THE ROLE OF EXPORT DIVERSIFICATION IN ENSURING SUSTAINABLE ECONOMIC GROWTH IN UZBEKISTAN

Abstract

Export diversification is widely regarded as a central mechanism through which resourcedependent and transition economies can reduce external vulnerability and secure sustainable long-run growth. This article examines the role of export diversification in ensuring sustainable economic growth in Uzbekistan during the period of active market reforms initiated after 2017. Using descriptive statistical analysis of trade data together with a review of theoretical and empirical literature, the study evaluates changes in the commodity and geographic structure of Uzbekistan’s exports, identifies the principal drivers and constraints of diversification, and assesses its contribution to growth stability. The findings indicate that although the share of raw materials, particularly gold and cotton fibre, remains high, Uzbekistan has achieved measurable progress in expanding manufactured and processed exports, notably in textiles, chemicals, and food products, and in broadening the number of trading partners. The article concludes that further diversification, supported by trade liberalization, investment in value-added processing, and institutional reform, is essential for reducing Uzbekistan’s exposure to commodity price shocks and for achieving inclusive, sustainable economic development.