Uzbekistan and Turkmenistan have agreed to expand the bilateral trade turnover to $1 billion in the near future. Uzbekistan’s Minister of Investment and Foreign Trade Sardor Umurzakov during negotiations with Deputy Chairman of the Cabinet of Ministers of Turkmenistan Serdar Berdimuhamedov on August 4 agreed to abolish existing tariff and non-tariff barriers and simplify the…
Uzbekistan’s GDP expanded by 6.2% YoY in January-June. The growth of industry comprised 8.5%, investment – 5.9% and the service sector – 8%. The inflation rate was 10.9%. The results for the reporting period were unveiled during a videoconference chaired by President Shavkat Mirziyoyev on August 3. Industrial products worth $18.7 billion were manufactured with…
Canada witnessed an increase in imports of inorganic chemicals and compounds of precious metals and radioactive elements from Uzbekistan, Global Affairs Canada (Department of Foreign Affairs of Canada) reported. Canadian merchandise exports to Uzbekistan have traditionally been made of meat and seafood preparations, motor vehicles, medical and scientific instrumentation. At the same time, Uzbek merchandise…
Uzbekistan’s central bank has decided to keep its main interest rate unchanged at 14% per annum. “The decision was made in order to ensure a balance between achieving the forecast inflation indicators by the end of the year and maintaining economic growth in the context of recovery of economic and investment activity,” the regulator said…
Uzbekistan carried out $4.6 billion worth of construction work during January-June. The country’s statistical committee said that construction volume surged by 100.1% YoY. The public sector completed 95.9% of all works. Large construction organizations carried out construction work worth some $1.15 billion, with the share of small enterprises and microfirms amounting to $2.4 billion. (Uzreport/Business…
The average monthly wage of employees of enterprises in Uzbekistan amounted to UZS 2.9 million in January-June, up by 16% YoY. According to data provided by the country’s statistical committee, the highest level of the average monthly wage for the specified period was observed in financial and insurance activities, the lowest in the field of…
Uzbekistan’s foreign trade turnover amounted to $18 billion in January-June, up by 13.6% YoY. The country’s statistical committee said that the number was still below the pre-pandemic figure of $19.6 billion. Exports exceeded $7 billion, expanding by 12.3%. Imports increased by 14.3%, to $10.9 billion. The negative balance of foreign trade turnover amounted to $3.9…