Uzbekistan's GDP Increases by 6.5% in 2024

Uzbek President Shavkat Mirziyoyev announced on Thursday that Uzbekistan's GDP grew by 6.5% in 2024, compared to 6% in 2023, The Caspian Post reports citing Interfax.

"GDP increased 6.5% to $115 billion in 2024," Mirziyoyev said during a video conference, with presidential press secretary Sherzod Asadov posting the details on the president's Telegram channel.

The volume of foreign investment in the country's economy rose 1.6-fold to $34.9 billion last year, with 242 large- and medium-sized projects totaling $10 billion being launched.

As noted, the investment plan for the textile industry was under-fulfilled by $17 million and investments in Uztransgaz and Uzmetkombinat were halved despite the availability of sufficient conditions.

"Exports reached $27 billion for the first time," according to the report.

Meantime, 589 enterprises operating in 22 free economic zones shipped only 18% of their products to foreign markets, and 372 enterprises did not export at all. "Only 16% of manufactured goods are high-tech," as noted at the meeting.

Uzbekistan's GDP totaled $90.8 billion in 2023.