DETERMINANTS OF UZBEKISTANʼS EXPORT GROWTH: AN ANALYSIS OF PRODUCT AND MARKET DIVERSIFICATION
DOI:
https://doi.org/10.60078/2992-877X-2025-vol3-iss6-pp197-205Abstract
This paper presents an empirical analysis of Uzbekistanʼs export structural diversification during 2017–2024. Horizontal diversification is measured by the number of exported products and the Herfindahl–Hirschman Index, while vertical diversification is evaluated through average unit export values. Regression results reveal that an increase in the number of exported products significantly boosts export volume, especially for trade with neighboring countries. For distant markets, both product variety and higher value-added goods play an important role, emphasizing the need to promote vertical diversification. The study also finds a high dependency on a limited number of export items, particularly gold. Given Uzbekistanʼs landlocked position and high transport costs, shifting toward processed, value-added, and technologically advanced exports is essential for sustainable growth.
Keywords:
export diversification horizontal diversification vertical diversification export volume economic stabilityReferences
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