Uzbekistan Economic Outlook
April 2, 2019Growth momentum appears to have carried over into 2019, on the heels of last year’s robust expansion. Buoyant investment activity spearheaded growth in 2018, following a successful foreign exchange liberalization and reform to the tax system, which propelled rapid credit growth. Turning to the first quarter of this year, industrial output continued to increase at a healthy pace in January-February, chiefly driven by higher manufacturing production. On the external front, metrics were also upbeat: Merchandise exports surged in double digits in the same period, amid booming demand from Uzbekistan’s key trading partners—China, Russia and Kazakhstan. Meanwhile, on 1 March, authorities lifted a ban on repatriating profits from equity sales, which should boost local capital markets.
Uzbekistan Economic GrowthGrowth is expected to remain sturdy this year, largely on the back of strong investment activity growth and healthy private consumption amid ongoing reforms and improving business conditions. Global trade-related uncertainties and excessive domestic credit growth that might spur inflation present major risks to the outlook, however. Our panelists expect GDP to grow 5.0% in 2019, unchanged from last month’s forecast, and 5.6% in 2020.
Uzbekistan Economy Data
5 years of Uzbekistan economic forecasts for more than 30 economic indicators.
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|Exchange Rate||8,451||0.0 %||Apr 12|
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