Uzbekistan's trade turnover with ECO countries exceeds $9.2 billion
Economy
As we reported earlier, the fifth business forum was held in Tashkent on the eve of the 16th summit of the Economic Cooperation Organisation.
This conference provided a platform for major initiatives that will serve to liberalise and harmonise trade policy, reduce the cost of doing business, develop financial infrastructure and institutional capacity, and simplify trade procedures.
The Economic Cooperation Organisation comprises ten countries: Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkey, Turkmenistan and Uzbekistan.
Uzbekistan's cooperation within the framework of the Economic Cooperation Organisation has significantly intensified in recent years. According to the Centre for Economic Research and Reforms, in 2021, Uzbekistan's trade turnover with the member countries of this organisation increased by 35.1 per cent and reached $11.2 billion.
The growth trend continued in 2022, with the volume of trade turnover increasing by 10.4 per cent to $12.4 billion. The share of ECO in Uzbekistan's foreign trade is 24.7 per cent. It is noteworthy that exports reached $5.75 billion, which is 6.3 per cent higher than in 2021.
Imports increased by $6.62 billion, a 14.3 per cent increase. Last year, one-third of total exports, 29.8 per cent, went to ECO countries.
The largest share in trade last year belonged to Kazakhstan (37.5 per cent) and Turkey (26.3 per cent).
They are followed by Kyrgyzstan (10.2), Turkmenistan (7.5), Afghanistan (6.1), Tajikistan (5.5), Iran (3.5), Pakistan (1.9) and Azerbaijan (1.5).
Uzbekistan's trade turnover with ECO countries exceeded $9.2 billion. This year, co-operation has become much more active. For nine months, the trade turnover within the ECO was $9.2 billion, and the share of member countries in the total trade turnover of Uzbekistan reached 20.5 per cent.
The amount of exports is 4.2 billion dollars, imports - 5 billion dollars (+3.3 per cent).
The Economic Cooperation Organisation comprises ten countries: Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkey, Turkmenistan and Uzbekistan.
Uzbekistan's cooperation within the framework of the Economic Cooperation Organisation has significantly intensified in recent years. According to the Centre for Economic Research and Reforms, in 2021, Uzbekistan's trade turnover with the member countries of this organisation increased by 35.1 per cent and reached $11.2 billion.
The growth trend continued in 2022, with the volume of trade turnover increasing by 10.4 per cent to $12.4 billion. The share of ECO in Uzbekistan's foreign trade is 24.7 per cent. It is noteworthy that exports reached $5.75 billion, which is 6.3 per cent higher than in 2021.
Imports increased by $6.62 billion, a 14.3 per cent increase. Last year, one-third of total exports, 29.8 per cent, went to ECO countries.
The largest share in trade last year belonged to Kazakhstan (37.5 per cent) and Turkey (26.3 per cent).
They are followed by Kyrgyzstan (10.2), Turkmenistan (7.5), Afghanistan (6.1), Tajikistan (5.5), Iran (3.5), Pakistan (1.9) and Azerbaijan (1.5).
Uzbekistan's trade turnover with ECO countries exceeded $9.2 billion. This year, co-operation has become much more active. For nine months, the trade turnover within the ECO was $9.2 billion, and the share of member countries in the total trade turnover of Uzbekistan reached 20.5 per cent.
The amount of exports is 4.2 billion dollars, imports - 5 billion dollars (+3.3 per cent).
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