Harvard Growth Lab: Uzbekistan climbs 25 spots in economic complexity ranking in five years

In April, analysts at Harvard Growth Lab updated the Atlas of Economic Complexity and released the latest Economic Complexity Index, ranking 145 global economies. The index evaluates countries based on the technological sophistication and diversity of their exports. Uzbekistan made a significant leap in the Economic Complexity Ranking, climbing 25 places over the past five years to reach 80th among 145 countries.

The national economy continues to show stable growth, with exports increasing by an average of 20.5% annually—well above the growth rates of neighboring countries in the region. The exports of finished goods, beyond raw materials, have grown by 21.9% per year, outpacing the global average. Moderately processed industrial goods played the biggest role in boosting export growth over the past five years. Among the most rapidly growing export categories are transport equipment (up 89%), industrial machinery (77%), and electrical engineering products (59%).

Uzbekistan also added 67 new products to its export portfolio, generating $2.1 billion in revenue. This confirms the success of the country’s strategy to enhance diversification and global competitiveness. In 2023, these products contributed $59 in per capita income.

According to the Harvard Growth Lab’s analysis, Uzbekistan currently produces 162 types of goods with a competitive edge in global markets—highlighting its rising potential in the global economy.

The Lab also forecasts that Uzbekistan’s economy will grow at an average annual rate of 5.6% through 2033, placing it second in the world in terms of projected growth rate.