In this regard, especially in the context of the crisis caused by the spread of the coronavirus pandemic in Uzbekistan and around the world, experts of the Center for Economic Research and Reforms (Center) conduct monthly monitoring of business activity at the regional and district levels.
The analysis of business activity in the regions of the Republic of Uzbekistan is carried out monthly based on the operational data of the Center (monitoring in all areas of the country, State Customs Committee, State Tax Committee, Central Bank and Uzbek Republican Commodity Exchange).
The results of the monitoring showed that from January 1 to January 31 of this year, the volume of tax revenues increased by 27.3% compared to the same period in the last year.
At the same time, significant increases in tax revenues were observed in Jizzakh (19.2%), Khorezm (15.8%), Syrdarya (9.4%) regions and the Republic of Karakalpakstan (10.1%).
The increase in tax revenues is indicative of a gradual recovery in economic activity after the crisis situations caused by the spread of the coronavirus pandemic.
Revenues from customs duties in the analyzed period increased by 35.3% compared to the same period last year.
The largest increases in customs revenues among the regions of Uzbekistan were observed in Jizzakh (2.4 times), Fergana (2.4 times) and Samarkand (1.1 times) regions.
The growth of customs revenues also indicates the resumption of foreign trade relations with Uzbekistan's main trading partners and the growth of foreign trade activity.
According to the State Customs Committee, the volume of exports since the beginning of the year increased by 7.1% compared to the same period last year.
Among the regions, active growth of exports was noticed in Navoi (4.0 times), Andijan (2.1 times), Jizzakh (95.5%), Syrdarya (80.8%) and Khorezm (70.9%) regions.
The growth of exports of goods signals of the gradual stabilization of the world economy after the acute phase of the coronavirus pandemic and the growth of external demand for goods produced in Uzbekistan.
The volume of loans issued by commercial banks in the analyzed period increased by 4.3%, while the volume of loans repaid in the current period increased by 2.2% compared to the same period last year.
The largest increase in the volume of loans was observed in Surkhandarya (3.1 times), Namangan (2.8 times), Navoi (2.5 times), Kashkadarya (2.1 times) regions and the Republic of Karakalpakstan (2.9 times).
The increase in the volume of issued and repaid loans explains the increase in the activity of business structures in the country and its regions.
Since the beginning of the year, 8440 new business entities have been established in the country, of which the larger amounts account for Kashkadarya (1204), Tashkent (757), Samarkand (672), Fergana (664) regions and Tashkent (1,572).
During the analyzed period, the volume of transactions at the Uzbek Republican Commodity Exchange increased by 40.5% compared to the same period last year.
During this period, there was an increase in exchange activity in all regions of the country. Significant growths are observed in Bukhara (94.1%), Syrdarya (89.6%) and Tashkent (75.3%) regions. This indicates a gradual increase in domestic demand, in particular, an increase in the activity of legal entities as a result of a gradual increase in household income, which stimulates the activity of economic processes and business structures.
Achieving such results was facilitated by the drastic measures taken by the government to support the economy, which helped to ensure positive values in the activities of business structures and their expectations for development prospects.
Center for Economic Research and Reforms
Translated by Mir Akhmadova Musharraf
Lead Research Specialist