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 31 December 2017 | $16.9 billion (31 December 2017 est.) |
| Debt - external 31 December 2016 | $16.76 billion (31 December 2016 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 | $16.197 billion (2019 est.) |
| Expenditures | $16.346 billion (2019 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 | 46.5% of household expenditures (2021 est.) |
| On alcohol and tobacco | 3.2% of household expenditures (2021 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 | 17.9% (2017 est.) |
| Industry | 33.7% (2017 est.) |
| Services | 48.5% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 59.5% (2017 est.) |
| Government consumption | 16.3% (2017 est.) |
| Investment in fixed capital | 25.3% (2017 est.) |
| Investment in inventories | 3% (2017 est.) |
| Exports of goods and services | 19% (2017 est.) |
| Imports of goods and services | -20% (2017 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.
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Uzbekistan Factbook
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The Economy of Uzbekistan
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Learn about the Government of Uzbekistan
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Communication in Uzbekistan
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Popular Universities in Uzbekistan
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Enerny in Uzbekistan
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Transport in Uzbekistan
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The Geography and society of Uzbekistan
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The Environment of Uzbekistan
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Military and security in Uzbekistan