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Geography of services

Economy of Uzbekistan

The Economy.

Uzbekistan is the world's 14th largest producer of natural gas, the world's third largest exporter and sixth largest producer of cotton, the world's seventh largest uranium reserves (4% of world uranium reserves), Uzbekistan ranks fourth in the world for total gold reserves and seventh for gold production. In the first quarter of 2022 GDP growth in Uzbekistan was 5.8% compared to the same period of 2021, foreign investments to the amount of $2.4 billion, the forecast indicator was fulfilled by 167%.

Trade.

amounted to $12.9 billion and increased by 7% compared to the same indicator of the previous year. In the reporting period, the volume of exports amounted to 5.1 billion dollars, which compared to last year is less by 951.3 million dollars or 18%.

417

Small industrial zones

Free economic zones

41.2B USD

Uzbekistan's trade turnover in 2021

11.1B USD

Developed in fixed capital for 2021

In 2019, as part of the country's industrial policy, strategies were adopted for the development of industries until 2025: oil and gas, electric power, light industry, machine building, chemical, food, electrical engineering, building materials industry, and non-ferrous metallurgy.

The strategies determine the main directions of further development of the industries. It also envisages the solution of key problems in each specific industry. In addition, the National Concept of Industry Development of the Republic of Uzbekistan until 2025 is being developed.

Thanks to the reforms implemented, significant results have been achieved in the development of the sector. In particular, over the past three years, the period 2016-2018, the production volume of the industry has increased by a third.

The high rate of development of industry has made it possible to increase the contribution of industry to the economy of Uzbekistan from 20.6% to 26.3%. By the end of 2019, the index of physical volume of industry is expected to grow at 6.4%, and the share of industry in GDP at 29%.

Industry of Uzbekistan