CERR experts present Economic Sectors Development Overview for January-August 2023

CERR experts present Economic Sectors Development Overview for January-August 2023

The Center for Economic Research and Reforms (CERR) conducted a brief express analysis of the main indicators of socio-economic development of the Republic of Uzbekistan on the basis of preliminary statistical data. The overall assessment of the results of socio-economic development in January-August 2023 indicates the positive dynamics of the development of industries and spheres of the economy.

Following the results of 8 months this year, positive dynamics was observed in the industrial sector, in the investment and construction sector and foreign economic activity.

In the sectors of the economy, the indicators were as follows:

Industrial production increased by 5.8% and amounted to 400.6 trillion sums.

The volume of construction works increased by 5.9%, to 93.3 trillion sums.

Foreign trade turnover increased by 23.2% to $40 billion. In particular, exports increased by 27.8% to $16.4 billion, imports by 20.2% to $23.6 billion.

Production in the textile and clothing industry increased by 7.4% to 55.6 trillion sums. Including large enterprises, the production of knitwear increased by 13.8% (33.3 thousand tons), sewing and knitting by 2 times (267.8 million tons). Twenty-one investment projects totaling $207 million have been launched.

The volume of production in the oil and gas industry, in the context of large enterprises, increased by 0.5% to 22.5 trillion sums. Gas production decreased by 9.4% to 31.4 billion cubic meters, oil production increased by 0.2% to 520.3 thousand tons.

As part of the investment program, $954.1 million was disbursed, of which foreign investments and loans amounted to $765.9 million.

The volume of electricity production amounted to 51.7 billion kWh with an increase of 5.7%. At the same time 45.5 billion kWh accounts for the share of thermal power plants, 5.0 billion kWh for hydroelectric power plants and 1.2 billion kWh for renewable electricity sources based on PPP.

As part of the investment program, capital investments in the amount of $235.6 million were made in the industry with an increase of 13.4%.

The production of ferrous metallurgy and products at large enterprises of the industry amounted to 1.0 million tons with an increase of 8.2% compared to the corresponding period last year.

Food industry production increased by 6.7% and amounted to 41.9 trillion sums. At large enterprises, sugar production increased by 5.7%, chocolate and sweets by 9.2%, juices by 24.7%.

From January to August 2023, 389 investment projects worth 1.9 trillion sums were launched.

The production of building materials increased by 13.0% to 18.6 trillion sums. The industry's share in total production reached 4.6%.

For 8 months this year, 1,391 enterprises specializing in the production of new construction materials were created.

The pharmaceutical industry produced goods worth 2.3 trillion sums. Products and services worth $87 million were exported to 27 countries around the world.

Investment funds for $61.4 million have been disbursed. 15 projects worth $7.9 million have been launched. As a result, additional production facilities worth 57.8 billion sums were created, as well as 175 new jobs.

Production in the automotive industry increased by 10% to 44.2 trillion sums. The output of passenger cars amounted to 247.3 thousand, including 1746 units of trucks and 522 buses. Produced 52.5 thousand “Damas” cars, 65.4 thousand “Cobalt" cars, 18.5 thousand "Onyx" cars and 24.5 thousand “Tracker" cars.

The enterprises of JSC ”Uzavtosanoat" performed works for $414.4 million. Exports increased by 20.3% compared to last year. Within the framework of 7 projects totaling $115 million investments worth $66.9 million have been disbursed.

Production in the electrical industry (by enterprises) increased by 18.5% to 13.3 trillion sums. In particular, in the context of large enterprises, the output of cable products increased by 30.2%, household appliances by 21.0%, tension devices by 63.8%.

Processing of copper raw materials as finished products increased by 19.0% and amounted to 42.2 thousand tons, the production capacity of enterprises increased from 40.5% to 61%. The volume of disbursed investments increased by 18.8% to $76.3 million.

The volume of transport services increased by 8.3% to 66.3 trillion sums. Of these, the volume of road transport services amounted to 31.7 trillion. soums with an increase of 5.3%. In January-August, investments in the amount of $804.1 million were disbursed.

Therefore, opportunities have been created for uninterrupted implementation and consolidation of the results of the current period, commissioning of investment projects on schedule, increasing the competitiveness of products and production capacities of enterprises, achieving the planned forecast indicators in industry by the end of the year by providing enterprises with natural gas and electricity in full.

CERR Public Relations Service

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