Government outlines plan to reduce trade deficit by boosting exports

We use cookies to improve website performance and enhance your user experience. By continuing to browse, you agree to the use of cookies Kun.uz Privacy Policy Uzbekistan plans to balance its negative trade balance within the next 5–7 years, Minister of Investments, Industry and Trade Laziz Kudratov said on March 12 during a government hour session at the Legislative Chamber of the Oliy Majlis The statement came in response to a question from Nigora Lutfullaeva, a deputy of the Legislative Chamber, member of the Committee on Agrarian and Water Resources Issues, and representative of the Milliy Tiklanish party faction. She asked about the strategic measures being taken to reduce the country’s negative trade balance According to official data, Uzbekistan’s foreign trade deficit increased from $12.69 billion to $13.54 billion in 2025 Kudratov noted that about 75% of imports consist of equipment, technologies, raw materials and semi-finished products. These imports are primarily used to support industrial development and expand export capacity rather than to supply finished consumer goods “If imports of such resources stop, industry and exports will not be able to develop,” the minister said He added that the government has developed a clear export growth strategy with projections calculated through 2030. Under these plans, the country aims to balance exports and imports within five to seven years In recent years, exports have been growing faster than imports. Over the past two years, export volumes increased by an average of 20–25%, while imports rose by about 15–18% To further boost exports, the government plans to implement major investment projects and increase value creation within these initiatives Kudratov said that investment projects in the geology sector alone could generate an additional $10–12 billion in export revenues. Similar projections have been made for other sectors, and authorities expect these measures to help balance exports and imports within the targeted 5–7 year period Reproduction, duplication and distribution of materials in any form is permitted only with prior written permission of the publisher.KUN.UZ. Certificate: No. 0987 Date of issue: June 22, 2015 Founder: WEB EXPERT LLC Editorial address: 100043, 1-Charkh Kamolon 12, Novza street, Chilanzar district, Tashkent Ⓣ - this sign on articles and materials means that they are published on the basis of commercial and advertising rights