Uzbekistan’s economy continued to show strong performance in 2025, with gross domestic product surpassing $145 billion for the first time, President Shavkat Mirziyoyev announced in his address to the Oliy Majlis.
The president noted that exports increased by 23 percent last year, reaching $33.4 billion, The Caspian Post reports, citing Uzbek media.
He also highlighted that Uzbekistan’s gold and foreign exchange reserves exceeded $60 billion for the first time in the country’s history.
Mirziyoyev noted that less than ten years ago, achieving a GDP of $100 billion was seen as an ambitious goal. The current economic indicators, he said, reflect Uzbekistan’s growing ability to carry out large-scale economic transformation and support its long-term objective of reaching a GDP of $240 billion by 2030.
Mirziyoyev stressed that Uzbekistan’s economy continues to grow confidently despite global challenges, including shifting rules in international trade, disruptions to production and transport-logistics chains, and rising prices for raw materials and financial resources.
Foreign investment inflows reached $43.1 billion in 2025, with total investment accounting for 31.9 percent of GDP. The president said these indicators provide a strong foundation for maintaining high and sustainable growth rates in the coming years.
Uzbekistan’s standing in international rankings has also improved. Leading rating agencies upgraded the country’s sovereign credit rating from BB- to BB, a move that, according to Mirziyoyev, will improve external financing conditions and reduce the cost of servicing foreign debt.
Progress in digital transformation was highlighted as well. Uzbekistan climbed 71 places in the World Bank’s GovTech Maturity Index, entering the global top 10. Infrastructure development also advanced in 2025, with electricity generation reaching 85 billion kWh amid reforms in the energy sector, expanded access to drinking and irrigation water across many neighborhoods, and continued growth in multi-story housing construction alongside additional building activity by households and businesses.
Looking ahead, the president said Uzbekistan is poised to significantly exceed its medium-term economic targets. Under the “Uzbekistan - 2030” strategy adopted two years ago, the goal was to raise GDP to $160 billion by 2030. However, Mirziyoyev said this level will be reached as early as 2026.
“Based on our existing potential, ongoing reforms, the activity of our entrepreneurs, and expanding cooperation with foreign partners, we will reach this milestone without difficulty,” he said.
Over the next five years, Uzbekistan’s GDP could exceed $240 billion, the president added, noting that the forecast is based on detailed calculations and has been confirmed by the International Monetary Fund and other authoritative experts.
