In January 2023, the Business Activity Index (BAI), calculated by the Center for Economic Research and Reforms, amounted to 1001 points, and compared to the previous month, it moderately increased by 0.1%. And there is also a 15 percent increase in BAI compared to the same period last year.
The following changes were observed in the BAI components
The Business Activity Index in January 2023 increased by 0.1% compared to the previous month and amounted to 1001 points, which is explained by changes in the following components:
- the number of transactions on bank accounts of business entities decreased by 26,3%;
- the component of operating business entities decreased by 2,9%;
- the intensity of the purchase of raw materials on the commodity exchange increased by 19,2%;
- the component of trademarks increased by 74,5%.
In the regional context, the Jizzakh region showed the highest growth
In January 2023, the Business Activity Index for 6 regions increased compared to the previous month. Significant growth was observed in the Jizzakh (38.0%), Syrdarya (29.9%), Ferghana (27.9%) regions and in the Republic of Karakalpakstan (35.6%) (Fig.2).
At the same time, this index for 8 regions decreased. In particular, in Navoi (-26.9%), Kashkadarya (-8.1%) regions and in Tashkent (-7.4%), there was a significant decline compared to the previous month.
TRANSACTIONS WITH BANK ACCOUNTS
The number of interbank payment transactions in January 2023 amounted to 4,737.8 thousand and significantly decreased by 1,689.6 thousand transactions (a decline of 26.3%), compared with December 2022.
The number of banking transactions in all 14 regions decreased.
In January 2023, the number of banking transactions between legal entities decreased in all 14 regions compared to the previous month. In particular, the most significant decline was observed in Namangan (-32.4%), Kashkadarya (-31.2%), Navoi (-30.2%), Fergana (-29.6%), Surkhandarya (-29.4%), and Khorezm (-28.4%) regions.
ACTIVITY ON THE COMMODITY EXCHANGE
In January 2023, the exchange component of the BAI was 1.1923. This means a significant increase in the level of the component by 19.2% compared to the previous month, which is due to an increase in the average physical volume of goods purchased in each transaction by 19.9%, as well as an increase in the number of transactions by 18.5%.
At the UzEx, the total turnover in January 2023 amounted to 6,202.2 billion sums, which is 9.1% less compared to the previous month.
ACTIVITY OF ECONOMIC ENTITIES
The component of operating business entities in January 2023 amounted to 0.9713, which means a decline in the component by 2.9% compared to the level of the previous month. At the same time, this indicator has a positive value in relation to the same period last year with an increase of 9.1%.
The number of operating business entities in January 2023 significantly decreased by 23,343 units compared to December 2022 (636,734 units) and amounted to 613,391 units.
The number of large enterprises has significantly decreased by 27 units.
During the reporting period, the number of small enterprises decreased from 523,556 to 503,804 units (a decline of 19,752 units). Also, the number of farms decreased from 109,512 to 105,948 units (a decline of 3,564 units). The number of operating large enterprises amounted to 3,639 units, which is 27 units less than in December 2022.
In January 2023, the index of protected trademarks was 1.7452, which means a significant increase of 74.5% compared to the previous month. In January of this year, 363 trademarks and trade names were registered by legal entities.
Ruslan Abdullaev, CERR
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