Economic Development of Uzbekistan in the 1st Half of 2025
In the 1st half of 2025, Uzbekistan’s economy continued to demonstrate an accelerated growth trend.
According to data from the National Statistics Committee, gross domestic product (GDP) amounted to 807.9 trillion sums in January–June 2025, marking a 7.2% increase compared to the same period of the previous year.
Positive trends persist among key foreign trade partners. GDP growth in Kazakhstan for January–June reached 6.2%, in Kyrgyzstan 11.7%, in China 5.3%, and in Russia 1.4%, according to Rosstat.
Inflation has slowed. The consumer price index stood at 104.2% compared to December 2024, indicating a deceleration in price growth relative to earlier periods. Prices in food and non-food segments have shown moderate growth, while services remain the main driver of inflation, exerting the greatest impact on overall consumer price levels.
Investments in fixed capital increased by 5.5%, reaching 273.4 trillion sums. Although this reflects a slowdown compared to the high growth rates recorded early last year, investment activity remains stable. Decentralized sources continue to dominate, including funds from enterprises and households as well as foreign direct investment.
Production sectors continue to show solid growth. Industrial output rose by 6.6% to 488.5 trillion sums, agriculture, forestry and fisheries by 4.0% to 194.9 trillion sums, and construction works by 10.7% to 137.6 trillion sums.
The services sector is also expanding actively. The volume of services provided grew by 13.3% to 458.2 trillion sums, while retail turnover rose by 9.7% to 198.7 trillion sums. This strong growth in services and trade is driven by rising household incomes, ongoing digitalization, increased adoption of online payments and digital platforms, making the service sector increasingly dynamic.
Foreign economic activity remains strong. Foreign trade turnover reached $37 billion, up by 16.1%. Exports totaled $16.9 billion (up 29.1%), while imports rose by 7.0% to $20.1 billion. Export growth was driven by increased deliveries of services, raw materials, and energy resources.
Overall, in the first half of 2025, Uzbekistan’s economy demonstrated steady recovery and structural resilience. Active investment and foreign economic policy, support for the real sector, and a decline in inflationary pressure contribute to a positive macroeconomic trajectory.
CERR Public Relations Sector
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