Study on Export and Import between Uzbekistan and Russia and its Affects to Uzbekistan’s Economy

Abstract

Considering the need for economic growth with its accompanying rapid globalization in developing countries as well as in Uzbekistan. Their effects in economy growth remain an issue of enormous concern to economists. Uzbekistan’s main export and import destination are China, Russia, Turkey, South Korea. The paper will focus on biliteral trade between Uzbekistan and Russia and it affects to Uzbekistan economy. This study empirically explores the relations between Gross Domestic Products of Uzbekistan, export and import between Uzbekistan and - ii - Russia, labour force data and foreign direct investment in Uzbekistan. It was conducted some chapters. In the first part, it was emphasized economic relations and the major stages in the history of between Uzbekistan and Russia. The following part will look at the prospects of the Russian-Uzbekistan export and import relation and its effects to the economy of Uzbekistan in the near future. Furthermore, it will be answered all question in devoted to the paper. The questions will be about defining the level of exports and imports in Uzbekistan, the level of economic growth and strategies in Uzbekistan and also economic policies to improve the quality and quantity of Uzbekistan’s exports and imports necessary to reach economic growth. Furthermore, it was underlined importance foreign direct investment and labour force in the literature review part. In order to have specific result it was made objectives like to calculate the percentage of change in economic growth as a result of change GDP, export and import data between Uzbekistan and Russia, and foreign direct investment. Moreover, it was provided appropriate conclusions and recommendations for investors in the export and import sectors in Uzbekistan. A regression analysis was run to examine the significance of the relationship between variables. The results were discussed, in addition, suggestions were given in the last part of the paper. Moreover, the paper includes objectives of the research and hypothesis of the result. In the final, all results were summarized.