Uzbekistan Economic Outlook
July 31, 2018Momentum is expected to have largely carried over into the second quarter on the back of a healthy external sector. Exports jumped in the first half of the year, mostly due to booming external demand for Uzbek oil and gas, as well as services. In turn, industrial output rose notably in the same period, buoyed by mining and quarrying output. Available data, including for healthy retail sales, also points to upbeat domestic demand through June. Fixed investment jumped markedly in the first half of the year, likely helped by the government’s ongoing easing of currency controls and other regulatory hurdles.
Uzbekistan Economic GrowthThis year’s economic expansion should be driven by strong external demand, which is expected to spur upbeat industrial activity. Domestic demand will be hurt by high inflation, but should see some support from stronger fixed investment. FocusEconomics panelists expect GDP growth of 5.6% in 2018, which is up 0.1 percentage points from last month’s forecast, and 5.6% again in 2019.
Uzbekistan Economy Data
5 years of Uzbekistan economic forecasts for more than 30 economic indicators.
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|Exchange Rate||7,790||0.0 %||Aug 15|
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