The National Statistics Committee of the Republic of Uzbekistan has presented data characterizing the country’s economic situation for January–September 2025. An analysis of key macroeconomic indicators shows that the republic is not only maintaining stability but also demonstrating confident acceleration in several strategically important areas, including foreign trade, construction, and the services sector.
Demographic Growth and the Consumer Market
Demography remains a fundamental factor in the country’s economic potential. As of October 1, 2025, the permanent population of the republic reached 38 069.1 thousand people. For comparison, a year earlier this figure was 37 355.4 thousand. Population growth creates sustainable domestic demand, which is confirmed by the dynamics of retail trade turnover. During the reporting period, the growth rate of retail trade was 111.0%, which is higher than last year’s figure (109.2%).
Along with market expansion, stabilization of inflationary processes is observed. The consumer price index by December of the previous year was 105.1%, which is significantly lower than the corresponding figure for 2024 (106.8%). This indicates the effectiveness of measures taken by the government to ensure price stability.
Real incomes of the population also demonstrate positive dynamics. The real growth rate of total income of the population was 107.7%. Although this is slightly lower than the high base of last year (108.4%), the indicator remains in the zone of confident growth, supporting the purchasing power of citizens.
Accelerated Economic Growth and Industry
The real sector of the economy acts as the locomotive of development. The Gross Domestic Product (GDP) of Uzbekistan for January–September 2025 grew by 7.6% compared to the same period last year. This is a noticeable acceleration in growth rates, as in 2024 this indicator was 6.6%.
Industrial production maintains stable positions. The physical volume index of industrial production was 106.8%. This indicator confirms that the industrial sector continues to develop systematically, providing the economy with necessary products and jobs.
Boom in Construction and Services
The construction sector demonstrates the most impressive dynamics. The growth rate of the volume of construction works reached 114.2%, making a significant leap compared to last year (109.1%). Such high indicators testify to the active implementation of infrastructure projects, housing programs, and the creation of new production capacities throughout the country.
The services sector also shows accelerated development. The volume of market services rendered grew by 114.0%, improving on the previous year’s result (112.8%). This indicates the diversification of the economy and the increasing role of the service economy in the GDP structure.
The transport sector demonstrates stability: passenger turnover remained at a high level with a growth rate of 105.9%, and freight turnover amounted to 101.6%.
Record Foreign Trade Indicators
Uzbekistan’s foreign economic activity is experiencing a period of rapid growth. The growth rate of foreign trade turnover was 122.9%, which significantly exceeds the 2024 figure (108.7%).
Export potential deserves special attention. The volume of exports showed phenomenal growth at the level of 133.3% (against 112.8% a year earlier). This indicates the successful entry of domestic products into new markets and an increase in their competitiveness. Imports also grew to 115.6%, driven by the growing economy’s needs for equipment, technology, and raw materials for modernizing production.
Agriculture and Business Activity
The agricultural sector, traditionally important for the country’s economy, continues to demonstrate resilience. The growth rate of agriculture, forestry, and fisheries was 104.1%, which is higher than the previous year’s indicator (103.1%).
The business environment is characterized by high activity. As of October 1, 2025, the number of operating enterprises and organizations (excluding farms and dehkans) amounted to 460 329 units. Despite market consolidation processes, such a scale indicates a developed entrepreneurial ecosystem.
Conclusion
The results of 9 months of 2025 confirm that Uzbekistan’s economy is on a trajectory of sustainable and qualitative growth. The acceleration of GDP dynamics to 7.6%, record growth in exports and the construction sector, as well as slowing inflation create a solid foundation for further improving the well-being of the population and attracting investment.
Source: National Statistics Committee of the Republic of Uzbekistan