Preliminary data for the 1st quarter of 2020: Uzbekistan’s GDP grew by 4.1%

What changes have occurred in several economic indicators of Uzbekistan during January-March of this year?

Gross domestic product (GDP) compared with January-March 2019 in real terms increased by 4.1 percent and amounted to 110 517.8 billion soums. The consumer price index compared to December last year grew by 2.8 percent.

Industrial production increased by 4 percent, reaching 82 229.5 billion soums, and production of consumer goods by 11.2 percent, reaching 22 910.1 billion soums. The output of agriculture, forestry and fisheries increased by 3.9 percent, reaching 25,228.5 billion soums.

Investments in fixed assets decreased, making 89.5 percent of the level of the same period last year. At the same time, the volume of construction work grew by 6.5 percent.

Retail trade turnover increased by 3.8 percent, and services provided – by 9.9 percent compared to the same period last year.

The foreign trade turnover of the republic in January-March 2020 amounted to 8.1 billion US dollars, including export – 3.37 billion US dollars, import – 4.76 billion US dollars.

The volume of trade decreased compared to last year, amounting to 89.8 percent of the level of the same period last year. Moreover, exports decreased more than imports, amounting to 89.1 percent from the same period last year, while imports – 90.3 percent.

The foreign trade balance was negative – -1 390.9 million US dollars.

For most of the first quarter, the economy of Uzbekistan did not experience the impact of restrictive measures in connection with coronavirus infection, which accounts for the rather positive indicators of the first quarter for most items. Nevertheless, measures to combat the pandemic taken by other countries have already negatively affected the results of foreign economic activity, as restrictive measures began to be applied to other countries.