Uzbekistan Economic Forecast

Uzbekistan Economic Outlook

July 31, 2018

Momentum 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 Growth

This 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

20132014201520162017
Population (million)30.230.831.331.832.1
GDP per capita (USD)1,9202,0632,1302,1061,514
GDP per capita (EUR)1,4771,5071,9201,9041,322
GDP (USD bn)58.163.566.767.148.6
GDP (EUR bn)44.746.360.160.642.5
Economic Growth (GDP, annual variation in %)8.08.07.97.85.3
Consumption (annual variation in %)9.710.911.67.0-  
Investment (annual variation in %)5.27.40.816.47.1
Fiscal Balance (% of GDP)0.30.20.10.10.1
Public Debt (% of GDP)7.58.89.711.2-  
Inflation Rate (CPI, annual variation in %)11.79.18.58.012.5
Policy Interest Rate (%)12.0010.009.009.0014.00
Exchange Rate (vs USD)2,2022,4222,8103,2188,120
Exchange Rate (vs USD, aop)2,0922,3082,5702,9655,123
Exchange Rate (vs EUR)3,0342,9313,0523,3949,751
Exchange Rate (vs EUR, aop)2,7803,0642,8523,2795,869
Current Account (% of GDP)2.81.7-0.51.42.9
Current Account Balance (USD bn)1.61.1-0.40.91.4
Trade Balance (USD billion)-5.4-6.9-4.3-2.4-  
Exports (USD billion)7.96.96.57.7-  
Imports (USD billion)13.313.810.810.1-  
Exports (annual variation in %)35.1-13.1-4.818.5-  
Imports (annual variation in %)16.73.8-21.5-6.6-  
External Debt (% of GDP)18.421.022.324.3-  

Sample Report

5 years of Uzbekistan economic forecasts for more than 30 economic indicators.

Download

Sample Report

Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.

Download

Uzbekistan Facts

ValueChangeDate
Exchange Rate7,7900.0 %Aug 15

Start Your Free Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Search form