Economy - overview:
Uzbekistan is a doubly landlocked country in which 51% of the population lives in urban settlements; the agriculture-rich Fergana Valley, in which Uzbekistan’s eastern borders are situated, has been counted among the most densely populated parts of Central Asia. Since its independence in September 1991, the government has largely maintained its Soviet-style command economy with subsidies and tight controls on production, prices, and access to foreign currency. Despite ongoing efforts to diversify crops, Uzbek agriculture remains largely centered on cotton; Uzbekistan is the world's fifth-largest cotton exporter and seventh-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.

Recently, lower global commodity prices and economic slowdowns in neighboring Russia and China have hurt Uzbekistan's trade and investment and worsened its foreign currency shortage. Aware of the need to improve the investment climate, the government is taking incremental steps to reform the business sector and address impediments to foreign investment in the country. Since the death of first President Islam KARIMOV and election of President Shavkat MIRZIYOYEV, emphasis on such initiatives and government efforts to improve the private sector have increased. In the past, Uzbek authorities accused US and other foreign companies operating in Uzbekistan of violating Uzbek laws and have frozen and seized their assets.

As a part of its economic reform efforts, the Uzbek Government is looking to expand opportunities for small and medium enterprises and prioritizes increasing foreign direct investment. In September 2017, the government devalued the official currency rate by almost 50% and announced the loosening of currency restrictions to eliminate the currency black market, increase access to hard currency, and boost investment.

GDP (purchasing power parity):
$223 billion (2017 est.)
$211.8 billion (2016 est.)
$196.5 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 63
[see also: GDP country ranks ]

GDP (official exchange rate):
$48.83 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
5.3% (2017 est.)
7.8% (2016 est.)
7.9% (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 44
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$6,900 (2017 est.)
$6,700 (2016 est.)
$6,300 (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 158
[see also: GDP - per capita country ranks ]

Gross national saving:
32.7% of GDP (2017 est.)
25.4% of GDP (2016 est.)
27.6% of GDP (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 24
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 59.5% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 16.3% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 25.3% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 3% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 19% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -20% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 17.9% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 33.7% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 48.5% (2017 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% (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 67
[see also: Industrial production growth rate country ranks ]

Labor force:
18.12 million (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 32
[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:
5% (2017 est.)
5.1% (2016 est.)
note: official data; another 20% are underemployed
country comparison to the world (CIA rank, may be based on non-current data): 75
[see also: Unemployment rate country ranks ]

Population below poverty line:
14% (2016 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 (CIA rank, may be based on non-current data): 85
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 15.22 billion (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 15.08 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
31.2% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 74
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
0.3% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 42
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
24.3% of GDP (2017 est.)
10.5% of GDP (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 178
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
12.5% (2017 est.)
8% (2016 est.)
note: official data; based on independent analysis of consumer prices, inflation reached 22% in 2012
country comparison to the world (CIA rank, may be based on non-current data): 208
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
9% (2016)
9% (2015)
country comparison to the world (CIA rank, may be based on non-current data): 36
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
16% (31 December 2016 est.)
11.2% (31 December 2012 est.)
country comparison to the world (CIA rank, may be based on non-current data): 31
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$4.173 billion (31 December 2017 est.)
$7.729 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 110
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$4.173 billion (31 December 2017 est.)
$7.729 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 115
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$5.558 billion (31 December 2017 est.)
$11.63 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 128
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA (31 December 2012)
$715.3 million (31 December 2006)
country comparison to the world (CIA rank, may be based on non-current data): 108
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$1.713 billion (2017 est.)
$384 million (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 43
[see also: Current account balance country ranks ]

Exports:
$11.48 billion (2017 est.)
$11.2 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 84
[see also: Exports country ranks ]

Exports - partners:
Switzerland 38.7%, China 15.5%, Russia 10.7%, Turkey 8.6%, Kazakhstan 7.7%, Afghanistan 4.7% (2017)

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

Imports:
$11.42 billion (2017 est.)
$10.92 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 93
[see also: Imports country ranks ]

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

Imports - partners:
China 23.7%, Russia 22.5%, Kazakhstan 10.7%, South Korea 9.8%, Turkey 5.8%, Germany 5.6% (2017)

Reserves of foreign exchange and gold:
$16 billion (31 December 2017 est.)
$14 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 65
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$16.9 billion (31 December 2017 est.)
$16.76 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 101
[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 -
3,906.1 (2017 est.)
2,966.6 (2016 est.)
2,966.6 (2015 est.)
2,569.6 (2014 est.)
2,311.4 (2013 est.)