Entrepreneurial activity is growing in Uzbekistan

Entrepreneurial activity is growing in Uzbekistan

Analysis of business activity is monthly calculated by CERR on the basis of operational data (monitoring in all regions of the republic, according to the data of the State Customs Committee, the State Tax Committee, the Central Bank and the UzEx).

The results of the September monitoring showed that the volume of tax revenues increased by 6.1% compared to last year.

At the same time, a significant increase in tax revenues was recorded in the Jizzakh (+43.4%), Tashkent (+25.0%), Syrdarya (+23.9%), Navoi (+22.4%), Namangan (+17.1%) regions and in the city of Tashkent (+18.8%).

Budget revenues were supported by an increase in income tax receipts by 24%, property tax by 27% and land tax by 20%.

The lowest tax receipts were recorded in Khorezm (-6.3%), Kashkadarya (-8.4%) regions and Karakalpakstan (8.9%).

Receipts on customs payments for the month increased by 21.2%. The greatest growth was observed in Jizzakh (+101.8%), Surkhandarya (+40.6%), Samarkand (+33.3%), Andijan (+25.8%), Tashkent (+25.8%), Namangan (+19.9%) regions and in the city of Tashkent (+27.5%).

The increase in customs revenues was mainly due to an increase in imports, including transport equipment and its components, technical equipment, metals and products, electrical engineering and food.

According to the Customs Committee, the volume of export has decreased since the beginning of the year in the Fergana, Tashkent, Jizzakh and Namangan regions, in the Republic of Karakalpakstan and the city of Tashkent.

The decrease is due to a reduction in exports of yarn, mineral fertilizers and knitwear, metals, food, fruit and vegetable products, plastics and products made from them.

Export growth was noted in Khorezm, Surkhandarya, Syrdarya, Kashkadarya and Navoi regions.

The volume of loans issued by commercial banks increased by 12.5%.

A significant increase in the issuance of loans was noted in Syrdarya (+41.4%), Khorezm (+24.0%), Navoi (+22.7%), Jizzakh (+22.7%) regions, and in Tashkent city (+24.6%).

The volume of transactions on the UzEx decreased by 2.3%. The growth of exchange activity continued in Syrdarya (+22.3%), Andijan (+4.6%), Samarkand (+2.9%) regions, Karakalpakstan (+8.7%) and Tashkent city (+4.7%). Positive stagnation was noted in Namangan and Kashkadarya regions.

This activity is ensured by increasing sales of such goods as cotton fiber, wheat flour, industrial seeds, wheat, non-ferrous metals, construction and household materials, diesel fuel, automobile gasoline, mineral fertilizers, liquefied gas, sugar, rolled ferrous metals and polyethylene, etc.

During the analyzed period, almost 66 thousand new economic entities were created, the largest number of which were registered in the Fergana, Samarkand, Tashkent, Khorezm, Kashkadarya regions, and the Republic of Karakalpakstan. However, the capital remains the leader, so about 13 thousand enterprises have been created in Tashkent.

Sharofiddin Shamsiddinov, CERR

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