Uzbekistan’s Q1 2025 GDP data reflect stable 6.8% sectoral growth, driven by industry, construction, and ICT, with a 32.0% unobserved economy share, signaling steady progress amid global challenges.

Uzbekistan’s economy has begun 2025 with consistent performance, as outlined in the National Committee of the Republic of Uzbekistan on Statistics press release dated April 29, 2025. The Gross Domestic Product (GDP) data for January–March 2025 highlight steady contributions across key sectors, reinforcing the country’s commitment to sustainable development. 

A Balanced Economic Performance: GDP and Sectoral Contributions

The economy maintained stable growth, with value-added contributions from all sectors reaching 95.9% of GDP and growing by 6.8%, adding 6.6 percentage points to GDP growth. Net taxes on products, comprising 4.1% of GDP, rose by 7.2%, contributing an additional 0.2 percentage points.

The sectoral structure saw minor shifts: services increased from 55.9% in Q1 2024 to 56.1%, and industry ticked up from 27.8% to 27.9%. Agriculture, forestry, and fisheries slightly declined from 9.7% to 9.5%, and construction from 6.6% to 6.5%. These adjustments reflect Uzbekistan’s ability to sustain a diversified economy despite external pressures.

Price Stability: Navigating Inflation

The GDP deflator index, relative to Q1 2024, stood at 112.8%, indicating manageable price increases. Sectors like transportation, storage, and information and communication (114.2%), industry (112.1%), and agriculture, forestry, and fisheries (111.9%) exceeded the national average, showing steady demand. Other services matched closely at 111.9%. Construction (105.6%) and trade, accommodation, and catering (108.6%) recorded lower deflator indices, highlighting efficiency in these areas. This balance underscores Uzbekistan’s prudent economic management.

Industry: A Steady Pillar

Industry contributed 89,119.9 billion UZS in gross value added, up 6.5% from Q1 2024. Manufacturing grew by 8.7%, and water supply, sewerage, and waste management by 2.7%. Mining and quarrying dipped slightly to 98.5%, while energy supply remained stable. These results align with Uzbekistan’s efforts to bolster industrial capacity, though they are consistent with trends from prior years rather than record-breaking.

Construction: Advancing Infrastructure

Construction recorded a gross value added of 20,865.3 billion UZS, up 10.7% from Q1 2024. Growth was driven by buildings and structures (108.3%), civil engineering projects (117.5%), and specialized construction (117.3%). This performance supports Uzbekistan’s infrastructure development goals, contributing to economic stability.

ICT Sector: Building Digital Capacity

The information and communication technology (ICT) sector accounted for 3.2% of GDP, with value added from computer programming and consultancy (45.7%), telecommunications (35.4%), data processing and web portals (10.0%), software publishing (5.8%), and equipment repair (3.1%). The sector’s growth reflects Uzbekistan’s focus on digitalization, a critical area for future economic expansion.

Unobserved Economy: Capturing Informal Activity

The unobserved economy, including household and informal activities, contributed 106,817.6 billion UZS, or 32.0% of GDP. Household and individual activities accounted for 78,795.3 billion UZS (23.6%), and the shadow economy added 28,022.4 billion UZS (8.4%). These activities were significant in agriculture (84.1%), construction (41.5%), services (36.2%), and industry (8.5%). Uzbekistan’s efforts to quantify these contributions enhance the accuracy of its economic reporting.

Methodological Transparency: Reliable Insights

Using the production method and OKED 2 classification, the National Committee ensures robust GDP calculations, covering all resident economic units. Deflator and physical volume indices provide clear insights into price and output trends, supporting informed policy and business decisions.

Contextual Perspective: Steady but Not Stellar

Uzbekistan’s 6.8% sectoral growth in Q1 2025 is solid but falls short of some higher historical benchmarks and may lag behind certain regional peers. Nonetheless, progress in construction, ICT, and industrial output, alongside efforts to measure the unobserved economy, demonstrates resilience. Uzbekistan’s focus on infrastructure and digitalization lays a foundation for sustained growth.

Conclusion: A Path of Steady Progress

Uzbekistan’s Q1 2025 economic performance reflects stable growth and strategic focus on key sectors. While not its strongest period historically, the country’s consistent advancements in industry, construction, and ICT, coupled with transparent reporting, position it well for future development. Uzbekistan’s balanced approach ensures it remains on a path of steady progress, ready to capitalize on emerging opportunities.

Source: National Committee of the Republic of Uzbekistan on Statistics