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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchUzbekistan’s trade deficit measures exports of goods and services against imports; its current-account deficit also includes net income and current transfers. In the Central Bank of the Republic of Uzbekistan’s review published 29 September 2026, the trade-balance deficit for the first half of 2026 was $13.4 billion, while the current-account deficit was approximately $6.2 billion. Positive income balances account for much of the difference.
What each deficit measures
The trade balance is exports minus imports of goods and services. It is negative when a country buys more goods and services from abroad than it sells to the rest of the world. The current account is broader: it combines that trade balance with primary income and secondary income, which includes current transfers.
The IMF describes the current-account balance as the trade balance plus net factor income—such as interest, dividends, or workers’ remittances—and transfers from abroad. The IMF’s explainer was written by Atish Ghosh and Uma Ramakrishnan and published on 10 May 2017. The World Bank likewise defines current-account transactions to include goods, services, earned income, and transfer income between residents and non-residents. World Bank indicator metadata provides that definition.
Uzbekistan’s first-half 2026 figures
The Central Bank of the Republic of Uzbekistan (CBU) reported the following for January–June 2026. These are six-month figures, not full-year 2026 totals; the review was published on 29 September 2026 and follows the IMF balance-of-payments methodology.
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| Measure | CBU figure for H1 2026 | What it includes |
|---|---|---|
| Trade balance | $13.4 billion deficit | Exports and imports of goods and services |
| Current account | Approximately $6.2 billion deficit | Trade balance plus primary and secondary income |
The CBU reports exports of $15.4 billion and imports of $28.8 billion. It says imports rose 24% year on year. Total exports fell 8.6%, mainly because gold exports declined; non-gold exports rose 27% and services exports rose 45%. Those trade movements form the starting point for the broader current-account calculation. See the CBU’s H1 2026 review release.
Why the current-account deficit was smaller
In the same H1 2026 review, the CBU reported a positive primary-income balance of $1.9 billion and a positive secondary-income balance of $5.3 billion. Together, those balances partly offset the $13.4 billion trade deficit, leaving the current-account deficit at approximately $6.2 billion. The figures are rounded, so the reported amounts need not reconcile exactly when subtracted.
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Primary income covers income associated with factors such as labor and investment, while secondary income records current transfers, including remittances. A surplus in either category reduces the current-account shortfall; a deficit in either would widen it.
How financing fits in—and what it does not mean
The financial account is separate from the current account. It records financing flows such as direct, portfolio, and other investment; these flows help show how a current-account deficit is financed, but they are not added to the current-account total.
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For H1 2026, the CBU said investment transactions mainly financed the current-account deficit. It reported net foreign direct investment inflows of $2.3 billion, portfolio investment inflows of around $2 billion, and other-investment net inflows of around $1.5 billion. These are financial-account entries for the same reporting period, not components of the approximately $6.2 billion current-account deficit. The CBU release sets out the figures.
How the distinction looks in the 2025 annual review
The CBU’s 2025 annual balance-of-payments review reported a $19.9 billion deficit in trade in goods and services and a $5.8 billion current-account deficit. It also reported positive net secondary income of $13.7 billion and positive net primary income of $371.4 million, which partly offset the trade balance. For 2024, that annual review placed the current-account deficit at $5.7 billion, or 4.7% of GDP.
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These figures come from the CBU’s 2025 annual review, not the H1 2026 release. Historical balance-of-payments estimates can differ across publications when data are revised, so the reporting vintage matters when comparing years. Consult the CBU annual review.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What a deficit does—and does not—tell you
A current-account deficit is an accounting measure, not by itself proof that an economy is in distress or that imports are inherently harmful. As the IMF explains, the balance can reflect the relationship between national saving and investment. Its sustainability depends in part on the liabilities accumulated abroad and whether financing remains available. A single deficit figure therefore describes the balance of cross-border transactions for a period; it does not, on its own, establish whether that balance is sustainable.
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