Infographic: Trade, economic and investment cooperation between Uzbekistan and EU countries

In the lead-up to the “Central Asia – European Union” Summit, which will take place on April 3–4, 2025, in Samarkand, the Center for Economic Research and Reforms (CERR) has prepared an infographic reflecting the dynamics of Uzbekistan’s foreign trade and investment cooperation with the European Union countries over the past 7 years.

Trade and Economic Cooperation

In Uzbekistan’s foreign trade, the European Union ranks third among trading partners by volume of trade turnover, exports and imports, after China and Russia. In 2024, the share of EU countries in Uzbekistan’s foreign trade amounted to: 9.7% in trade turnover, 6.3% in exports, and 12% in imports. 

Uzbekistan’s trade turnover with EU countries from 2017 to 2024 increased 2.4 times from $2.6 billion to $6.4 billion, exports increased 3.6 times from $472.3 million to $1.7 billion, imports increased 2.2 times from $2.2 billion to $4.7 billion. During the period 2017–2024, the share of EU countries in Uzbekistan’s total trade turnover slightly decreased from 9.9% to 9.7%, in total exports it increased from 3.8% to 6.3%, and in total imports it decreased from 15.5% to 12%. The decrease in the EU share in Uzbekistan’s total imports occurred due to a reorientation of part of Uzbekistan’s imports from EU countries to Asian countries. At the same time, the volume of exports to EU countries and its share in Uzbekistan’s total exports increased.

In 2024 compared to 2023, Uzbekistan’s trade turnover with the EU increased by 5.2% from $6.1 billion to $6.4 billion, exports increased by 26.9% from $1.3 billion to $1.7 billion, imports remained unchanged at $4.7 billion.

In 2024, Uzbekistan’s exports to EU countries amounted to $1.7 billion. The main volume (54%) was chemical products – $877.4 million, including radioactive elements (uranium) – $775.3 million, fertilizers – $95.6 million, various sulfates and carbonates – $2.5 million. In 2024, 86% of all uranium exports, about 27% of fertilizer exports, 5% of textile products and 2.1% of fruit and vegetable products were supplied to EU countries.

In 2024, Uzbekistan’s imports from EU countries amounted to $4.7 billion. EU countries are among the main suppliers to Uzbekistan of “machinery, equipment and transport vehicles,” chemical and other industrial products necessary for development. In 2024, about 50% ($2.3 billion) of Uzbekistan’s imports from EU countries consisted of “machinery, equipment, transport vehicles, electrical goods, instruments and medical equipment,” including aircraft (10 units) worth $272.4 million from Germany, France, the Czech Republic and Slovakia. 

The second major import category from EU countries is chemical products (pharmaceuticals, perfumery, cosmetics and other chemical substances) – $1.2 billion (24.9% of imports). EU countries account for about 16% of Uzbekistan’s total imports of “machinery, equipment and transport vehicles,” including almost all imported civil aircraft, as well as 40% of total pharmaceutical imports.

In 2024, the main share of Uzbekistan’s trade turnover with EU countries was with: Germany (19.1%), France (17.8%), Lithuania (9.4%), Italy (6.9%), Czech Republic (6.8%), Poland (6%), Latvia (4.5%), the Netherlands (4.2%), Belgium (3.3%), Austria (3.3%), Slovenia (2.8%) and others.