Uzbekistan

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

Uzbekistan - In Short.

Overview of Uzbekistan

Uzbekistan is the geographic and population center of Central Asia. The country has a diverse economy and a relatively young population. Russia conquered and united the disparate territories of present-day Uzbekistan in the late 19th century. Stiff resistance to the Red Army after the Bolshevik Revolution was eventually suppressed and a socialist republic established in 1924. During the Soviet era, intensive production of “white gold” (cotton) and grain led to the overuse of agrochemicals and the depletion of water supplies, leaving the land degraded and the Aral Sea and certain rivers half-dry. Independent since the dissolution of the USSR in 1991, the country has diversified agricultural production while developing its mineral and petroleum export capacity and increasing its manufacturing base, although cotton remains a major part of its economy. Uzbekistan’s first president, Islom KARIMOV, led Uzbekistan for 25 years until his death in September 2016. His successor, former Prime Minister Shavkat MIRZIYOYEV, has improved relations with Uzbekistan’s neighbors and introduced wide-ranging economic, judicial, and social reforms. MIRZIYOYEV was reelected in October 2021 with 80% of the vote.
Value
Country Full Name
Uzbekistan
Country Code
UZB
Region
Europe & Central Asia
Income Group
Lower middle income
Currency Unit
GDP
59929951114
Population
34232050
Land Area
440555
Net National Income Per Capita
1349.902109
GDP per Capita (PPP)
7734.024495

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

Uzbekistan - Economic

Economy of Uzbekistan

Uzbekistan is a doubly landlocked country in which 51% of the population lives in urban settlements; the agriculture-rich Fergana Valley, in which Uzbekistan’s eastern borders are situated, has been counted among the most densely populated parts of Central Asia. Since its independence in September 1991, the government has largely maintained its Soviet-style command economy with subsidies and tight controls on production, prices, and access to foreign currency. Despite ongoing efforts to diversify crops, Uzbek agriculture remains largely centered on cotton; Uzbekistan is the world’s fifth-largest cotton exporter and seventh-largest producer. Uzbekistan’s growth has been driven primarily by state-led investments, and export of natural gas, gold, and cotton provides a significant share of foreign exchange earnings.Recently, lower global commodity prices and economic slowdowns in neighboring Russia and China have hurt Uzbekistan’s trade and investment and worsened its foreign currency shortage. Aware of the need to improve the investment climate, the government is taking incremental steps to reform the business sector and address impediments to foreign investment in the country. Since the death of first President Islam KARIMOV and election of President Shavkat MIRZIYOYEV, emphasis on such initiatives and government efforts to improve the private sector have increased. In the past, Uzbek authorities accused US and other foreign companies operating in Uzbekistan of violating Uzbek laws and have frozen and seized their assets.As a part of its economic reform efforts, the Uzbek Government is looking to expand opportunities for small and medium enterprises and prioritizes increasing foreign direct investment. In September 2017, the government devalued the official currency rate by almost 50% and announced the loosening of currency restrictions to eliminate the currency black market, increase access to hard currency, and boost investment.

Unemployment Rate

Inflation Rate

Uzbekistan - GDP Composition

GDP Composiiton & Value Added of Uzbekistan

Last Updated: Jan, 2021, Updated For 2020.

Uzbekistan - GDP, Value Added

Demographics of Uzbekistan

most of the population is concentrated in the fertile Fergana Valley in the easternmost arm of the country; the south has significant clusters of people, while the central and western deserts are sparsely populated
Geographic Location

Central Asia, north of Turkmenistan, south of Kazakhstan

Races

Uzbek 83.8%, Tajik 4.8%, Kazakh 2.5%, Russian 2.3%, Karakalpak 2.2%, Tatar 1.5%, other 4.4% (2017 est.)

Languages

Uzbek (official) 74.3%, Russian 14.2%, Tajik 4.4%, other 7.1%major-language

Religion

Muslim 88% (mostly Sunni), Eastern Orthodox 9%, other 3%

Dependency & Expectancy of Uzbekistan

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

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Uzbekistan - Social Media Briefing

Uzbekistan - Social Media & Social Commerce

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Politics & Policies of Uzbekistan

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

ADB, CICA, CIS, EAEU (observer), EAPC, EBRD, ECO, EEU (observer), FAO, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO, IMF, Interpol, IOC, ISO, ITSO, ITU, MIGA, NAM, OIC, OPCW, OSCE, PFP, SCO, UN, UNCTAD, UNESCO, UNIDO, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO (observer)

Import of Uzbekistan

Export of Uzbekistan

Import Destination

Export Destination