Uzbekistan’s Foreign Trade Turnover Grows by 16.1%

Uzbekistan's economy maintained strong growth in the first half of the year.

According to the National Statistics Committee, the gross domestic product (GDP) amounted to 807.9 trillion UZS, representing a 7.2% increase compared to the same period last year, The Caspian Post reports citing UzA.

The consumer price index reached 104.2% of the December 2024 level, indicating a slowdown in the rate of price growth. Prices for food and non-food products rose at a moderate pace. However, services remain the primary driver of inflation and have the most significant impact on the overall consumer price level.

The volume of investments in fixed capital increased by 5.5%, reaching 273.4 trillion UZS. Investment activity remains stable. In the structure of investment sources, non-centralized funds dominate, including resources from enterprises, the population, and direct foreign investments.

Industrial production grew by 6.6%, reaching 488.5 trillion UZS, while construction work increased by 10.7%, totaling 137.6 trillion UZS. The agriculture, forestry, and fisheries sector saw a 4% increase, amounting to 194.9 trillion UZS. The volume of services rendered increased by 13.3%, reaching 458.2 trillion UZS, while retail trade turnover rose by 9.7%, totaling 198.7 trillion UZS.

The rapid growth in the services and trade sectors is attributed to rising household incomes, ongoing digitalization, and the increasing shift toward online payments and digital services, which make the services sector even more dynamic.

Foreign trade turnover reached $37 billion, representing a 16.1% increase. Exports totaled $16.9 billion (+29.1%), while imports increased by 7%, reaching $20.1 billion. The acceleration in exports is linked to increased deliveries of services, raw materials, and energy resources.

As noted in the review by the Center for Economic Research and Reforms, the economy is demonstrating a confident recovery and structural stability. Active investment and foreign trade policies, support for the real sector, and reduced inflationary pressure are contributing to a positive macroeconomic outlook.