Textile Industry
Exports Of Uzbekistan Textile Industry
Increased By 112% To $1 Billion As New Markets Opened Up And New Goods Were Developed. Textile Items Are Shipped To 57 Countries And Regions. Russia (39%) Was The Most Popular Destination, Followed By China (18%), Kyrgyzstan (13%), And Turkey (12%). Uzbekistan Textile Market Shipped To Hungary, Slovakia, And Greece In Addition To Regular Markets. It Has Also Exported Textile Products To Kuwait For The First Time With The Help Of The Uzbek Embassy There. The Textile Market Business Sector In Uzbekistan Improved Its Export Commodity Composition By Raising The Share Of Value-Added End Goods Such As Knitwear And Readymade Garments To 51 Percent.
Uzbekistan Textile Business Sector Offers Top Quality Textile Products
The Uzbek Government Has Stated Measures To Minimise Raw Cotton Exports While Increasing Domestic Manufacturing As A Local Value Addition. Cotton Production Capacity Is 1.4 Million Tonnes Per Year In Uzbekistan Textile Industry, With Around 60% Of It Used To Meet The Needs Of Local Textile Sector. However, In 2017-18, Uzbek Produced 0.838 Million Tonne Cotton, According To A Statista Report. Raw Cotton Exports Accounted For 28 Percent Of The Country's Total Textile Exports, With A Value Of Roughly $300 Million. Cotton Yarn Exports Totalled $500 Million, Accounting For 44% Of All Textile Exports. The Growth Of Uzbekistan's Textile Sector Is One Of The Country's Policy Priorities. In Uzbekistan, Around 7,000 Different Types Of Businesses Are Active In Textile-Related Sectors.
Innovative Textile Products From Uzbekistan Textile Market
Due To Legislative Improvements And Government Initiatives, The Textile Market Of Uzbekistan Has Seen An Increase In Foreign Direct Investment (FDI). In Recent Years, Foreign Investments In Uzbekistan's Textile Industry Have Totalled $3.1 Billion. South Korea, Turkey, India, Switzerland, Singapore, The United Kingdom, And Germany Accounted For More Than 80% Of All Foreign Investments. It Also Began To Export New Items Such As Protective Masks And Apparel. Textile Firms In Uzbekistan Are Presently Producing 6 Million Masks And 10,000 Sets Of Protective Gear Every Day, Which They Ship To Russia, Kuwait, Ukraine, Belarus, Georgia, And Other Countries. The Administration Also Promised To Make It Easier For Producers To Receive Value-Added Tax Refunds Once They Export Their Goods.
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