That dollar amount results from a 142.7% acceleration from $13.1 billion five years earlier in 2020.
Year over year, the overall value of Uzbekistan’s exported products spiked by 51.6% compared to $21 billion for 2023.
Based on the average exchange rate for 2024, the Uzbekistani som depreciated by -20.8% against the US dollar since 2020 and weakened by -7.3% from 2023 to 2024. Its weaker local currency in 2024 made Uzbekistan’s exports paid for in stronger US dollars relatively lesser expensive for international buyers starting from American currency.
Uzbekistan’s Major Trading Partners
The latest available country-specific data from 2022 shows that 80% of products exported from Uzbekistan were bought by importers in: Russia (22.1% of Uzbekistan’s total), mainland China (14.9%), Türkiye (12.4%), Kazakhstan (10.6%), Kyrgyzstan (7.9%), Afghanistan (4.5%), Tajikistan (3.3%), Turkmenistan (1.13%), Poland (1.08%), Azerbaijan (1.08%), Iran (1.06%) and Pakistan (1.05%).
From a continental perspective, about two-thirds (66.9%) of Uzbekistan’s exports by value was delivered to Asian countries while 32.1% was sold to importers in Europe. Uzbekistan shipped another 0.5% worth of goods to North America.
Tinier percentages went to buyers in North America (0.5%), Africa (0.4%), Latin America (0.1%) excluding Mexico but including the Caribbean, then Oceania’s Fiji and Australia only (0.001%).
Given Uzbekistan’s population of 36.9 million people, its total $31.9 billion in 2024 exports translates to roughly $850 for every resident in the European nation. That average dollar amount outpaces the $500 per capita one year earlier in 2023.
Uzbekistan’s Top 10 Exports
The following export product groups represent the highest dollar value in Uzbekistani global shipments during 2024. Also shown is the percentage share each export category represents in terms of overall exports from Uzbekistan.
- Gems, precious metals: US$14 billion (43.8% of total exports)
- Cotton: $2.3 billion (7.3%)
- Mineral fuels including oil: $1.85 billion (5.8%)
- Copper: $1.77 billion (5.6%)
- Knit or crochet clothing, accessories: $1.2 billion (3.7%)
- Vegetables: $1.1 billion (3.3%)
- Fruits, nuts: $903.7 million (2.8%)
- Vehicles: $636.5 million (2%)
- Machinery including computers: $630 million (2%)
- Plastics, plastic articles: $537 million (1.7%)
Uzbekistan’s top 10 export categories generated almost eight-tenths (77.9%) of the overall value of its global shipments.
Mineral fuels including oil was the fastest grower among the top 10 export categories, up by 90.6% from 2023 to 2024.
In second place for improving export sales was vegetables via a 73.4% advance.
Uzbekistan’s shipments of gems and precious metals posted the third-fastest gain in value, up by 67.3%.
The most modest gainer among Uzbekistan’s top 10 export categories was knitted or crocheted clothing and accessories thanks to its 7% year-over-year upturn.
The above information is at the two-digit Harmonized Tariff System (HTS) code level.
Drilling down at the more granular four-digit HTS codes perspective, unwrought gold represents Uzbekistan’s most valuable exported product at 42.6% of the country’s total. In second place was mostly cotton yarn (6.2%) trailed by refined petroleum oils (2.6%), refined copper and unwrought alloys (2.4%), petroleum gases (2.3%), dried shelled vegetables (1.73%), knitted or crocheted t-shirts (1.62%), wheat or meslin flour (1.61%), copper wire (1.6%), then copper tubes or pipes (1.2%).
Products Generating Uzbekistan’s Best Trade Surpluses
The following types of Uzbekistani product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Gems, precious metals: US$13.8 billion (Up by 65.8% since 2023)
- Cotton: $2.3 billion (Up by 36.9%)
- Copper: $1.7 billion (Up by 35.9%)
- Knit or crochet clothing, accessories: $1.1 billion (Up by 2.4%)
- Vegetables: $896.5 million (Up by 70.3%)
- Fruits, nuts: $497.1 million (Up by 21.2%)
- Fertilizers: $405 million (Up by 114.1%)
- Knit or crochet fabric: $307 million (Down by -7.7%)
- Miscellaneous textiles, worn clothing: $298.4 million (Up by 0.7%)
- Milling products, malt, starches: $216.1 million (Down by -12.6%)
Uzbekistan has notably positive net exports in the international trade of gold. In turn, these cashflows indicate Uzbekistan’s strong competitive advantages under the gems and precious metals category.
Products Causing Uzbekistan’s Best Largest Trade Deficits
Uzbekistan incurred an overall -US$23.7 billion trade deficit for 2024, expanding by 51.3% from -$15.6 billion in red ink one year earlier in 2023.
Below are exports from Uzbekistan that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Uzbekistan’s goods trail Uzbekistani importer spending on foreign products.
- Machinery including computers: -US$8.7 billion (Up by 48.2% since 2023)
- Vehicles: -$5 billion (Up by 15.4%)
- Electrical machinery, equipment: -$4.98 billion (Up by 67.7%)
- Mineral fuels including oil: -$4.5 billion (Up by 162.4%)
- Iron, steel: -$2.75 billion (Up by 50.9%)
- Pharmaceuticals: -$2.75 billion (Up by 71.4%)
- Articles of iron or steel: -$2 billion (Up by 67.6%)
- Plastics, plastic articles: -$1.3 billion (Up by 31.1%)
- Wood: -$1.2 billion (Up by 48.8%)
- Optical, technical, medical apparatus: -$985.2 million (Up by 49.7%)
Uzbekistan has highly negative net exports and therefore deep international trade deficits under the machinery including computers product category.
Uzbekistani Export Companies
Not one Uzbekistani corporation ranks among Forbes Global 2000.
Wikipedia lists exports-related companies from Uzbekistan. Selected examples are shown below.
- Avialeasing (cargo airliner)
- MAN Auto-Uzbekistan (vehicles)
- Navoi Mining and Metallurgy Combinat (uranium, precious metals)
- SamKochAvto (buses, trucks)
- Tashkent Aviation Production Assoc. (aircraft)
- Uzbekneftegaz (oil, gas)
In macroeconomic terms, Uzbekistan’s total exported goods represent 7.4% of its overall Gross Domestic Product for 2024 ($432.2 billion valued in Purchasing Power Parity US dollars). That 7.4% for exports to overall GDP in PPP for 2024 exceeds the 4.9% for 2023. Those percentages suggest a relatively increasing reliance on products sold on international markets for Uzbekistan’s total economic performance, albeit based on a short timeframe.
Another key indicator of a country’s economic performance is its unemployment rate. Uzbekistan’s unemployment rate averaged 5.54% in 2024, down from an average 6.808% one year earlier for 2023 according to International Monetary Fund statistics.
Uzbekistan’s capital city is Tashkent, translated as “City of Stones” from Uzbek.
See also Gold Exports by Country, Grapes Exports by Country, India’s Top Trading Partners, China’s Top Trading Partners and Afghanistan’s Top 10 Exports
Research Sources:
Central Intelligence Agency, The World Factbook Central Asia: Uzbekistan. Accessed on December 5, 2025
EXCHANGE-RATES.org Exchange Rate History, Uzbekistan Som (UZS) To US Dollar (USD). Accessed on December 5, 2025
Forbes 2024 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on December 5, 2025
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on December 5, 2025
International Trade Centre, Trade Map. Accessed on December 5, 2025
Investopedia, Net Exports Definition. Accessed on December 5, 2025
Wikipedia, Gross domestic product. Accessed on December 5, 2025
Wikipedia, List of Companies of Uzbekistan. Accessed on December 5, 2025
Wikipedia, Purchasing power parity. Accessed on December 5, 2025