BAKU, Azerbaijan, Feb. 15
By Klavdiya Romakayeva - Trend:
Uzbekistan's foreign trade turnover in 2020 amounted to $36.3 billion with a negative trade balance of $6.04 billion, while in 2019 these figures amounted to $41.8 billion and $6.8 billion, respectively, Trend reports referring to the monetary policy review published by Central Bank of Uzbekistan (CBU).
According to the Central Bank of Uzbekistan, the decrease in foreign trade turnover by $5.5 billion in 2020 was caused by several factors, including a decrease in domestic and external demand amid the adoption of quarantine measures in the country and abroad in order to prevent the spread of coronavirus, the suspension of enterprises and intercountry transport links, as well as the activation of protectionist foreign trade policies by many countries.
It is reported that in 2020 Uzbekistan exported goods and services worth $15.1 billion, which is 13.4 percent less than last year.
The CBU noted that gold accounted for about 44 percent of all exports of goods (in 2019 - 35 percent). Its growth in 2020 amounted to 18 percent due to the rise in prices in the world market.
In addition, export growth was noted for such commodity items as textiles - by 18 percent, machinery, and equipment - by 9.4 percent.
At the same time, the export of energy carriers and oil products (by 74 percent), cotton fiber (by 48 percent), fruits and vegetables (by 17 percent) decreased.
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