The GDP of the Republic of Uzbekistan for the first quarter of 2024, at current prices, amounted to 242,701.6 billion soums, which increased by 6.2% compared to January-March 2023 in real terms. The GDP deflator index relative to the prices of January-March 2023 was 113.3%. When calculated in US dollars at the average exchange rate for the reporting period, the nominal GDP amounted to 19,455.6 million US dollars.

In January-March 2024, the positive contribution to GDP growth was made by the sectors of agriculture, forestry, and fisheries – 0.4 percentage points (pp), industry – 1.8 pp, construction – 0.4 pp, and services – 3.4 pp. Due to the growth of net taxes on products, GDP increased by 0.2 pp.

The gross value added created by all sectors of the economy of the Republic of Uzbekistan amounted to 96.7% of the total GDP volume and increased by 6.3% (contribution to GDP growth – 6.0 percentage points). Net taxes on products in the GDP structure amounted to 3.3% and increased by 3.6% compared to January-March 2023 (contribution to GDP growth – 0.2 pp).

In January-March 2024, there were minor changes in the sectoral structure of GDP of the Republic of Uzbekistan. Thus, the share of the service sector in the GDP sectoral structure increased from 53.5% to 54.0%, industry – from 28.2% to 29.2%, while the share of agriculture, forestry, and fisheries decreased from 12.3% to 11.3%, and construction – from 6.0% to 5.5%.

In January-March 2024, the GDP per capita of the Republic of Uzbekistan, at current prices, amounted to 6,580.6 thousand soums (or equivalent to 527.5 US dollars).

In January-March 2024, the real GDP per capita of the Republic of Uzbekistan increased by 4.0% compared to January-March 2023 and by 13.3% compared to January-March 2020.

In January-March 2024, agriculture, forestry, and fisheries of the Republic of Uzbekistan demonstrated positive growth rates at the level of 3.6% (in January-March 2023 – 3.1%, January-March 2022 – 2.7%, January-March 2021 – 3.0%, January-March 2020 – 3.1%).

The positive dynamics in this sector are due to the growth of livestock production by 3.6% (in January-March 2023 – 3.6%, January-March 2022 – 2.4%, January-March 2021 – 2.9%, January-March 2020 – 3.3%).

Along with this, the production of agricultural products for the specified period increased by 4.4% (in January-March 2023 – a decrease of 2.3%, January-March 2022 – an increase of 8.5%, January-March 2021 – an increase of 5.0%, January-March 2020 – an increase of 2.5%).

In January-March 2024, the industrial sector of the Republic of Uzbekistan saw an increase in value added by 6.5%.

The positive dynamics in this sector are mainly due to the growth of value added in mining and quarrying by 4.9%, manufacturing by 7.1%, electricity, gas, steam, and air conditioning supply by 2.9%, and water supply, sewerage, waste management, and remediation activities by 5.8%.

Compared to January-March 2023, construction works in the Republic of Uzbekistan increased by 6.8% in January-March 2024. At the same time, the growth rates of construction of buildings and structures reached 106.8%, civil engineering objects – 111.9%.

In the field of specialized construction works, there was a decrease in volume in comparable prices, which amounted to 98.7% compared to the level of January-March 2023.

In January-March 2024, the volume of construction works in the Republic of Uzbekistan amounted to 31,058.8 billion soums. Of the total volume, large organizations accounted for 23.0%, small enterprises and micro-firms – 57.8%, individuals – 19.2%.

In January-March 2024, the gross value added of the service sector of the Republic of Uzbekistan amounted to 126,764.5 billion soums, which increased by 6.8% compared to January-March 2023. In particular, trade services grew by 10.1%, accommodation and food services by 10.9%, transport and storage by 7.5%, information and communication by 18.6%, other services by 5.1%.

In January-March 2024, in the structure of the gross value added of trade in the Republic of Uzbekistan, the largest share was accounted for by retail trade (excluding trade in motor vehicles), reaching 64.1%. The share of wholesale trade (excluding trade in motor vehicles) was 28.5%, wholesale and retail trade in motor vehicles and their repair – 7.4%.

In January-March 2024, the share of transport and storage in the GDP of the Republic of Uzbekistan amounted to 6.8%.

In the structure of the gross value added of the transport and storage sector of the Republic of Uzbekistan, the largest share was accounted for by road transport – 52.3%. Pipeline transport accounted for 16.3%, railway transport – 10.0%, auxiliary transport activities – 14.0%, and air transport – 7.4% of the total volume of value added in this sector.

In January-March 2024, the share of information and communication in the economy of the Republic of Uzbekistan amounted to 2.4%. In the structure of the value added of this sector, the main share was accounted for by communication services (services of wired and mobile communication, Internet, etc.) and amounted to 52.5%. The remaining 47.5% of the value added created in this sector is attributed to other areas (publishing activities, activities in the field of computer programming, activities in the creation of programs and broadcasting, etc.).

In January-March 2024, the share of information and communication technology (ICT) services in the economy of the Republic of Uzbekistan amounted to 2.2%.

The value added of ICT services consists of communication services – 56.7%, computer programming, consulting, and other related services – 24.9%, data hosting and processing services, web portals – 9.8%, software publishing – 4.7%, and repair of computers and communication equipment – 3.9%.

In January-March 2024, the subjects of small business in the Republic of Uzbekistan created value added amounting to 100,279.7 billion soums, or 42.7% of the total value added in the economy. At the same time, the share of agriculture, forestry, and fisheries in the total value added of small business amounted to 25.3%, industry – 13.0%, construction – 10.3%, and services – 51.4%.

The share of small business in the key sectors of the economy of the Republic of Uzbekistan was: in agriculture, forestry, and fisheries – 96.1%, construction – 79.3%, services – 40.6%, and industry – 19.1%.

Source: Agency of Statistics under the President of the Republic of Uzbekistan