Trade between Uzbekistan and Azerbaijan Grew 6.2 Times in Five Years

UZA News

The Center for Economic Research and Reforms has revealed that the trade between Uzbekistan and Azerbaijan has grown 6.2 times in the past five years. In 2017, the trade turnover was $29 million, which increased to $181.2 million in 2022. This growth was due to the free trade regime established between the two countries, which removed customs duties, taxes and fees, and eliminated any restrictions on the export or import of goods made in either country.

In the first half of 2023, the trade turnover between Uzbekistan and Azerbaijan was $84.6 million, with exports of $64.1 million and imports of $20.6 million. This accounted for 0.3 percent of Uzbekistan’s total foreign trade turnover in terms of trade, 0.5 percent in terms of exports, and 0.1 percent in terms of imports.

The main exports from Uzbekistan to Azerbaijan were textiles and carpets (17 percent), food, fruits and vegetables (13 percent), tobacco (13 percent), electrical products (12 percent), air conditioners, televisions, refrigerators, electric furnaces and other household appliances, copper wire, and copper pipes (11 percent), transport equipment and spare parts (12 percent), vehicle engines (5 percent), chemical, including pharmaceutical, products (4 percent), and services (5 percent). Azerbaijan’s main imports were copper ores and copper concentrates (40 percent), aluminum (20 percent), oil products and polymers (12 percent), food products (10 percent), and services, particularly transport (5 percent).

Overall, the trade between Uzbekistan and Azerbaijan has grown significantly in the last five years, and both countries have benefited from the free trade regime they have established.

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