According to the National Statistics Committee, the Republic of Uzbekistan maintained stable economic momentum during the first quarter of 2025, demonstrating resilience amid global economic challenges. This article examines the key economic indicators and trends observed during this period.

Population and Overall Economic Growth

As of April 1, 2025, Uzbekistan’s resident population reached 37,697,800 people, showing an increase of 734,500 compared to the same period in 2024 (36,963,300). This demographic growth contributes to the country’s economic development and expanding domestic market.

The country’s Gross Domestic Product (GDP) grew by 6.4% in January-March 2025, slightly lower than the 6.8% growth recorded during the same period of 2024. The price index compared to December of the previous year was 102.1%, which is 0.4 percentage points higher than in 2024 (101.7%).

Industrial Production and Construction

The index of physical volume of industrial production maintained a stable growth rate of 6.5% in both 2024 and 2025, indicating consistent development across the industrial sector.

Particularly impressive progress was observed in the construction sector, where the volume of construction works increased to 110.8% in 2025 compared to 106.8% in the first quarter of 2024. This significant improvement reflects enhanced investment activity and successful implementation of infrastructure projects throughout the country.

Services and Retail Trade

The volume of rendered services continues to demonstrate high growth rates at 112.6% in 2025, although this indicator showed a slight decrease compared to 2024 (114.2%). Retail trade turnover also maintains stable development at 109.3% in 2025 versus 109.5% in the previous year.

Foreign Trade Activity

Uzbekistan’s foreign trade shows varied dynamics. Exports demonstrated remarkable growth of 24.4% in 2025 compared to 12.3% in 2024, indicating strengthening positions of Uzbek products in international markets. Meanwhile, imports decreased to 97.7% from 103.6% in the previous year, which may suggest successful implementation of import substitution policies and increased self-sufficiency in various sectors.

Transportation Sector

Significant improvements are evident in the transportation industry. Freight turnover increased by 6.2% in 2025 compared to 2.0% in 2024. Passenger turnover also showed positive dynamics with a 5.0% growth compared to 4.3% in the previous year. These figures reflect ongoing modernization of transport infrastructure and expansion of logistical capabilities across the country.

Agriculture

The agricultural complex shows modest but stable growth, with agriculture, forestry, and fisheries growing by 3.8% in 2025 compared to 3.6% in 2024. This sector remains fundamental to Uzbekistan’s economy, providing food security and supporting rural livelihoods.

Business Activity

The total number of registered enterprises and organizations (excluding farms and dehkan households) reached 736,844 units as of April 1, 2025, which is 40,967 more than a year earlier (695,877). However, the number of operating enterprises decreased to 442,402 units compared to 469,113 in 2024. This may indicate business consolidation processes, market restructuring, or the exit of inefficient companies.

Conclusion

Uzbekistan’s economy demonstrated robust development across most key indicators during the first quarter of 2025. Particularly impressive results were achieved in export activities, the construction sector, and transportation. Stable growth continues in industrial production, services, and agriculture.

The decrease in operating enterprises alongside an increase in total registered organizations may reflect structural changes in the economy and natural business consolidation processes as the market matures.

Overall, the economic indicators from the first quarter of 2025 provide a favorable foundation for the continued sustainable development of the Republic of Uzbekistan and improvements in the welfare of its citizens. The country’s balanced growth across multiple sectors suggests effective economic policies and successful adaptation to changing global economic conditions.