Uzbekistan's foreign exchange reserves equal to 20-month import volume

Uzbekistan, Tashkent, Aug. 17 / Trend D.Azizov / Uzbekistan's foreign exchange reserves since 2006 have increased more than six fold and are now equal to a 20-month volume of imports, First Deputy Prime Minister Rustam Azimov said on Friday at the Uzbek-US business forum held in Tashkent. However, he did not give the specific amount of foreign exchange reserves of Uzbekistan. Azimov said the growth of foreign exchange reserves is ensured due an annual export growth by 18 - 20 per cent, while in the structure of exports, the share of products with a high added value by processing raw materials is increasing. The First Deputy Prime Minister also said that Uzbekistan's total public external debt is seven per cent of its GDP and domestic debt issued by treasury obligations will be repaid in full by the end of this year. According to the statistics committee, Uzbekistan's GDP in 2011 grew by 8.3 per cent compared to 2010 and amounted in current prices to 750.6 77 trillion soums. Uzbekistan's foreign trade turnover last year rose by 15 per cent - up to $25.537 billion, in particular, exports grew by 15.4 per cent - up to $15.027 billion, import - by 14.5 per cent - up to $10.509 billion. Foreign trade surplus totalled $4.517 billion compared to $4.247 billion last year (growth - six per cent).