Overview
The service sector plays a crucial role in Uzbekistan’s economy, contributing significantly to GDP and job creation. According to the Statistics Agency under the President of the Republic of Uzbekistan, the volume of services for January 2025 amounted to 64,784.6 billion soums, reflecting a 11.4% increase compared to the same period in 2024.
This growth is attributed to the rising number of enterprises in the service sector, digital transformation, increasing consumer demand, and government support measures, including the implementation of the Presidential Decree No. PD-5113 (May 11, 2021) “On Measures to Accelerate the Development of the Service Sector.”
Growth Dynamics and Contributions by Sector
The main contributors to service sector growth in January 2025 were:
- Financial services – +16.8%
- Trade services – +11.4%
- Transport services – +7.3%
- Communication and information services – +16.9%
Financial Services
Financial services reached 11,864.5 billion soums (+13.2% compared to January 2024). Tashkent remains the financial hub, accounting for 59% of the total financial services. The Andijan region showed the highest growth in financial services (+29%).
Trade
Trade services totaled 10,295.2 billion soums (+10.2%). Retail trade accounted for 52.7% of total trade services, including e-commerce.
Transport Services
Transport services reached 13,162.4 billion soums (+8.7%). Automotive transport accounted for 49.2% of all transport services, with 43.5% attributed to taxi services.
Communication and Information Services
This sector generated 5,312.2 billion soums (+21.6%), with IT and software services making up 41.7% of the total.
Other Key Services
- Education services – +16.0%
- Accommodation and food services – +11.1%
- Healthcare services – +9.2%
- Architecture and engineering services – +23.6%
Small Business in the Service Sector
Small enterprises continue to drive the sector, accounting for 53.7% of total services:
- 32.5% – share of small enterprises and microfirms
- 73.8% – share of newly established small businesses in the service sector
In January 2025, 5,731 new businesses were registered, marking a 25.8% increase from January 2024.
Regional Performance
The highest service sector volumes were recorded in:
- Tashkent city – 24,931.8 billion soums (38.5% of the total)
- Samarkand region – 4,573.2 billion soums (7.1%)
- Fergana region – 4,241.6 billion soums (6.5%)
- Tashkent region – 4,283.7 billion soums (6.6%)
The Syrdarya region recorded the lowest service sector volume at 852.9 billion soums (1.3%).
Future Prospects
Several factors will continue to drive the growth of Uzbekistan’s service sector:
- Government Support – Tax incentives, subsidies, and reduced administrative barriers for service businesses.
- Digitalization – Growth in online services, fintech, and IT-related businesses.
- Rising Consumer Demand – Increasing household income and middle-class expansion.
- Infrastructure Investments – New business centers, tourism projects, and improved logistics.
Conclusion
The service sector remains one of the most dynamic areas of Uzbekistan’s economy. Its steady growth, expansion of financial and digital services, increased small business activity, and government support create a strong foundation for further development. However, key challenges such as business process automation, workforce skill development, and investment in innovation must be addressed to sustain long-term progress.