TASHKENT: The foreign trade turnover between Uzbekistan and South Korea reached $1.3 billion from January through August 2024, reflecting a decrease of 14.6 percent from the previous year.

According to Trend News Agency, the trade volume reduction marks a significant shift from the $1.49 billion recorded during the same period in 2023. Despite this downturn, South Korea remains one of Uzbekistan’s top five trading partners. The data indicates that Uzbek exports to South Korea saw a decline to $24.7 million, down 19 percent from $29.4 million in the previous year. Meanwhile, imports from South Korea totaled $1.2 billion, representing a 21.6 percent decrease from $1.46 billion in the earlier period.

In contrast to the bilateral trade reduction with South Korea, Uzbekistan’s overall foreign trade turnover showcased a positive trajectory, totaling $42.7 billion for the same period in 2024, marking a 6.7 percent increase from $40 billion in 2023. This growth is underpinned by a rise in Uzbekistan’s total exports
, which reached $17.3 billion, and imports amounting to $25.3 billion.