At the invitation of German Federal Chancellor Olaf Scholz, President of the Republic of Uzbekistan Shavkat Mirziyoyev is on a working visit to Berlin on September 28-30 this year.

The analysis of the CEIR shows that despite the fact that the trade turnover between Uzbekistan and Germany has increased by 2 times in recent years, there is a huge untapped potential in trade and economic cooperation.

By the end of 2022, Germany was among the 10 largest partner countries of Uzbekistan in foreign trade and ranked 7th in terms of trade turnover, 19th in exports and 6th in imports.

Over the past 6 years, the trade turnover between Uzbekistan and Germany has grown 2.2 times from $529.1 million to $1159.3 million, exports 2.4 times from $36.9 million to $88.9 million, imports 2.2 times from $492.2 million to $1070.4 million.

Germany's share in total trade turnover for the period increased from 2.2% to 2.3%, in total exports from 0.3% to 0.5%, and in total imports decreased from 4.1% to 3.5%.

In 2022, compared with 2021, the trade turnover with Germany showed a significant increase of 51.4% and reached a maximum volume of almost $ 1.2 billion, exports increased by 23.1%, imports by 54.3%.

The significant excess of imports over exports is largely due to the structure of mutual trade. Germany is among the main suppliers to Uzbekistan of products of the commodity nomenclature "machinery, equipment and vehicles" and ranks 4th with a share of 7.2% (after China - 38.7%, the Republic of Korea - 16% and Turkey - 7.5%).

According to the results of January-August 2023, the trade turnover with Germany amounted to $708.3 million, exports - $56.6 million, imports - $651.6 million.

At the same time, the share of Germany in the total trade turnover of Uzbekistan for the specified period was 1.8%, in imports 2.8%, and in exports 0.3%.

Public Relations Service of the CEIR.