Uzbekistan’s economy grew by 5.8% in 9 months of 2023
In January-September 2023, the Statistics Agency reports that Uzbekistan's economy grew by 5.8%. The published data shows that GDP growth slowed down. And growth in total personal income totaled a modest 3.5% compared to 11.1% last year.
The construction sector of the republic showed growth of 5.6%, but less than last year (6.6%). Cargo turnover rose by 0.1%. Passenger turnover increased by 5.4%. Market services also dropped from 15.4% to 12.1%.
But there were also those spheres that grew faster than last year. For example, agriculture, forestry and fisheries accelerated to 4.1% this year. Industry showed growth of 5.7%. The growth of total personal income accounted for a modest 3.5%
According to estimates of various financial institutions and rating agencies, Uzbekistan's economy this year will grow more slowly than it did last year. For example, the International Monetary Fund (IMF) forecasts a 5.5% increase in GDP. For comparison: in 2022, the indicator was 5.7%.
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