BAKU, Azerbaijan, Feb. 12
By Klavdiya Romakayeva - Trend:
More than 800,000 traders are currently registered on Uzbek Republican Commodity and Raw Materials Exchange (UZEX), Trend reports with reference to the UZEX.
According to the information, transactions worth 53.6 trillion soums ($5 billion) were concluded at the UZEX in 2020, which is 24.7 percent more than in 2019.
Thus, the turnover of the exchange in 2020 amounted to almost 10 percent of the country's GDP.
It is also reported that more than 300 local trading platforms of the exchange operate in almost all regions. Some 14 overseas trading floors have been opened in China, Russia, Belarus, Ukraine, Kazakhstan, Tajikistan, and Kyrgyzstan.
In addition, the volume of contracts concluded at the exchange with the participation of small businesses and private entrepreneurship amounted to 20.5 trillion soums ($2 billion).
In particular, entrepreneurs bought goods for 13.3 trillion soums ($1.3 billion) through the exchange and sold products for 7.2 trillion soums ($685 million).
Moreover, it is reported that traders earned 40.4 percent more profit in 2019, or 3 trillion soums ($285 million).
It is noted that local products for a total of $97.4 million were sold through the trading platforms of the UZEX in 2020. The main export contracts were polyethylene (52 percent), oil products (13 percent), and cotton fiber (12 percent).
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