President gives 5.6% growth forecast for Uzbekistan's economy in 2023
By Muzaffar Ismailov in Tashkent
October 23, 2023
Uzbekistan’s GDP is expected to grow by 5.6% in 2023, according to data disclosed during a meeting chaired by the country’s president on October 19. The outcome would be significantly higher than the projected global average economic growth rate, estimated at 3%.
In 9M23, the GDP expansion of Central Asia’s second biggest economy stood at 5.8%. The services sector grew at the highest rate (12.1%), followed by industry (5.7%) and agriculture (4.1%).
Export volume amounted to $17.7bn, up 23.5% y/y.
The volume of utilised investments also increased. It amounted to $18.6bn, primarily due to large industrial and infrastructure projects.
According to President Shavkat Mirziyoyev, there is potential for the industrial sector to grow by 6% due to the launching of new projects worth $13bn. The stabilisation of energy supply and rolling out of industry programmes to raise efficiency would also contribute to an increase in production volumes, he said.
Related Articles
Uzbekistan has pledged to provide the European Union with statistical data to help assess the extent of the circumvention of sanctions, the EU's special envoy for sanctions, David O'Sullivan, told ... more
About a dozen new countries are expected to start producing electricity from nuclear power sources within the next few years, according to the director general of the International Atomic Energy ... more
Uzbekistan attracted $7.5bn in foreign direct investment (FDI) in 9M23, marking a 16% y/y gain, according to the Institute of Macroeconomic and Regional Studies (IMRS). The investment volume in ... more
SELECT `n`.`nid` AS `id`, `n`.`title`, 'bne IntelliNews' AS authors, 'bne IntelliNews' AS bylines, `wc`.`field_website_callout_value` AS `summary`, `smc`.`field_social_media_callout_value` AS `social`, `pd`.`published_at` AS `date`, `p`.`field_publication__tid` AS `publication_id`, `fm`.`uri` AS `image`, `fspcaption`.`field_story_photo_caption_value` AS `image_credit`, `fspcredit`.`field_story_photo_credit_value` AS `image_author`, `ws`.`field_website_sections_tid` AS `section_id`, `fdfs`.`field_subject_tid` AS `subject_id`, `db`.`body_value` AS `body`, `fm2`.`uri` AS `pdf`, `et`.`field_enable_tracking_value` AS `tracking`, `ht`.`field_head_tags_value` AS `headTags`, `bt`.`field_body_tags_value` AS `bodyTags` FROM `node` AS `n`
LEFT JOIN `field_data_field_website_callout` AS `wc` ON wc.entity_id = n.nid
LEFT JOIN `field_data_field_social_media_callout` AS `smc` ON smc.entity_id = n.nid
LEFT JOIN `publication_date` AS `pd` ON pd.nid = n.nid
LEFT JOIN `field_data_field_publication_` AS `p` ON p.entity_id = n.nid
LEFT JOIN `field_data_field_story_picture` AS `sp` ON sp.entity_id = n.nid
LEFT JOIN `file_managed` AS `fm` ON fm.fid = sp.field_story_picture_fid
LEFT JOIN `field_data_field_story_photo_caption` AS `fspcaption` ON fspcaption.entity_id = n.nid
LEFT JOIN `field_data_field_story_photo_credit` AS `fspcredit` ON fspcredit.entity_id = n.nid
LEFT JOIN `workflow_node` AS `wn` ON wn.nid = n.nid
LEFT JOIN `field_data_field_website_sections` AS `ws` ON ws.entity_id = n.nid
LEFT JOIN `field_data_field_subject` AS `fdfs` ON fdfs.entity_id = n.nid
LEFT JOIN `field_data_body` AS `db` ON db.entity_id = n.nid
LEFT JOIN `field_data_field_file` AS `ff` ON ff.entity_id = n.nid
LEFT JOIN `file_managed` AS `fm2` ON fm2.fid = ff.field_file_fid
LEFT JOIN `field_data_field_enable_tracking` AS `et` ON et.entity_id = n.nid
LEFT JOIN `field_data_field_head_tags` AS `ht` ON ht.entity_id = n.nid
LEFT JOIN `field_data_field_body_tags` AS `bt` ON bt.entity_id = n.nid WHERE (n.status = 1) AND (n.type = 'article') AND (n.nid = 297914) AND (wn.sid= 3) AND (p.field_publication__tid IN (2465,2851,3184,3159,3266,3264,3270,3265,3267,3268,3269,3171,3168,3185,3170,1346,1345,3180,3175,3254,3249,1207,1208,3181,3231,3177,3186,3178,1003,3187,2975,3204,3198,3188,3202,3196,3250,3189,3160,3161,3312,3313,3173,3314,3315,3167,3259,3257,3263,3258,3260,3261,3262,3174,3316,3165,3192,3163,3282,3190,2811,3256,3317,3162,3318,3191,3297,3182,3179,3166,3319,3376,3320,3172,3255,3169,1008,3203,3197,3321,3252,3164,1307,3322,3183,3220,3176,3201,3323,1327,1020,1006,1009,1013,1014,1018,1005,1328,1010,1011,1002,1012,1311,1330,1017,1016,1019,1004,1001,1334,1335,1336,1015,1337,1338,1339,1340,1341,2496,2501,2517,2529,2506,2505,2524,2513,2526,2537,2489,2490,2520,2536,2488,2532,2500,2515,2503,2493,2527,2523,2510,2525,2498,2499,2528,2507,2487,2511,2521,2502,2491,2519,2497,2492,2514,2495,2509,2512,1629,3358)) LIMIT 1