Wednesday, 01, February, 2023

Economy

Uzbekistan economy grew by 5.7%, and GDP per capita reached $2,255 (+3.5%) in 2022. In 2022, the Uzbek GDP topped 888.34 trillion soums, US$ 80.38 billion at the exchange rate at that time, the Statistical Agency said in a report.

The volume of money remittances to Uzbekistan increased by 2.1 times in 2022 - to a record $16.9 billion, the governor of Central Bank Mamarizo Nurmuratov said at a press conference on Thursday.

In 2023, the Uzbek economy is projected to grow at an estimated 4.5-5%. According to the baseline scenario, the expected 2023 inflation rate will be 8.5-9.5%. This is stated in a press release of the Central Bank following the BOD meeting.

Uzbek Ambassador to Ukraine Alisher Kurmanov met with Deputy Chairman of the Ukrainian Authority for Food Safety and Consumer Protection Olga Shevchenko.

Uzbekistan’s international trade in 2022 reached $50.01 billion, a $7.84 billion increase, or 18.6%, compared to the previous year, the Statistics Agency said in a report.

The government of Uzbekistan plans to increase the gas production by at least 9% to 56.3 billion cubic meters (BCM) in 2023. While, the gas production has declined in recent years.

In 2022, Uzbekistan industrial enterprises paid a toal of 39 trillion soums, US$ 3.5 billion in taxes, the Tax Committee said in a report.

In Uzbekistan in 2022, overall prices for food items increased - 15.6% and non-food items - 10.7%. Prices of services grew moderately, at 8.4%. Investments in fixed capital during the year decreased by 0.5%.

Uzbekistan exported $1.07 billion worth of gas to China in 2022, the Chinese customs authorities said in a report. Exports in value terms increased by 33.9% compared to 2021 ($799 million).

In 11 months of 2022, Uzbekistan exported 2.9 billion USD worth of textiles, an increase by $250.5 million to 2021. The top ten countries to which Uzbekistan exported textile products in 11 months of 2022:

Recent developments: As a result of the Russian Federation's invasion of Ukraine, growth in Europe and Central Asia (ECA) is estimated to have slowed sharply in 2022, to 0.2 percent. This reflects contraction in Russia and a deep recession in Ukraine. Excluding these two countries, growth in ECA nearly halved in 2022, to an estimated 4.2 percent, with broad-based deceleration across the region.

Uzbekistan’s gold and currency reserves stood at US$ 35.8 billion as of January 1, 2023, recording an increase by US$ 628 million compared to the same period last year, the Central Bank said in a report.

The process equipment of the future complex for increasing the production capacity of Shurtan gas chemical complex in Guzar district of Kashkadarya province worth $1.8 billion can be moved to Karakul district of Bukhara province for integration with Saneg’s plant. This is provided for by a draft behind-closed-doors resolution of the President of Uzbekistan.

During the visit of the of the Uzbekistan government delegation to Islamabad, the Deputy PM Jamshid Khojaev held talks with the Prime Minister of Pakistan Shahbaz Sharif.

As part of the visit of the Uzbek government delegation to Azerbaijan, the Prime Minister Jamshid Khojaev held talks with the Minister of Economy of Azerbaijan Mikail Jabbarov.

Inflation in the consumer sector of Uzbekistan in 2022 toззув 12.25%, the State Committee on Statistics said in a report last Friday.

President Shavkat Mirziyoyev delivered a New Year's wishes to the people of Uzbekistan, which was broadcast on television.

Regular meeting of the interdepartmental commission in charge of the collaboration with the World Trade Organization (WTO) took place under the chairmanship of the Deputy PM/Minister of Investments and Foreign Trade, Jamshid Khodjaev.

On December 29, Minister of Investment and Foreign Trade of Uzbekistan Jamshid Khodjaev and Minister of Trade and Integration of Kazakhstan Serik Zhumangarin signed the road map for the implementation of investment agreements and trade contracts signed during the visit of the President of Kazakhstan to Uzbekistan.

According to the State Statistics Committee, as of December 1, the number of newly set up foreign-invested enterprises in Uzbekistan topped 2,577 in 2022.