Sunday, 26, March, 2023

Experts from the Institute for Forecasting and Macroeconomic Research (IFMR) studied the most important outcomes of the reforms implemented in Uzbekistan’s industry in recent years.

According to them, from 2017 to 2022, the share of industry in GDP increased from 21.1% to 26.7%. This was facilitated by the steady growth of industrial production, which grew be 41.3% over the period.

The manufacturing sector of industry grew at a faster pace, by 47.4% over the period. In addition, the electricity, heat and gas supply sector developed at fast pace – by 39.2%, as well as the mining sector – by 30.4%.

“The core of Uzbekistan’s industry is the manufacturing sector, which accounts for 83.2% in the industry. This is a positive outcome of the industrialization programs aimed at expanding the production of high added value items, increasing the degree of processing of raw materials, and introducing modern technologies,” the report says.

An increase in the share of medium-tech industries from 52.7% to 61.7% also testifies to qualitative leap in the structure of industry.

“This indicates an increase in the scale of production of high value-added goods that are in demand both in the domestic and foreign markets,” experts say.

In particular, the production of Portland cement increased over this period by 1.3 times, lead batteries - by 1.4 times, automobile engines - by 2.5 times, passenger cars - by 2.3 times, refrigerators and freezers - by 3.7 times. times.

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