Buildings in Uzbekistan

Uzbekistán Economy

Uzbekistan's economy in numbers:

Nominal GDP of USD 81.1 billion in 2022.

GDP per capita of USD 2,300 compared to the global average of USD 10,589.

Average real GDP growth of 5.9% over the last decade.

Share of the region's population
Share of the region's GDP

Economic structure:

In 2021, services accounted for 43% of overall GDP, manufacturing 20%, other industrial activity 12%, and agriculture 25%. Looking at GDP by expenditure, private consumption accounted for 59% of GDP in 2021, government consumption 17%, fixed investment 41%, and net exports -17%.

GDP by economic sector
GDP by type of expenditure

International trade:

In 2021, manufactured products made up 35% of total merchandise exports, mineral fuels 7%, food 9%, ores and metals 14% and agricultural raw materials 3%, with other categories accounting for 32% of the total. In the same period, manufactured products made up 75% of total merchandise imports, mineral fuels 6%, food 13%, ores and metals 4% and agricultural raw materials 2%, with other goods accounting for 0% of the total. Total exports were worth USD 17 billion in 2022, while total imports were USD 28 billion.

Key exports
Key imports
Key export partners
Key import partners

Economic growth:

The economy recorded average annual growth of 5.9% in the decade to 2022. To read more about GDP growth in Uzbekistan, go to our dedicated page.

Fiscal policy:

Uzbekistan's fiscal surplus averaged 0.1% of GDP in the decade to 2022. Find out more on our dedicated page.


The unemployment rate averaged 7.2% in the decade to 2022. For more information on Uzbekistan's unemployment click here.


Inflation averaged 11.9% in the decade to 2022. Go to our Uzbekistan inflation page for extra insight.

Monetary Policy:

Uzbekistan's monetary policy rate ended 2022 at 15.00%, up from 12.00% a decade earlier. See our Uzbekistan monetary policy page for additional details.

Exchange Rate:

From end-2012 to end-2022 the sum weakened by 82.3% vs the U.S. dollar. For more info on the sum, click here.
GDP growth accelerated to 6.0% year on year in January–December versus 5.6% in January–September. Solid expansions in the services and construction sectors spearheaded the upturn. Industrial output also recorded a strong increase last year, chiefly on the back of rising manufacturing production. In contrast, agricultural activity rose at a more modest cumulative pace in 2023 versus 2022. Meanwhile, fixed investment soared by nearly a quarter in 2023, while a strong rise in retail trade pointed to solid private spending growth. In January, Uzbekistan signed an agreement with China, pledging to boost their trade turnover to USD 20 billion in the coming years from last year’s USD 14 billion. Moreover, China offered closer cooperation on various infrastructure projects, including the construction of the China-Kyrgyzstan-Uzbekistan railway which would bypass Russia, boding well for GDP growth ahead.
Projections out to 2033.

38 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 15 expert analysts.

Want to get insight on the economic outlook for Uzbekistan in the coming years? FocusEconomics collects projections out to 2033 on 38 economic indicators for Uzbekistan from a panel of 15 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Uzbekistan economy. To download a sample report on the Uzbekistan's economy, click here . To get in touch with our team for more information, fill in the form at the bottom of this page .

Uzbekistán Datos económicos

2018 2019 2020 2021 2022
Población (millones) 32.7 33.3 33.9 34.6 35.3
PIB (en millones de dólares) 53 60 60 70 80
PIB per cápita (USD) 1,619 1,813 1,775 2,013 2,279
PIB (en millones de euros) 45 54 53 59 76
PIB per cápita (EUR) 1,371 1,621 1,553 1,702 2,163
PIB (UZS tn) 426.6 532.7 605.5 738.4 888.3
Crecimiento económico (PIB nominal, var. anual) 34.4 24.9 13.7 21.9 20.3
Crecimiento económico (PIB, var. anual) 5.4 5.7 1.9 7.4 -
Saldo fiscal (% del PIB) 2.0 -0.3 -3.3 -4.7 -4.0
Deuda pública (% del PIB) 19.7 28.4 37.6 35.8 -
Inflación (IPC, % var. anual, aop) 17.5 14.5 12.9 10.8 11.2
Tasa de refinanciación (%, eop) 16.00 16.00 14.00 14.00 15.00
Tipo de cambio (UZS por USD, eop) 8,339.5 9,516.4 10,476.9 10,837.7 11,225.5
Tipo de cambio (UZS por USD, aop) 8,070.3 8,834.4 10,060.4 10,613.3 11,052.8
Tipo de cambio (UZS por EUR, eop) 9,533.4 10,682.1 12,819.0 12,324.6 11,980.4
Tipo de cambio (UZS por EUR, aop) 9,531.4 9,884.7 11,497.7 12,550.9 11,642.9
Balanza por cuenta corriente (en millones de dólares) -4 -3 -3 -5 -
Balanza por cuenta corriente (% del PIB) -6.8 -5.6 -5.0 -6.9 -
Balanza comercial de mercancías (en millones de USD) -7 -7 -6 -9 -
Exportaciones de mercancías (en millones de dólares) 11 14 13 14 -
Importaciones de mercancías (en millones de dólares) 18 21 19 23 -
Exportaciones de mercancías (% var. anual) 12.0 22.1 -7.7 10.2 -
Importaciones de mercancías (% var. anual) 47.5 16.1 -10.1 21.0 -
Inversión extranjera directa (en millones de dólares) 1 2 2 2 -
Deuda externa (en millones de dólares) 18 22 32 39 -
Deuda externa (% del PIB) 33.3 37.2 53.7 56.0 -

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