Uzbekistan Economic Outlook
May 7, 2019According to preliminary data, the economy expanded at a robust pace in the first quarter of the year, with annual growth clocking in at 5.3%. The industrial sector continued to fuel the overall expansion, largely thanks to booming manufacturing production, while the services and construction sectors both strengthened in Q1. Moreover, external sector dynamics were upbeat in the quarter: Merchandise exports surged, chiefly on the back of soaring demand for gold and energy, particularly from China, Kazakhstan and Turkey. In the political arena, ongoing economic reforms seem to paying dividends as reflected by foreign investment activity nearly doubling in Q1.
Uzbekistan Economic GrowthGrowth is expected to remain broadly steady this year. Robust investment activity and sturdy household consumption—thanks to ongoing economic reforms and an improving business environment—should support growth. However, a volatile external environment and booming domestic credit growth, which risks spurring inflation, threaten the outlook. Met the why particular panelists expect GDP to grow 5.0% in 2019, which is unchanged 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||8,458||0.0 %||May 13|
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