Uzbekistan’s GDP during the first nine months of 2021 grew by 6.9%, which was significantly higher than the 5.1% expected last year. More than 338,000 new jobs were created and 77,000 new business entities started operation.
Exports (excluding gold) increased by 34.1% YoY, to $8.9 billion.
Until year-end, the GDP growth is expected to be around 6.5-7%, driven by growth in industry (9.1%) and the service sector (8.6%). The volume of construction services set to expand by 6.6%, while growth in agriculture is forecast to comprise 2.8%.
The IMF has recently improved the annual forecast for the economy of Uzbekistan up to 6.1%. The World Bank said it was expecting economic growth at 6.2%.
In 2022, the economy is forecast to grow by 5.9% and by an average of 6.5% in subsequent years. (Uzreport/Business World Magazine)
