Increased Trade exchange between Astana and Tashkent surpasses a whopping $4.2 billion in the year 2024
In the first half of 2025, Uzbekistan's total foreign trade turnover reached an impressive $37 billion, marking a 16.1% year-on-year increase. This growth was driven by a robust trade relationship with key economic partners.
According to data reported by Uzbekistan's Statistics Agency, China remains Uzbekistan's largest trading partner by volume. In 2024, bilateral trade grew to an astounding $12.4 billion, with China being the top source of imports and the second-largest destination for exports. The strong cooperation between the two countries is evident in the energy sector, infrastructure, and manufacturing, with gas exports via pipelines playing a significant role. China surpassed Russia as Uzbekistan's top trading partner overall.
Russia, however, remains Uzbekistan’s second-largest trading partner, with a trade turnover of approximately $6 billion. The trade relationship is mutually beneficial, with Russia serving as both a buyer of Uzbek products and a supplier of goods.
Kazakhstan ranks third among Uzbekistan's trading partners, accounting for around 6.5% of Uzbekistan’s trade. The trade turnover between Kazakhstan and Uzbekistan in 2024 was $4.22 billion. Kazakhstan is a key regional partner, with preferential trade agreements in place since 1996 and significant investment links.
Turkey reached the top five trading partners in 2024, substantially increasing bilateral trade and investment, especially within the Economic Cooperation Organization (ECO) framework. Turkish investment in Uzbekistan amounted to $1.8 billion in 2024, and Turkey's trade with Uzbekistan was approximately $1.6 billion.
Uzbekistan's trade with ECO member countries, including Azerbaijan, Iran, Afghanistan, and Kyrgyzstan, more than doubled between 2017 and 2024. These countries accounted for smaller but growing trade volumes, with a total of approximately $12.2 billion in ECO trade with Uzbekistan in 2024.
As Uzbekistan continues to diversify its trade partners, it is actively deepening ties with the Gulf states and other regions. However, these remain smaller in volume compared to China, Russia, and Kazakhstan.
This data reflects the approximate and recent trade volumes linked to the main foreign economic partners of Uzbekistan as of 2024 and early 2025. Trade values are approximate and may fluctuate due to ongoing economic dynamics.
The increase in Uzbekistan's foreign trade turnover in the first half of 2025, which reached $37 billion, can be attributed to the growth in trade with key economic partners such as China, Russia, and Kazakhstan, as well as other ECO member countries. The finance and business sectors are likely benefiting from these robust trade relationships, as China remains the largest trading partner by volume, Russia is the second-largest, and Kazakhstan ranks third.
