Uzbekistan demonstrates confident positive trends: BAI is growing significantly

The following changes were observed in the BAIcomponents

The BAI in October 2024 increased moderately by 17.7% compared to the previous month and amounted to 1,177 points, due to changes in the following components:

• the number of transactions on bank accounts of business entities increased by 12.9%;
• the component related to operating business entities increased by 30.9%;
• The intensity of the purchase of raw materials on the commodity exchange increased moderately by 1.2%;
• the component of trademarks increased significantly by 20.4%.

In the regional context, Kashkadarya region showed the highest growth

The BAI for all 14 regions increased compared to the previous month. In particular, Kashkadarya (50.7%), Syrdarya (49.7%), Andijan (47.9%), Jizzakh (43.5%), Tashkent (42.9%) and Navoi (42.5%) regions saw significant growth (Fig.2).

TRANSACTIONS WITH BANK ACCOUNTS

The number of interbank payment transactions in October 2024 amounted to 6,332.9 thousand and increased by 723.9 thousand transactions (an increase of 12.9%), compared with September 2024.

The number of banking transactions in all 14 regions has increased.

The number of banking transactions between legal entities increased in all 14 regions compared to the previous month. In particular, Syrdarya (22.6%), Jizzakh (16.8%), Kashkadarya (16.2%), Namangan (15.0%) and Bukhara (14.8%) regions saw significant growth.

ACTIVITY ON THE COMMODITY EXCHANGE

The exchange component of the BAI was 1.3087. This means a 30.9% increase in the component level compared to the previous month. This growth is associated with a significant increase in the number of transactions by 64.5% and a moderate increase in the average physical volume of goods purchased in each transaction by 0.4%.

At the Republican Commodity Exchange (UzEx), the total turnover amounted to 7,046.9 billion sums, which is 36.4% more than in the previous month.

ACTIVITY OF BUSINESS ENTITIES

The component of operating business entities amounted to 1.0122, which means that the component increased by 1.2% compared to the level of the previous month. And also, this indicator has a positive value compared to the same period last year with a moderate decline of 2.3%.

The number of operating business entities increased by 3,296 units compared to September 2024 (493,072 units) and amounted to 496,368 units.

The number of large enterprises increased by 107 units.

During the reporting period, the number of small enterprises increased from 399,031 to 402,209 units, which is an increase of 3,178 units. Also, the number of farms increased from 90,379 to 90,390 units, which is an increase of 11 units. The number of operating large enterprises amounted to 3,769 units, which is an increase of 107 units compared to September 2024.

BRAND REGISTRATION

The index of protected trademarks was 1.2043, which means an increase of 20.4% compared to the previous month. This month, 619 trademarks and trade names were registered by legal entities.

Ruslan Abdullaev, CERR