TASHKENT, Uzbekistan, December 12. Uzbekistan plans to increase the textile exports to $4 billion by the end of 2025, Trend reports.
The news follows a meeting headed by the President of Uzbekistan Shavkat Mirziyoyev on measures to further enhance the performance of Uzbekistan's textile and leather industries.
The textile industry, employing over 430,000 people, accounts for 14 percent of the country’s overall industrial production and 16 percent of its exports. However, recent developments in the global market have impacted the competitiveness of Uzbek products, particularly with a drop in export prices. Yarn prices have fallen by 9 percent, fabrics by 15 percent, and finished goods by 13 percent. Additionally, the demand for finished textile products has decreased in key markets, which has created further challenges for producers.
Furthermore, the country focuses on increasing the depth of cotton fiber processing. This shift aims to reduce Uzbekistan’s reliance on raw cotton exports, providing more value-added products to global markets. To this end, the government plans additional support for enterprises involved in fabric production and dyeing, as well as to expand the local processing of yarn to 70 percent.
One of the most notable policy changes has been the removal of a 10 percent export duty on sheep and goat skins earlier this year, which has already led to export contracts worth $3 million. This practice will continue in 2025 to stimulate further exports in the leather sector.
Looking ahead, Uzbekistan aims to attract over $2 billion in foreign investments into its light industry sector. This investment will help fund 82 large-scale projects and create an estimated 25,000 new jobs. In addition to the textile export target of $4 billion, the leather industry aims to increase its exports to $250 million by the end of 2025.
Meanwhile, Uzbekistan’s textile exports reached $2.6 billion from January through November 2024.