Uzbekistan’s gross domestic product (GDP) reached 333.6 trillion soums, or $25.9 billion in current prices for January-March 2025, the National Statistics Committee said in a report.
Compared to the same period last year, the volume of the economy grew by 6.8%. The growth rate is higher than in January-March 2024 (6.2%), 2023 (5.5%) and 2022 (5.8%).
The value of services increased by 7% (6.8% - in the same period last year), industry showed growth of 6.5% (6.5%), construction - by 10.7% (6.8%), agriculture, forestry and fisheries - by 3.8% (3.6%). The growth rate of passenger turnover slowed from 5% to 4.3%, and freight turnover — from 6.2% to 2%.
In Q1, industrial production stood at 211.3 trillion soums. The largest growth was demonstrated by enterprises producing rubber and plastic products (+52.5%) and textiles (+3.1%). A decrease was observed in oil and gas production (-9.8%) and the production of metal products (-20.9%).
The volume of agricultural, forestry and fishery produce topped 52.7 trillion soums (+3.8%). The growth occurred due to an increase in production of:
- eggs — by 7.2%;
- vegetables — by 5.0%;
- meat and milk — by 3.6%.
Farms accounted for the bulk of production (85.6%).
The volume of construction stood at 50.3 trillion soums (+10.8%). 21.9% of the work was performed by large enterprises, 48.2% by small and micro firms, 29.9% by the informal sector.
Retail turnover reached 90.3 trillion soums (+9.5%). The share of large enterprises in this area is 17.5% (an increase of 14.8%), small businesses - 72.3% (an increase of 7.8%), unorganized trade - 10.2%.
The volume of market services increased by 12.6% - to 210.8 trillion soums (versus 14.2% in January-March 2024). Leaders in growth rates:
- finance — +19.6%,
- communications and ICT — +24.3%,
- transport — +11.5%,
- food and accommodation — +9.6%,
- trade — +9.1%.
- Inflation, investments and trade
Over three months, inflation in the consumer sector was 2.1% (previously 1.7%). Food items increased in price by 2.9%, non-food products — by 0.8%, services — by 2.6%.
The volume of investments in fixed assets is estimated at 120.4 trillion soums (+7.9%). Main sources:
- foreign direct investment (FDI) and loans — share of 65.3% (of which FDI — 36.6%),
- foreign loans under state guarantees — 5.7% (growth of 23.8%),
- enterprise funds — 17%,
- household funds — 7%,
- bank loans — 2.3%.
While, Uzbekistan’s international trade topped 17.3 billion dollars (+8.6% against 7%). Exports including gold increased by 24.4% — to 8.1 billion dollars (was 12.3%), imports decreased by 2.3% — to 9.2 billion dollars (growth of 3.6%).
The main export goods were gold (44%), manufactured goods (11.1%), food items (5.8%), chemicals (5.2%). The imports are dominated by machinery and transport (35.1%), industrial goods (16.2%) and chemicals (13.1%).
Enterprises and organizations
As of April 1, 2025, there were 442.4 thousand operating enterprises in Uzbekistan (-5.7%, there were 469.1 thousand), of which 372.9 thousand are small and micro firms. The largest number is in Tashkent, Tashkent, Samarkand and Fergana provinces.
In Q1, 21.3 thousand new companies were created. The number of foreign-invested enterprises stood at 15,739, of which 4,031 are joint ventures, 11,708 are completely foreign.
