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Uzbekistan Economy 2017
http://www.theodora.com/wfbcurrent/uzbekistan/uzbekistan_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Uzbekistan Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Uzbekistan is a landlocked country with more than 60% of the population living in densely populated rural communities. Since its independence in September 1991, the government maintained its Soviet-style command economy with subsidies and tight controls on production and prices. Despite ongoing efforts to diversify crops, Uzbekistani agriculture remains largely centered on cotton; Uzbekistan is the world's fifth largest cotton exporter and sixth largest producer. Uzbekistan's growth has been driven primarily by state-led investments, and export of natural gas, gold, and cotton provides a significant share of foreign exchange earnings. In 2015, Russia’s Gazprom announced it would reduce its natural gas imports from Uzbekistan but Tashkent continues to export natural gas to China and Chinese investments in the country have substantially increased.While aware of the need to improve the investment climate, the government continues to intervene in the business sector and has not addressed the impediments to foreign investment in the country. In the past, Uzbekistani authorities have accused US and other foreign companies operating in Uzbekistan of violating Uzbekistani laws and have frozen and seized their assets. At the same time, the Uzbekistani Government has actively courted several major US and international corporations, offering financing and tax advantages.In 2003, the government accepted Article VIII obligations under the IMF, providing for full currency convertibility. However, strict currency controls and tightening of borders have lessened the effects of convertibility and have also led to some shortages that have further stifled economic activity. Recently, lower global commodity prices and economic slowdown in neighboring Russia and China have been hurting Uzbekistan's trade and investment and worsening its problem of currency shortage.

GDP (purchasing power parity):
$202.3 billion (2016 est.) $190.8 billion (2015 est.) $176.7 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 64
[see also: GDP country ranks ]

GDP (official exchange rate):
$66.8 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
6% (2016 est.) 8% (2015 est.) 8.1% (2014 est.)
country comparison to the world: 19
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$6,500 (2016 est.) $6,200 (2015 est.) $5,800 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 160
[see also: GDP - per capita country ranks ]

Gross national saving:
30.9% of GDP (2016 est.) 31% of GDP (2015 est.) 31.6% of GDP (2014 est.)
country comparison to the world: 22
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 55.3%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 17.2%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 24.4%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 3%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 28.6%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -28.5% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 19.3%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 33.9%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 46.8% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
cotton, vegetables, fruits, grain; livestock

Industries:
textiles, food processing, machine building, metallurgy, mining, hydrocarbon extraction, chemicals

Industrial production growth rate:
4.5% (2016 est.)
country comparison to the world: 46
[see also: Industrial production growth rate country ranks ]

Labor force:
17.8 million (2016 est.)
country comparison to the world: 35
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 25.9%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 13.2%
[see also: Labor force - by occupation - industry country ranks ]
services: 60.9% (2012 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
4.9% (2016 est.) 5% (2015 est.)
note: official data; another 20% are underemployed
country comparison to the world: 51
[see also: Unemployment rate country ranks ]

Population below poverty line:
17% (2011 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.8%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 29.6% (2003)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
36.8 (2003) 44.7 (1998)
country comparison to the world: 80
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $21.09 billion
[see also: Budget revenues country ranks ]
expenditures: $21.23 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
31.6% of GDP (2016 est.)
country comparison to the world: 71
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-0.2% of GDP (2016 est.)
country comparison to the world: 33
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
8.3% of GDP (2015 est.) 7.1% of GDP (2014 est.)
country comparison to the world: 177
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
11.5% (2016 est.) 10% (2015 est.)
note: official data; based on independent analysis of consumer prices, inflation reached 22% in 2012
country comparison to the world: 207
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
12.44% (31 December 2013 est.) 11.2% (31 December 2012 est.)
country comparison to the world: 66
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$7.52 billion (31 December 2016 est.) $7.162 billion (31 December 2015 est.)
country comparison to the world: 88
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$18.15 billion (31 December 2016 est.) $16.26 billion (31 December 2015 est.)
country comparison to the world: 93
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$12.09 billion (31 December 2016 est.) $11.78 billion (31 December 2015 est.)
country comparison to the world: 101
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA (31 December 2012) $715.3 million (31 December 2006)
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$64 million (2016 est.) $93 million (2015 est.)
country comparison to the world: 48
[see also: Current account balance country ranks ]

Exports:
$11.11 billion (2016 est.) $11.35 billion (2015 est.)
country comparison to the world: 84
[see also: Exports country ranks ]

Exports - commodities:
energy products, cotton, gold, mineral fertilizers, ferrous and nonferrous metals, textiles, foodstuffs, machinery, automobiles

Exports - partners:
Switzerland 25.8%, China 17.6%, Kazakhstan 14.2%, Turkey 9.9%, Russia 8.4%, Bangladesh 6.9% (2015)

Imports:
$11.61 billion (2016 est.) $11.81 billion (2015 est.)
country comparison to the world: 92
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment, foodstuffs, chemicals, ferrous and nonferrous metals

Imports - partners:
China 20.8%, Russia 20.8%, South Korea 12%, Kazakhstan 10.8%, Turkey 4.6%, Germany 4.4% (2015)

Reserves of foreign exchange and gold:
$14.5 billion (31 December 2016 est.) $15 billion (31 December 2015 est.)
country comparison to the world: 67
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$15.75 billion (31 December 2016 est.) $13.92 billion (31 December 2015 est.)
country comparison to the world: 99
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$NA
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$NA
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Uzbekistani soum (UZS) per US dollar - 2,963.7 (2016 est.) 2,569.6 (2015 est.) 2,569.6 (2014 est.) 2,311.4 (2013 est.) 1,890.1 (2012 est.)


NOTE: The information regarding Uzbekistan on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Uzbekistan Economy 2017 information contained here. All suggestions for corrections of any errors about Uzbekistan Economy 2017 should be addressed to the CIA.




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