Monday, 22, July, 2024

Uzbekistan's GDP grew by 5.5% in Q1 of 2023, the Statistics Agency said. This is significantly higher than projected figure, which was voiced at a government meeting chaired by the president at the end of January.

Then it was noted that against the background of interruptions in the supply of electricity and gas due to the January frost, 3,000 industrial enterprises of the country did not produce goods worth 7 trillion soums, US$ 600 million. He underscored that if the necessary measures were not taken, the growth of gross domestic product in Q1 may decline to 1.5% (from 5% to 3.5%).

Data on industrial production also signaled a slowdown in GDP growth. In January-February, this figure fell by 3.9%, but in March, the Statistics Agency reported a sharp increase in industrial production - by 4.1%.

The situation is similar with the volume of construction work, which in January-February topped 12.9 trillion soums, which is by 8.2% lower than in the same period last year. However, in Q1, the agency reported an increase in construction to 27.56 trillion soums (+14.6 trillion soums), or by 4.5% compared to January-March 2022.

The volume of market services increased by 10.9% (in January March last year - by 15.9%), agriculture and fisheries - by 3.2% (2.8%), retail trade turnover - by 5.2% (10 ,8%).

International trade in three months increased by 11.9%, imports grew by 23.4%, but exports fell by 2.6%.

The Central Bank predicted the GDP growth in 2023 at 4.5-5%.

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