The Center for Economic Research and Reforms (CERR) conducts a monthly survey among 1,000 entrepreneurs across the country representing various sectors of the economy.
Starting from January 2023, the Business Climate Index of Uzbekistan is periodically published on the international economic portal Trading Economics.
The state of the business climate in Uzbekistan improved markedly in March, as evidenced by the results of a survey by the Center for Economic Research and Reforms (CERR).
In March, the consolidated business climate indicator increased in all sectors, with the largest growth observed for the second month in a row in the agriculture sector. If in February the consolidated business climate indicator was 58 points, then in March it was 64, having increased by 6 points, which assesses the state of the business climate in the country as positive.
According to estimates, 42% of respondents noted the current state of business as "good", and the number of enterprises that noted deterioration decreased from 14% to 10%.
22% of enterprises increased the number of their employees, and 45% noted an increase in demand for their goods/services.
The state of demand in March was generally characterized by companies better than in February. If in February 40% of enterprises expected an increase in demand, then in March already 45%.
Demand estimates have increased markedly among enterprises in the agricultural and industrial sectors.
Current business assessments have improved markedly. The consolidated indicator of the current state of business increased by 12 points over the month and amounted to 49 points, compared to 35 in March.
The consolidated indicator of expectations of business development prospects in the next 3 months remains at a high level – 80 points (in March 2022 – 74 points), which is supported by very high optimism in all industries.
The share of entrepreneurs expecting an improvement in the general state of business in the next 3 months was 81%, 73% expect a further increase in demand for goods and services, and 66% plan to increase the number of employees.
In March, the price expectations of enterprises participating in the CERR survey continue to remain unchanged for the second month in a row, remaining at an elevated level. The highest price expectations remained in the agriculture and construction sector.
According to estimates, 26% of entrepreneurs expect an increase in prices for their goods/services in the next 3 months.
In general, the relationship between the indicators of the current situation and expectations means that the positive trend in economic development will continue in the next 3 months.
Feruzbek Davletov, CERR
Tel.: (+998) 78 150-02-02 (416)
Public Relations Service of the CERR
Tel.: (+998) 78 150-32-20 (417)
leave a comment