Turkmenistan-Uzbekistan 2022 Bilateral Trade Up 12.7%

The trade turnover between Turkmenistan and Uzbekistan increased by 12.7% from January through to November 2022, amounting to US$858.6 million, according to the Uzbek State Statistics Committee.

Of this, Uzbekistan’s imports from Turkmenistan reached US$674.3 million, while exports achieved US$184.3 million. Turkmenistan entered the top 11 biggest foreign trade partners of Uzbekistan from January through November 2022.

The increases this year follow on from strong growth during 2021, when bilateral trade grew by 61%. The reason has been improved transport and logistics connectivity, partially as a result of Belt and Road Initiative, China financed infrastructure, as well as improving consumer standards in both markets. The two countries have been developing road and rail links between them to service the Middle Corridor route. Rail transport corridor freight for example has also shown significant 2022 growth.

The main products that Uzbekistan exported to Turkmenistan are Nitrogenous Fertilizers, Calcium Phosphates, and Margarine.  The main products that Turkmenistan exports to Uzbekistan are Electricity, Refined Petroleum, and Crude Petroleum.

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