Uzbekistan - Economy
How is the economy of Uzbekistan? Based on the information we have, Uzbekistan has a lower middle-income Central Asian economy; CIS Free Trade Area member but no intention of EAEU membership; key natural gas, cotton, and gold exporter; landlocked and environmentally fragile; positive growth through COVID-19, but poverty increasing. Key agricultural products in this country include: milk, wheat, carrots/turnips, cotton, potatoes, tomatoes, grapes, vegetables, watermelons, apples (2022).
More about the economy of Uzbekistan
Labor force 14.27 million (2023 est.)
Industrial production growth rate 6.15% (2023 est.)
Industries textiles, food processing, machine building, metallurgy, mining, hydrocarbon extraction, chemicals
Population below poverty line
Taxes and other revenues 14.79% (of GDP) (2020 est.)
Fiscal year
Exchange rates
Currency Uzbekistani soum (UZS) per US dollar -
Exchange rates 2023 11,734.833 (2023 est.)
Exchange rates 2022 11,050.145 (2022 est.)
Exchange rates 2021 10,609.464 (2021 est.)
Exchange rates 2020 10,054.261 (2020 est.)
Exchange rates 2019 8,836.788 (2019 est.)
Debt - external
Debt - external 2022 $22.305 billion (2022 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $34.558 billion (2023 est.)
Reserves of foreign exchange and gold 2022 $35.774 billion (2022 est.)
Reserves of foreign exchange and gold 2021 $35.375 billion (2021 est.)
Current account balance
Current account balance 2023 -$7.788 billion (2023 est.)
Current account balance 2022 -$617.833 million (2022 est.)
Current account balance 2021 -$4.898 billion (2021 est.)
Public debt
Public debt 2017 24.3% of GDP (2017 est.)
Budget
Revenues $20.578 billion (2022 est.)
Expenditures $20.79 billion (2022 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 17.71% of GDP (2023 est.)
Remittances 2022 20.63% of GDP (2022 est.)
Remittances 2021 13.33% of GDP (2021 est.)
Household income
Lowest 10% 2.5% (2022 est.)
Highest 10% 23.2% (2022 est.)
Average household expenditures
On food 46.4% of household expenditures (2022 est.)
On alcohol and tobacco 3.2% of household expenditures (2022 est.)
Imports
Imports 2023 $42.098 billion (2023 est.)
Imports 2022 $35.61 billion (2022 est.)
Imports 2021 $27.936 billion (2021 est.)
Imports (partners) China 24%, Russia 19%, Kazakhstan 12%, South Korea 8%, Turkey 6% (2022)
Comodities Imports force vehicle parts/accessories, packaged medicine, cars, wheat, refined petroleum (2022)
Exports
Imports 2023 $42.098 billion (2023 est.)
Imports 2022 $35.61 billion (2022 est.)
Imports 2021 $27.936 billion (2021 est.)
Exports (partners) Switzerland 25%, Russia 15%, China 12%, Turkey 9%, Kazakhstan 7% (2022)
Comodities Exports force gold, cotton yarn, garments, natural gas, refined copper (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $319.174 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $301.139 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $284.984 billion (2021 est.)
GDP (official exchange rate) $90.889 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $8,800 (2023 est.)
Real GDP per capita 2022 $8,400 (2022 est.)
Real GDP per capita 2021 $8,200 (2021 est.)
GDP - composition, by sector of origin
Agriculture 23% (2023 est.)
Industry 30.5% (2023 est.)
Services 41% (2023 est.)
GDP - composition, by end use
Household consumption 59.7% (2023 est.)
Government consumption 16.1% (2023 est.)
Investment in fixed capital 34.8% (2023 est.)
Investment in inventories 8.3% (2023 est.)
Exports of goods and services 26.5% (2023 est.)
Imports of goods and services -45.5% (2023 est.)
Unemployment rate
Unemployment rate 2023 4.53% (2023 est.)
Unemployment rate 2022 4.54% (2022 est.)
Unemployment rate 2021 5.35% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 11% (2023 est.)
Male 7.1% (2023 est.)
Female 18.3% (2023 est.)
All Important Facts about Uzbekistan

Want to know more about Uzbekistan? Check all different factbooks for Uzbekistan below.

Uzbekistan is found in Central Asia