CERR analyzed Business Activity Index of May, 2021

Figure 1. BAI in May 2021 decreased by 8.2% compared to the previous month

The following changes were observed in the components of the BAI

In May 2021, the business activity index decreased by 8.2% and amounted to 918 points. Changes in the following components:

• the number of transactions in bank accounts of business entities decreased by 9.5%;
• the component of operating economic entities remained at the level of the previous month (0.0%);
• the intensity of purchasing raw materials at the commodity exchange decreased by 10.7%;
• brand compoments decreased by 19.2%.

In the regional context, the Samarkand region showed the highest growth.

In May 2021, the BAI increased in 6 regions compared to the previous month (April 2021). Significant growth was observed in Samarkand (35.9%), Syrdarya (33.0%), Surkhandarya (31.9%) regions and in the Republic of Karakalpakstan (31.1%).

At the same time, a significant decline was observed in Fergana (- 11.3%), Khorezm (- 10.4%), Kashkadarya (- 9.9%) and Namangan (- 6.5%) regions.

Figure 2. Business activity index by regions of the Republic of Uzbekistan in May 2021

OPERATIONS WITH BANK ACCOUNTS

The number of interbank payment transactions in May 2021 amounted to 4,576.8 thousand and decreased by 481.3 thousand transactions (-9.5%) compared to April 2021.

The number of banking operations in all regions has decreased.

In May 2021, the number of banking transactions among legal entities decreased in all regions compared to the previous month. In particular, the most significant decline was observed in Namangan (-17.8%), Samarkand (-15.5%), Surkhandarya (-15.1%) regions and in the Republic of Karakalpakstan (-17.2%).

ACTIVITY ON COMMODITY EXCHANGE

In May 2021, the exchange component of BAI was 0.893. This means a decline in the component level by 10.7% compared to the previous month, which is associated with both a decrease in the number of transactions (-7.0%) and a decrease in the average physical volume of goods purchased in each transaction (-14.4 %).

According to the results of April 2021, the Republican Commodity and Raw Materials Exchange amounted total turnover to 5.426.3 billion soums, which is 2.6% less than in the previous month.

ACTIVITY OF BUSINESS ENTITIES

The component of operating economic entities in May 2021 amounted to 1.0000, which means that the level of the previous month is maintained. This indicator has a positive value in relation to the same period last year with an increase of 14.1%.

Despite the increase in the overall number of operating economic entities by 7,283 units in May 2021, this component decreased due to the reduction of large enterprises.

The number of large enterprises decreased by 116 units.

During the reporting period, the number of small businesses increased from 436,742 to 443,497 units (an increase of 6,755 units). The number of farms increased from 106,941 to 107,585 units (an increase of 644 units). The number of operating large enterprises amounted to 3,068 units, which is 116 units less than in April 2021.

BRAND REGISTRATION

In May 2021, the index of protected trademarks was 0.8079, which means a decline of 19.2% compared to the previous month. In May of this year, legal entities registered 265 trademarks and trade names.

Table 1. Changes in BAI components by region to the previous month

Table 2. Changes in BAI by regions to the same period of the last year (April, 2020)

Ruslan Abdullaev, CERR