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Uzbekistan’s Trade Deficit Reaches $11.7bn in January–August 2026

By Freedom251 Team · · 2 min read

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Uzbekistan’s National Statistics Committee reported a foreign-trade deficit of $11.7 billion for January–August 2026. Imports rose 16.3% year on year to $34.5 billion, while total exports fell 3.4% to $22.9 billion. Those figures show the direction of the widening gap, but the committee’s release does not identify a specific cause for the reported 93% increase.

What the January–August trade figures show

In a release dated 2 October 2026, the National Statistics Committee of the Republic of Uzbekistan said foreign-trade turnover reached $57.4 billion in the first eight months of 2026, up $4 billion, or 7.6%, from the same period of 2025. It reported exports of $22.9 billion, down 3.4%, and imports of $34.5 billion, up 16.3%. National Statistics Committee release

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Measure January–August 2026 Year-on-year change
Foreign-trade turnover $57.4 billion Up $4 billion, or 7.6%
Total exports $22.9 billion Down 3.4%
Total imports $34.5 billion Up 16.3%

Why do the rounded totals show an $11.6bn gap?

Subtracting the two export and import totals as published to one decimal place—$34.5 billion minus $22.9 billion—gives $11.6 billion. The headline deficit is $11.7 billion. This small difference is consistent with the totals being rounded: calculations using more precise underlying values can yield a different result than arithmetic on rounded figures. The release’s rounded totals do not independently verify the headline’s 93% year-on-year increase, so that percentage should be treated as the committee’s reported figure, not recalculated from the displayed totals.

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Why did the deficit widen?

The release establishes that imports grew while total exports declined, a combination that widens the gap between them. It does not provide a specific explanation for the 93% increase in the deficit, so attributing the January–August change to a particular commodity, investment trend, or demand factor would go beyond what the release supports.

How can gold-excluded exports rise while total exports fall?

The committee reported that goods exports excluding gold reached $11.5 billion, up 28.7% year on year. This is a narrower measure than total exports of $22.9 billion: it covers goods exports with gold excluded, rather than the full export total. The two movements therefore can occur at the same time. The increase in the gold-excluded goods measure alone does not establish why total exports declined.

Which countries accounted for the largest turnover shares?

The committee said Uzbekistan traded with more than 200 countries. The largest reported shares of total foreign-trade turnover were:

Rank #2
Country Share of total turnover
China 23%
Russian Federation 16%
Kazakhstan 6.5%
Türkiye 3.4%
Afghanistan 2.5%

These percentages describe each country’s share of combined foreign-trade turnover. They are not separate rankings or shares for export destinations or import suppliers.

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How to interpret the figures alongside other official data

The Statistics Committee’s foreign-economic-activity portal lists official monthly and annual trade series, including goods exports at FOB prices and goods imports at CIF prices, as well as country, product-category, and services data. Comparisons across its series should use matching periods and definitions. Statistics Committee foreign-economic-activity portal

The Central Bank’s separate first-half 2026 balance-of-payments review reported exports of $15.4 billion, imports of $28.8 billion, and a $13.4 billion trade-balance deficit. It said lower gold exports mainly drove the export decline, while non-gold exports rose 27% and services exports rose 45%; it linked high imports to machinery and equipment, vehicles, chemical and mineral products, and food amid investment activity and consumer demand. That commentary covers the first half and a balance-of-payments measure, not the Statistics Committee’s January–August foreign-trade series, so it is context rather than a direct explanation of the later headline. Central Bank balance-of-payments review

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exportsforeign tradeimportsNational Statistics Committeetrade deficitUzbekistan

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