Uzbekistan’s GDP expands 6.2% in 1H, writing Intellinews

Uzbekistan’s GDP expands 6.2% in 1H, writing Intellinews

Uzbekistan’s GDP expanded by 6.2% in H1 2021. Growth in industry was posted at 8.5%, investment grew by 5.9% and services gained by 8%. Inflation was recorded at 10.9%. The data were unveiled during a videoconference chaired by President Shavkat Mirziyoyev on August 3, reporting Intellinews.

Industrial products worth $18.7bn were produced, with relatively high growth rates observed in the mining and metallurgical, textile and electric power industries.

While industrial production increased by 41% in Syrdarya region, 33% in Khorezm and 24% in Namangan and Surkhandarya, regions with even more opportunities, such as Ferghana and Tashkent, saw growth of just 1.2% and 4.6%, respectively.

Over one hundred industrial enterprises in the regions produced goods valued at $206.2mn less than last year.

Some 5,246 projects were implemented within the framework of regional investment programmes. Also, over 53,000 new business entities were created in the country in the first half, up by 14% y/y.

The textile industry, according to forecasts, by year-end is set to deliver goods worth over $1.4bn, and export products worth $1.7bn. Electricity exports are set to amount to $348mn, with an export value of $251mn expected from the leather industry.

Mirziyoyev pointed out the unsatisfactory level of work in the fields of animal husbandry and poultry farming.

He stressed that the population's demand for food was growing, and urged an increase in production volumes to meet it.

Noting the state of the services sector, he said:“The state has created all the opportunities. Our people are active and hard working. Now it is necessary to radically change the services sector. This is the lowest-cost way to create new jobs. The more services there are in rural areas, the higher the quality".

Seven commercial banks were allocated $148mn to develop the services sector. As a result, the volume of services increased by more than 18% y/y in 1H.

Share this post

Similar news