“Negative net balance of trade is caused by implementation of investment projects” - State Committee on Investments

The sharp increase in the negative net balance of trade of Uzbekistan in 2018 is associated with the implementation of investment projects, said Laziz Kudratov, first deputy chairman of the State Committee on Investments.

In January-November 2018, the country’s foreign trade turnover amounted to $28.6 billion, an increase of 17.6% over the same period last year. Exports amounted to $11.3 billion (decreased by 3.2%) and the volume of imports - $17.3 billion (increased by 36.8%). As a result, the negative net balance of trade exceeded $6 billion.

“This is primarily due to the implementation of investment projects. The main imports account for the supply of equipment and technologies that will have a positive impact on the economy,” Kudratov said.

Thus, according to the State Statistics Committee, in the structure of imports, the main share is occupied by machinery and equipment (41.9%), chemical (13.2%), as well as food products (8.2%).