uzbekistan's trade with China in 2023

At the invitation of President of the People's Republic of China Xi Jinping, President of the Republic of Uzbekistan Shavkat Mirziyoyev is paying a state visit to this country on January 23-25 this year.

The Center for Economic Research and Reforms (CERR) has prepared an infographic that presents the foreign trade relations between Uzbekistan and China, and the volume of import and export by product categories for 2023.

Uzbekistan's trade with China is subject to the "most favored nation" regime by a bilateral agreement.

China is one of Uzbekistan's leading trading partners and a leading investor in the Uzbek economy.

The analysis of the Center for Economic Research and Reforms shows that in recent years, trade, economic, and investment cooperation between Uzbekistan and China has been developing dynamically and covers new areas of cooperation.

In 2023, Uzbekistan's trade turnover with China increased by 51.5% and amounted to $13.7 billion, while exports amounted to $2.5 billion, and imports increased by 75.2% to $11.3 billion. Machinery and equipment, industrial goods, and chemicals formed the basis of imports from China in 2023.

It should be noted that by the end of 2023, China's share in the total foreign trade turnover of Uzbekistan amounted to 21.9%, total exports – 10.1%, and total imports – 29.5%.

During the negotiations on October 17 last year, on the occasion of the 10th anniversary of the Belt and Road Initiative, the mutual agreement of the leaders of our countries was expressed that there is every reason to bring trade turnover to $20 billion in the next 5 years.

With the participation of Chinese companies and financial institutions, several large investment projects are being implemented in the fields of high technologies, alternative energy, chemistry, mechanical engineering, metallurgy, electrical engineering, infrastructure modernization, and other areas.