The upward trend of the bilateral exchange has caught a hike from 2020 onwards worth a value of 8.7 billion US dollars to a significant growth of 6% in 2021. The pro-business policies signed between the two top traders worldwide and their economic policies are the reasons that facilitate trade growth.

The detailed trade analysis of the China Shipment Data says that the country’s bilateral trade recorded a staggering value of 17 billion US dollars in 2023. The import value of traded products from China to Uzbekistan has reached 3 billion US dollars in 2023 while exports stand at 5.7 billion US dollars.

Top 10 Bilateral Trades Exchange Between Uzbekistan and China in 2023

Diving into the in-depth trade analysis of the products exchanged between these countries having a huge potential for economic cooperation suggests that they trade a wide range of products for domestic and international necessities. As per the Uzbekistan Customs Data, the top 10 bilateral trade exchanges between these two countries with their gross trade values are discussed below,

• Oil and Gas – Valuation of trades exchange of Oil and Gas within Uzbekistan and China in 2023 – 4 billion US dollars.

• Cotton – Valuation of trade exchange of Cotton within Uzbekistan and China in 2023 – 3 billion US dollars.

• Machinery and equipment – Valuation of trade exchange of Machinery and equipment within Uzbekistan and China in 2023 – 2.5 billion US dollars.

• Wheat – Valuation of trade exchange of Wheat within Uzbekistan and China in 2023 – 2 billion US dollars.

• Metals – Valuation of trade exchange of Metals within Uzbekistan and China in 2023 – 1.8 billion US dollars.

• Pharmaceuticals – Valuation of trade exchange of Pharmaceuticals within Uzbekistan and China in 2023 – 1 billion US dollars.

• Textiles – Valuation of trade exchange of Textiles within Uzbekistan and China in 2023 – 978 million US dollars.

• Jewelry – Valuation of trade exchange of Jewelry within Uzbekistan and China in 2023 – 870 million US dollars.

• Fruits and vegetables – Valuation of trade exchange of Fruits and vegetables within Uzbekistan and China in 2023 – 700 million US dollars.

• Optical and medical instruments – Valuation of trade exchange of Optical and medical instruments within Uzbekistan and China in 2023 –600 million US dollars.

Rapid Trade Explode: Detailed Analysis of the 1.5 Time Surge in Bilateral Exchange of Uzbekistan and China

The rapidly evolving economic growth of both the countries Uzbekistan and China has been setting goals for the other top traders worldwide with its vast industrial expansion and diversity in its export and import trade rates. According to the Uzbekistan Customs Shipment Data, the factors that contribute to the impressive trade growth of both nations are discussed below,

• Economical Reforms of Uzbekistan – The Federal Republic of Uzbekistan has implemented different economic reforms to make the trade destination more attractive for different foreign traders worldwide.

• Belt and Road Initiative – The huge investment of the trade management authorities of the nation in the transport sector and the logistic infrastructure have facilitated the trade landscape of both nations through its regional integration.

• Diplomatic Relations – The different efforts done by the government authorities to enhance the diplomatic ties with the top traders worldwide through frequent visits of leaders have fostered the trust and collaboration of foreign trade rates.

• Mutual Trade Agreements – The preferential trade agreements and the bilateral trades signed between the collaborative business ventures between Uzbekistan and Chinese firms facilitate the trade growth between the two.

• Higher Market Demand – The vast consumer market of China and its agricultural and natural resources for meeting the diversified trends of consumer needs; facilitates trade growth.

Top 10 Brands Facilitating the Bilateral Trade Growth of the Two Nations

The China Trade Data and the Uzbekistan Trade Data shows that the growing trade rate of the nation is facilitated by different brands, some of the leading ones are discussed below,

• Huawei – Valuation of trades from Huawei – 6 billion US dollars.

• China National Petroleum Corporation (CNPC) – Valuation of trades from China National Petroleum Corporation (CNPC)– 5 billion US dollars.

• China Road and Bridge Corporation (CRBC) – Valuation of trades from China Road and Bridge Corporation (CRBC) – 4 billion US dollars.

• ZTE Corporation - Valuation of trades from ZTE Corporation – 3 billion US dollars.

• China Railway Engineering Corporation (CREC) - Valuation of trades from China Railway Engineering Corporation (CREC) – 2 billion US dollars.

• Sinochem International - Valuation of trades from Sinochem International– 1.8 billion US dollars.

• China Merchants Group - Valuation of trades from China Merchants Group – 1 billion US dollars.

• Alibaba Group - Valuation of trades from Alibaba Group– 900 million US dollars.

• China National Chemical Corporation (ChemChina) - Valuation of trades from China National Chemical Corporation (ChemChina) – 870 million US dollars.

• Sinopec - Valuation of trades from Sinopec – 600 million US dollars.

FAQ’s

Que. What is the top traded product between Uzbekistan and China in 2023?
Ans. Oil and gas is the top traded product between Uzbekistan and China in 2023.

Que. Name the top brand facilitating the growing trade of Uzbekistan and China in 2023?
Ans. Huawei is the top brand facilitating the growing trade of Uzbekistan and China in 2023.

Que. Where can you get a detailed trade analysis of Uzbekistan and China in 2023?
Ans. By subscribing to Import Globals, you can get a detailed trade analysis of Uzbekistan and China in 2023.

Que. What is the bilateral trade rate of the trades between Uzbekistan and China in 2023?
Ans. The rate of bilateral trade between the dominating traders Uzbekistan and China in 2023 is 17 billion US dollars.

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