Uzbekistan Economic Outlook
June 4, 2019Growth clocked in at 5.3% in annual terms in Q1 2019, spearheaded by industrial sector output growth which was powered by upbeat manufacturing activity. In addition, the services, agriculture and construction sectors strengthened in the quarter. Turning to Q2, momentum appears to have carried over from Q1. Industrial output expanded sturdily in April, propped up by mining and quarrying, and manufacturing output. Similarly, the construction and services sectors expanded robustly at the beginning of Q2. Booming demand from China and Kazakhstan also propelled the external sector in April. Meanwhile, on 15 May, Uzbekistan declared the mineral-rich region of Navoi—the country’s largest region—a free economic zone, to spur foreign investment.
Uzbekistan Economic GrowthGrowth is expected to remain upbeat this year on the back of solid investment activity and robust household consumption growth, which will continue to benefit from ongoing economic reforms and an improving business climate. Excessive domestic credit growth, banking sector inefficiencies and still-high inflation cloud the outlook, however. Met the why particular panelists expect GDP to grow 5.1% in 2019, which is up 0.1 percentage points from last month’s forecast, and 5.5% in 2020.
Uzbekistan Economy Data
5 years of Uzbekistan economic forecasts for more than 30 economic indicators.
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|Exchange Rate||8,519||0.0 %||Jun 13|
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