Economic development of Uzbekistan for the first half of 2025

According to the results of the first half of 2025, the economy of Uzbekistan maintains rapid growth dynamics.

According to the data National Committee on Statistics, gross domestic product (GDP) for January–June 2025 amounted to 807.9 trillion. soums, an increase of 7.2% compared to the same period last year.

Positive trends continue in the countries that are the main foreign trade partners. In Kazakhstan, GDP in January-June amounted to 6.2%, in Kyrgyzstan - 11.7%, in China - 5.3%, in Russia - 1.4% according to Rosstat.

InflationThe consumer price index amounted to 104.2% by December 2024, which indicates a slowdown in price growth compared to the previous period. The segments of food and non-food products show moderate price increases, while services continue to be the main driver of inflation, having the greatest impact on the overall level of consumer prices.

InvestmentThe volume of investment in fixed capital increased by 5.5%, reaching 273.4 trillion. soums Despite the slowdown from strong growth at the start of the previous year, investment activity remains stable. Non-centralized sources prevail, including funds from enterprises and households, as well as foreign direct investment.

Manufacturingindustriesare demonstrating steady growth. The volume of industrial output increased by 6.6% (488.5 trillion soums), agriculture, forestry and fisheries - by 4.0% (194.9 trillion soums), construction work - by 10.7% (137.6 trillion soums).

The service sectoralso shows active growth: the volume of services provided increased by 13.3% to 458.2 trillion. soums, and retail trade turnover increased by 9.7%, amounting to 198.7 trillion. soums The high growth rates of services and trade are due to the growth of household incomes, ongoing digitalization, the growing transition to online payments and digital services, which makes the services sector increasingly dynamic.

Foreign economic activity. Foreign trade turnover reached $37 billion, an increase of 16.1%. Exports amounted to $16.9 billion (+29.1%), while imports increased by 7.0%, to $20.1 billion. The acceleration of exports is associated with an increase in the supply of services, raw materials and energy resources.

In general, in the first half of 2025, the economy of Uzbekistan demonstrates strong recovery and structural stability. Active investment and foreign economic policies, support for the real sector and reduced inflationary pressure ensure positive macroeconomic dynamics.

CERR Public Relations Sector