Uzbekistan continues showing an increase in business activity in August

The following changes were observed in the BAI components

The business activity index in August 2023 increased by 11.0% compared to the previous month and amounted to 1100 points, which is explained by changes in the following components:

• the number of transactions on bank accounts of business entities increased by 4.9%;
• the component associated with operating business entities increased by 0.2%;
• the intensity of the purchase of raw materials on the commodity exchange increased significantly by 4.8%;
• the component of trademarks has increased by 3.5 times.

In the regional context, the Syrdarya region showed the highest growth

In August 2023, the Business Activity Index for all 14 regions increased compared to the previous month. In particular, Syrdarya (49.7%), Jizzakh (46.2%), Bukhara (44.2%), Kashkadarya (41.6%), Surkhandarya (41.2%) regions and the Republic of Karakalpakstan (38.3%) experienced significant growth (Fig.2).

TRANSACTIONS WITH BANK ACCOUNTS

The number of interbank payment transactions in August 2023 amounted to 5,581,9 thousand and increased by 260.8 thousand transactions (an increase of 4.9%) compared to July 2023.

The number of banking operations in 11 regions has increased.

In August 2023, the number of banking transactions between legal entities increased in 11 regions compared to the previous month. In particular, the most significant growth was observed in Syrdarya (27.7%), Jizzakh (18.2%), Samarkand (7.8%), Andijan (6.1%) regions and in the city of Tashkent (6.1%).

At the same time, there was a decline in Tashkent (-12.5%), Bukhara (-5.5%) and Ferghana (-3.2%) regions.

ACTIVITY ON THE COMMODITY EXCHANGE

In August 2023, the exchange component of the BAI was 1.0477. This means an increase in the component level by 4.8% compared to the previous month. This growth is associated with an increase in the number of transactions by 12.2%. At the same time, the average physical volume of goods purchased in each transaction decreased by 2.7%.

At the Republican Commodity Exchange, the total turnover in August 2023 amounted to 5,813.6 billion sums, which is 1.4% more than in the previous month.

ACTIVITY OF ECONOMIC ENTITIES

The component of operating business entities in August 2023 amounted to 1.0021, which means a moderate growth of the component by 0.2% compared to the level of the previous month. In addition, this indicator has a negative value compared to the same period last year with a significant decline of 12.8%.

The number of operating business entities in August 2023 increased by 1,092 units compared to July 2023 (504,259 units) and amounted to 505,351 units.

The number of large enterprises has increased significantly by 10 units.

During the reporting period, the number of small enterprises increased from 409,988 to 411,306 units, which is an increase of 1,318 units. In addition, there is also a decrease in the number of farms from 90,660 to 90,424 units, which is a decline of 236 units. The number of operating large enterprises amounted to 3,621 units, which is an increase of 10 units compared to July 2023.

BRAND REGISTRATION

In August 2023, the index of protected trademarks was 3,4600, which means an increase of 3.5 times compared to the previous month. This month, 173 trademarks and trade names were registered by legal entities.

Ruslan Abdullaev, CERR