Business Activity Index recovered in January

Business Activity Index recovered in January

This figure has been on a negative trend since June 2020 due to the coronavirus pandemic. Timely measures taken by the state to mitigate the negative effects of the coronavirus pandemic have ensured macroeconomic stability and non-stop operation of industries in the economy.

There were changes at the component level.

In January 2021, the Business Activity Index increased by 2.5% compared to the same period in the last year and amounted to 1,025 units due to changes in the level of the following components:

  • the intensity of purchases of raw materials at the commodity exchange increased by 11.9%;
  • the number of transactions in bank accounts of business entities decreased by 30.1%;
  • the component of operating business entities increased by 21.8%;
  • brand component increased by 2.1 times.

In terms of regions, Bukhara region has demonstrated the highest growth rate.

In January 2021, the Business Activity Index increased in 9 regions compared to January 2020, while the remaining 5 regions recorded a decrease. Significant growth was observed in Bukhara (41.7%), Kashkadarya (25.6%), Samarkand (24.7%), Fergana (20.6%) regions and Tashkent (32.5%) (Figure 2).

Decrease compared to the same period of last year was observed in Andijan (-14.4%), Surkhandarya (-9.6%), Syrdarya (-7.1%), Tashkent (-6.9%) and Navoi (-6.2%) regions.

ACTIVITY IN THE COMMODITY EXCHANGE

In January 2021, the exchange component of the BAI, compared to January 2020, amounted to 1.1196, which means an increase in this component by 11.9%. The growth of the component is associated with an increase of 73.6% in the average physical volume of goods purchased for each transaction.

At the Republican Commodity and Raw Materials Exchange, the total turnover in January 2020 amounted to 4,103.1 billion soums, which is 41.7% more compared to the same month last year.

ACTIVITY OF BUSINESS ENTITIES

The component of operating economic entities in January 2021 amounted to 1.2180, which means an increase in the component by 21.8% compared to the level of the corresponding month of the last year.

The number of operating economic entities in January 2021 increased by 85,780 units compared to January 2020 (438,356 units) and amounted to 524,136 units.

The number of large enterprises increased by 670 units.

During the reporting period, the number of small businesses increased from 341,890 to 417,244 units (an increase of 75,354 units). The number of farms increased from 94,144 to 103,900 units (an increase of 9,756 units). The number of operating large enterprises amounted to 2,992, which is 670 more than in January 2020.

OPERATIONS WITH BANK ACCOUNTS

The number of interbank payment transactions in January 2021 amounted to 3,647.4 thousand and decreased by 1,569.1 thousand transactions (-30.1%), compared to January 2020. Also, compared to last month, there was a decline of 24.7%

The number of banking operations in all regions has decreased.

In January 2021, in comparison with the same period last year, the number of banking transactions of legal entities decreased in all regions of the Republic. In particular, the most significant decline was observed in Syrdarya (-48.1%), Kashkadarya (-46.2%), Andijan (-43.8%), Khorezm (-39.4%) regions and the Republic of Karakalpakstan (-40.5%).

BRAND REGISTRATION

In January 2021, the index of protected trademarks was 2.1333, which means an increase of 2.1 times compared to the same month last year. Legal entities have registered 224 trademarks and trade names.

Changes in the components of the BAI in the Republic of Uzbekistan and regions by the corresponding month of the last year

Regions

BAI

Operations component by accounts

Exchange component of the index

Component of acting subjects

Component of new brands

Republic of Uzbekistan

1025

↓0.6992

↑1.1196

↑1.2180

↑2.1333

Bukhara region

1417

↓0.6716

2.0000

1.1910

4.0000

Tashkent

1325

↓0.8390

↓0.8036

2.9659

1.9157

Kashkadarya region

1256

↓0.5384

2.0000

1.2161

↓0.0000

Samarkand region

1247

↓0.6452

1.4354

1.3039

5.3333

Ferghana region

1206

↓0.6288

1.2869

1.1878

7.0000

Khorazm region

1154

↓0.6055

1.6374

1.1682

1.0000

Namangan region

1135

↓0.6086

1.4095

1.2194

3.0000

Jizzakh region

1056

↓0.6203

1.3708

1.3222

↓0.0000

Republic of Karakalpakistan

1049

↓0.5954

1.2163

1.2020

3.0000

Navoi region

938

↓0.6097

1.1539

1.1979

↓0.0000

Tashkent region

931

↓0.6321

1.0504

1.1595

1.1667

Sirdarya region

929

↓0.5193

1.0758

1.1695

2.0000

Surkhandarya region

904

↓0.6320

1.0238

1.2429

↓0.0000

Andijan region

856

↓0.5623

↓0.9170

1.1937

1.0000

Changes in the components of the BAI for the Republic of Uzbekistan and regions to the previous month

Regions

BAI

Operations component by accounts

Exchange component of the index

Component of acting subjects

Component of new brands

Republic of Uzbekistan

930

0.7526

0.9630

1.0109

1,9649

Bukhara region

1506

↓0.7606

↓0.9725

1.0043

21.0000

Tashkent

1441

↓0.8555

2.0000

1.0049

4.0000

Kashkadarya region

1352

↓0.7447

2.0000

1.0114

2.2857

Samarkand region

1331

↓0.8025

1.8465

1.0069

3.0000

Ferghana region

1281

↓0.7371

2.0000

1.0117

↓0.0000

Khorazm region

1276

↓0.7240

2.0000

1.0131

↓0.0000

Namangan region

1275

↓0.7162

1.8630

↓0.9961

2.0000

Jizzakh region

1151

↓0.7628

1.0865

1.8029

1.7667

Republic of Karakalpakistan

1139

↓0.7502

1.5566

1.0173

1.0000

Navoi region

1037

↓0.6341

1.3694

1.0108

1.5000

Tashkent region

992

↓0.7180

1.2854

1.0316

↓0.0000

Sirdarya region

987

↓0.7587

1.1355

1.0005

1.5556

Surkhandarya region

972

↓0.7528

1.1362

1.0192

1.0000

Andijan region

813

↓0.7052

↓0.8586

1.0111

↓0.0000

Translated by Mir Akhmadova Musharraf

Lead Research Specialist, CERR


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