Friday, 21, August, 2026

Economy

Uzbekistan has handed over management of Samarkand province's electricity distribution network to a private Turkish company, the Energy Ministry announced.

Uzbekistan is in the midst of "extensive preparations" for a second nuclear plant project, President Shavkat Mirziyoyev announced on August 17 in Khorezm province during a ceremony launching new investment projects.

Uzbekistan’s imports of mineral fuels, lubricants, and related materials climbed 19.3% year-on-year to $2.23 billion during the first half of 2026, according to data from the National Statistics Agency. This is up from approximately $1.87 billion recorded during the same period last year.

Uzbekistan's shadow economy generated 245.5 trillion soums (roughly $20.6 billion) in gross value added during January-June 2026, the State Statistics Committee said in a report.

Starting January 1, 2027, new rules will take effect governing the sale of goods and services to the public on an BNPL basis. The change follows the signing of the President's Steps to improve buy now pay later (BNPL) services for the public Decree.

Uzbekistan's international trade turnover reached $41 billion in the first half of 2026, up 7.4% from the same period last year, according to preliminary data from the State Statistics Committee.

Uzbekistan imported 710,000 tons of gasoline worth $426 million between January and July 2026, the State Customs Committee has reported.

Tashkent has completed a mass appraisal of more than 600,000 apartments and over 213,000 private homes, the Ministry of Economy and Finance announced.

Uzbekistan imported a $447.7 million total worth of 37,874 electric vehicles between January and June 2026, the National Statistics Committee said in a report.

China emerged as Uzbekistan’s top trading partner in the first half of 2026, with bilateral trade volume reaching $9.5 billion, the National Statistics Agency said in a report.

Global central banks purchased a net total of 51 metric tons of gold in June 2026, the World Gold Council said in a story.

Uzbekistan is prepared to supply Kyrgyzstan with approximately 20,000 metric tons of refined petroleum products per month, processing imported crude oil at its domestic refineries to meet the demand. Kyrgyz news outlet 24.kg reported the development, citing Adylbek Kasymaliev, First Deputy Chairman of the Kyrgyz Cabinet of Ministers.

Uzbekistan’s international trade reached $41 billion in value during the first half of 2026, marking a $2.8 billion (7.4%) increase compared to the same period in 2025, the Statistics Agency said in a report.

The state's role in Uzbekistan's economy remains substantial despite privatization programs, according to a report from the International Monetary Fund.

Uzbekistan’s economy expanded by 8.5% in the first half of 2026. However, to noticeably raise living standards for the country's 40-million-strong population, economic growth must accelerate to 9–10%. President Shavkat Mirziyoyev made these remarks today 21 during a videoconference meeting reviewing first-half economic performance and outlining objectives for the remainder of the year.

Uzbekistan is facing an aggressive spike in bureaucratic overspending and national debt servicing costs, raising immediate warning signs about the long-term sustainability of the country’s fiscal framework.

The Ministry of Economy and Finance has sharply raised its growth forecast for Uzbekistan's economy in 2026 — from 6.6% to 8.1%. The updated estimates appear in the Fiscal Strategy for 2027–2029.

According to a new analytical report from the World Bank, logistics, tourism, and pharmaceuticals are the sectors with the highest potential in Uzbekistan's economy. If targeted reforms are carried out in these areas, the country stands to create more than 300,000 new jobs and attract billions of dollars in private investment.

Between January and May 2026, Uzbekistan conducted trade operations with 185 countries worldwide, the National Statistics Committee said in a report. During this five-month period, China retained its position as the nation's largest trading partner, followed closely by Russia and Kazakhstan.

In January-May 2026, Uzbekistan imported $724.7 million worth of natural gas, the State Statistics Committee said in a report.