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Uzbekistan’s GDP increases by 5.8% in January – June 2019

July 27
07:55 2019

According to preliminary estimates, the gross domestic product (GDP) of the Republic of Uzbekistan in current prices made up 222.02 trillion soums in January-June 2019 and, compared with January-June 2018, increased in real terms by 5.8%. According to the State Statistics Committee, the GDP deflator index in relation to prices in January-June 2018 was 119.6%. GDP per capita reached 6.64 million soums and, compared with the corresponding period of last year, increased by 3.9%. Compared with the corresponding period of last year, in the sectoral structure of GDP, the share of agriculture, forestry and fishery decreased from 27.3% to 24.3%, while the share of industry increased from 27.1% to 30.3%, construction – from 7,3% to 7.6%. The share of the service sector in the sectoral structure of GDP was 37.8% and, as compared with the same period of last year, decreased by 0.5 percentage points

The economic growth rate is due to the positive dynamics in the main sectors of the economy. The gross value added created by all sectors of the economy reached 90.0% of total GDP and increased by 5.8% (contribution to GDP growth – 5.1 percentage points). Net taxes on products amounted to 10.0% in the structure of GDP and showed an increase of 5.9% (contribution to GDP growth – 0.7 percentage points).

According to the results of January – June 2019, positive growth rates of 2.1% are observed in agriculture, forestry and fisheries. The contribution of this industry to GDP growth was 0.5 percentage points. Positive dynamics in agriculture, forestry and fisheries was ensured mainly due to the growth of crop production by 3.2% and livestock production by 1.7%. In industry, there is a 6.9% increase in value added. At the same time, a positive contribution to GDP growth from industrial production is estimated at 1.6 percentage points.

Positive dynamics in the industry ensured by growth in value added in mining and quarrying by 4.7%, manufacturing – by 7.8% and other industries – by 4.0%. According to the results of January-June 2019, the largest share in the structure of gross value added of the manufacturing industry is in the metallurgical and metalworking industry (except for machinery and equipment) – 34.6%.

The share of food, beverages and tobacco products made up 14.5%, textiles, clothing, leather and related products – 14.4%, rubber, plastic products and other non-metallic mineral products – 10.0%, chemical products – 8.0%, motor vehicles, trailers, semi-trailers and other transport equipment – 5.9%, electrical equipment – 2.6%, coke and refined products – 2.5% and other manufactured products – 7.5%. As a result of the ongoing large-scale work on the construction of multi-residential.

A positive contribution to GDP growth from the construction industry is estimated at 1.3 percentage points. In January-June 2019, the gross value added of the services sector reached 75,48 trillion soums and increased by 5.1% compared to the same period of the previous year (the contribution to GDP growth was 1.7 percentage points). From it, trade services (including repair of motor vehicles) increased by 3.8%, accommodation and food services – by 6.4%, transportation and storage – by 4.3%, information and communication – by 7.7% and other service industries – by 5.4%. In the structure of gross value added trade (including repair of motor vehicles), the largest share is accounted for by retail trade (except for motor vehicle trade) – 67.6%. The share of wholesale trade (except for motor vehicles) is 26.3%, wholesale and retail trade in motor vehicles and their repair – 6.1%. In the structure of gross value added of transportation and storage, the largest share is accounted for by road transport – 52.7%.

Pipeline transport accounts for 18.9%, railway transport – 12.2%, auxiliary transport activities – 9.8%, air transport – 6.4% of the total value added of the industry. In January-June 2019, the GDP index-deflator relative to prices for the same period of 2018 was 119.6%. The highest deflator index values in the structure of GDP were recorded in industry – 136.5%, other services industries – 131.0%. The deflator index below the average national level was recorded in agriculture, forestry and fisheries – 113.8%, trade, accommodation and food services – 113.3%, construction – 113.0%, transportation and storage, information and communications – 110, 1%, in net taxes on products – 94.7%.

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