Uzbekistan makes textile products for $8.2 bln, boosts textile exports in 2023 - president

TASHKENT. April 17 (Interfax) - Uzbek President Shavkat Mirziyoyev has reported a considerable increase in 2023 in Uzbek textile exports and investments in this sector, which he said could achieve even greater results, the country's official media said on Wednesday.

"The sector's productivity has grown substantially over the past few years due to the active inflow of investments and new technologies. For instance, textiles, clothing and knitwear worth $8.2 billion were produced last year. Their exports stood at $3.1 billion," Mirziyoyev said at a meeting with representatives of major enterprises and relevant agencies.

However, when listing shortages facing the sector, the president said that the share of products with high added value in the overall export of finished goods remains low. He cited the results of an analysis carried out by Boston Consulting Group which show that Uzbekistan's raw material base allows it to manufacture products for at least $15 billion and create 500,000 new jobs.

"The cost of one kilogram of yarn in our country is 28% lower than the world's average. This offers a vast opportunity to increase the production of finished goods and a competitive advantage. The only path in this sector that is right for us is to engage in the complete processing of available raw materials to create high added value and redirect our exports from traditional low-price markets to new, more lucrative ones," Mirziyoyev said.