Uzbekistan’s 1Q23 GDP growth rate was 5.5%,

Uzbekistan’s 1Q23 GDP growth rate was 5.5%,
/ bne IntelliNews
By bne IntelIiNews April 27, 2023

Uzbekistan’s 1Q23 GDP growth rate was 5.5%, according to the country’s State Statistics Committee.

Inflation in the year’s first three months was 2.4%, slowing from 2.9% in January-March.

The first-quarter growth rate of investment in fixed assets was 3.1%, down from 1Q22’s 26.3%.

All sectors of the economy showed growth, though there were slowdowns in the growth rates in industry, construction and services compared to the first quarter of 2022.

Industrial production for the first three months of 2023 increased by 4.1% against 5.7% in the first quarter a year ago.

Foreign trade turnover for the period under review increased by 11.9% to $14.8bn. Export volumes decreased by 2.6% to $5.7bn.

In imports, the main increase was accounted for by an increase in the supply of machinery and transport equipment by 42%, and gains in mineral fuel and oil products by 53%, food by 17%, chemical products by 16% and raw materials by 21%.

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