Brief Overview: In the first half of 2025, the economy of Uzbekistan demonstrated confident growth, according to official data from Uzstat. Key indicators such as Gross Domestic Product (GDP), retail trade turnover, and construction showed positive dynamics compared to the same period last year. An increase in population and the real aggregate income of citizens was also observed.

Main Macroeconomic Indicators

In January-June 2025, the following key changes were recorded in the country’s economy:

• Gross Domestic Product (GDP): The GDP growth rate was 107.2% compared to the corresponding period in 2024, when this indicator was at 106.6%.

• Consumer Price Index (CPI): The CPI, reflecting the inflation rate, stood at 105.2% compared to December of the previous year. In 2024, this indicator was 104.2%.

• Permanent Population: As of July 1, 2025, the population of the Republic of Uzbekistan reached 37,859.7 thousand people. This is an increase from the figure of 37,134.2 thousand people on July 1, 2024.

Dynamics by Economic Sector

Industry and Construction:

• Industrial Production: The physical volume index of industrial production in the first half of 2025 showed a growth of 6.6% (106.6).

• Construction Works: The construction sector demonstrated significant growth, with the volume of completed work increasing by 10.7% (110.7).

Trade, Transport, and Services:

• Retail Trade Turnover: The growth rate of retail trade turnover accelerated to 109.7%.

• Market Services: The volume of rendered market services grew by 12.9% (112.9).

• Transport Sector: There was growth in both passenger and freight turnover:

  • Passenger turnover increased by 6.0% (106.0).

  • Freight turnover showed a growth of 1.8% (101.8).

Agriculture, Forestry, and Fishing:

• The growth rate in this sector was 103.8% compared to the same period last year.

Foreign Trade Turnover

Uzbekistan’s foreign trade turnover for January-June 2025 showed an increase of 8.7% (108.7).

• Exports: Export growth was 6.2% (106.2).

• Imports: Import growth was 7.0% (107.0).

Entrepreneurship and Population Income

• Enterprises and Organizations: The number of registered enterprises and organizations (excluding farms and dekhkan farms) as of July 1, 2025, reached 750,357 units. The number of operating enterprises was 462,957.

• Population Income: The real growth rate of the total income of the population showed a significant increase, amounting to 111.9% (a growth of 11.9%) compared to the same period last year.

Source: National Statistics Committee of the Republic of Uzbekistan