Since 2023, the dynamics of Uzbekistan’s business climate have been regularly updated by CERR on the Trading Economics platform.
The composite business climate indicator continued to rise in October, reaching 55 points, which is 13 points higher than the same period last year. All components contributed to this improvement.
An enhanced business climate was recorded across all sectors. In particular, agriculture grew by 11 points year-on-year to 61; industry increased by 8 points to 46; construction and services rose by 13 and 17 points, reaching 58 and 57, respectively.
Current business conditions improved faster than expectations.
The current situation index rose by 22 points, reaching 55, while the expectations index grew by 4 points to 56. A sectoral breakdown of current conditions shows strong growth in agriculture (+23, to 60), industry (+15, to 45), construction (+21, to 57), and services (+26, to 57), which recorded the most significant improvement.
Expectations for the next 3 months remain positive. Forecast indicators by sector show 62 points in agriculture, indicating a high level of optimism; 46 points in industry, reflecting positive expectations; and stable expansion in construction and services at 59 and 57 points, respectively.
According to the survey, half of all entrepreneurs (50%) in the country rate their current business conditions as good, compared to 38% a year earlier. 42% of enterprises reported improved business performance over the past three months, versus 32% in the previous year. Every second entrepreneur (50%) noted increased demand, while only 35% reported such growth a year ago.
The Uzbekistan Business Climate Index is calculated by the CERR based on surveys of over 1,000 enterprises across various sectors. The index is constructed using the methodology of Germany’s IFO Institute. During the surveys, business leaders assess current and expected changes in the business environment, based on production dynamics, demand, and other factors.
Zokhidjon Gaipov
Sector for the Study of Competitiveness
of Economic Sectors and Investment Activity
leave a comment