May Shows Growth in Business Activity Across Uzbekistan’s Regions – CERR
Comprehensive monitoring of key business activity indicators across Uzbekistan’s regions points to growth across all major metrics.
Based on operational data from the Tax Committee, Customs Committee, the Central Bank, and the Uzbek Republican Commodity Exchange, the Center for Economic Research and Reforms (CERR) monitors business activity across the regions of the Republic of Uzbekistan.
By the end of May this year, tax revenues demonstrated steady positive dynamics, increasing by 39.8% compared to the same period last year.
The most notable increase in revenues was recorded in the Navoi Region, Syrdarya Region, Tashkent Region, Kashkadarya Region, and Samarkand Region, where growth rates averaged over 30%.
Personal income tax revenues increased by 18.6%, property tax revenues by 15.2%, and land tax revenues by 31.9%.
Customs payments rose by 20.1%. The highest growth rates were recorded in the Namangan Region (63.3%) and Navoi Region (52.8%).
Stable positive dynamics were also observed in the Fergana Region and Samarkand Region, as well as in the Republic of Karakalpakstan, where revenues increased by an average of 36%.
Analysis of foreign economic indicators showed that goods exports increased by 31.8%. The most significant growth in export shipments was recorded in the Navoi Region (53.7%) and Tashkent Region (52.8%). In the Andijan Region, Samarkand Region, Surkhandarya Region, and Bukhara Region, as well as in Tashkent, export growth averaged over 32%.
Growth in lending was also observed. During the reporting period, the volume of loans issued by commercial banks increased by 3.4%. The highest growth was recorded in the Samarkand Region (54.8%). In the Bukhara Region, Tashkent Region, Khorezm Region, and Andijan Region, as well as in the Republic of Karakalpakstan, lending growth averaged more than 26%.
The active development of the private sector is further confirmed by a significant increase in the number of newly established business entities. In May this year, 36,957 new enterprises were registered. The largest number of new entities was registered in the Tashkent Region (3,857), Khorezm Region (3,151), Samarkand Region (2,994), and Fergana Region (2,662), as well as in Tashkent (8,029).
Transaction volume on the UzEx increased by 14.2%. The highest growth in exchange activity was recorded in the Navoi Region, where activity increased by 46.6%. Growth was also observed in the Bukhara Region, Surkhandarya Region, Syrdarya Region, and Khorezm Region, where exchange activity increased by an average of over 30%.
Sultonmurod Ozodov, CERR
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