In 2024, Uzbekistan’s economy continued its steady growth, positively impacting the total income levels of its population. According to preliminary data from the Statistics Agency under the President of the Republic of Uzbekistan, the total income of the population for January-December 2024 amounted to 896.3 trillion UZS, an 18.5% increase compared to the previous year. Moreover, real growth, adjusted for inflation, reached 8.1%, underscoring the country’s resilient economic development.

Per Capita Income Growth: Impressive Results

The average per capita nominal total income was 24.1 million UZS, showing a 16.1% increase compared to 2023. In real terms, the growth rate was 5.9%, a significant achievement amid global economic uncertainties.

Traditionally, Tashkent city recorded the highest figures, with per capita income reaching 60.6 million UZS, nearly 2.5 times the national average. Other leading regions included Navoi region (38.1 million UZS), Bukhara region (27.5 million UZS), and Tashkent region (25.1 million UZS).

Key Income Sources: Contribution of Employment and Entrepreneurship

Labor income remains the primary contributor to total income, accounting for 62.9% of the total. This includes:

• 27.9% from wages of hired workers;
• 35% from self-employment income.

Income from self-employment grew by 15.9% in 2024, contributing 5.7% to the overall nominal income growth. This highlights the increasing activity in the small business sector, which generates more than half (58.7%) of the population’s income.

The highest share of income from entrepreneurship was observed in the Jizzakh region (67.5%), Bukhara region (47.4%), and Kashkadarya region (44.8%).

The Role of Transfers and Property Income

Transfers remain an essential part of total income, accounting for 26% in 2024. Of these:

• 36.6% came from social transfers (pensions, benefits, scholarships);
• 63.4% from other current transfers, including remittances from abroad, which accounted for 16.5% of total income.

Property income, including earnings from financial and non-financial assets, grew by 49.6%, reaching 30.1 trillion UZS, which is 3.3% of total income. Notably, almost two-thirds of this income was concentrated in Tashkent city (63.5%), emphasizing its role as the country’s financial hub.

Regional Distribution: Leaders and Opportunities

The highest real per capita income growth rates were recorded in Tashkent city (15.4%), Navoi region (7.9%), and Tashkent region (6.4%), confirming the stable development of major cities and industrial regions.

Meanwhile, certain regions, including Namangan, Surkhandarya, and the Republic of Karakalpakstan, saw growth rates below 1%, indicating opportunities for further economic stimulation in these areas.

Conclusion

The year 2024 demonstrated consistent growth in the income levels of Uzbekistan’s population, reflecting the effectiveness of ongoing economic reforms and the support of key economic sectors. The steady increase in income, especially in small business and self-employment sectors, lays a solid foundation for improving citizens’ living standards.

Future efforts will focus on increasing real incomes in underdeveloped regions and encouraging economic activity. However, it is already evident that Uzbekistan’s economy is on a stable growth trajectory, creating a strong basis for national prosperity.