Tashkent, Uzbekistan (UzDaily.com) -- In May 2020, the Business Activity Index (IDA), calculated by the Center for Economic Research and Reform CERR, amounted to:

- 1,056 points, compared with April 2020 (an increase of 5.6%);

- 930 points, compared with May 2019 (a decrease of 7.0%);

- 1390 points, compared with January 2015 (an increase of 39.0%).

In May of this year, the Business Activity Index showed a moderate departure from historical lows shown in April at the peak of quarantine restrictions. This suggests that business activity in the economy began to recover. Despite this, the IDA values, compared to the same month last year and to the base period, are still at levels corresponding to a deep recession.

The index of business activity in May 2020 increased moderately by 5.6% and amounted to 1056 points, compared with the previous month, due to changes in the following components:

- an increase in the number of transactions in bank accounts of business entities by 7.6%;

- component growth of existing business entities by 0.5%;

- decrease in the intensity of procurement of raw materials on the commodity exchange by 3.0%;

- growth of the component of trademarks by 2.3 times.

In the regional context, Bukhara region showed the highest growth.

In May 2020, the Business Activity Index for all regions increased compared to the previous month (April 2020). In Bukhara (43.8%), Surkhandarya (40.1%), Samarkand (35.3%), Jizzakh (32.0%), Andijan (29.2%), Kashkadarya (24.2%), Navoi (24.1%) in the regions and the city of Tashkent (22.8%) significant growth was observed.

OPERATIONS WITH BANK ACCOUNTS

The number of interbank payment transactions in May 2020 made up 4.05 million and increased by 287.3 thousand transactions (7.6%), compared with April 2020. Compared with the same period of last year, there is a decline of 34.7%. Compared to the base period (January 2015), this component of the IDA decreased by 6.8%.

In all regions, the number of banking operations increased, except for Samarkand and Andijan regions.

In May 2020, in all regions, the number of banking operations between legal entities increased compared to the previous month, except for Samarkand and Andijan regions. The most significant growth was observed in Namangan (13.9%), Ferghana (13.9%), Jizzakh (10.4%) regions and the city of Tashkent (12.3%).

ACTIVITY ON COMMODITY EXCHANGE

In May 2020, the exchange component of the IDA reached 0.970, which means a decline in the level of the component by 3.0% compared to the previous month. The decrease in the component is associated with a decrease in the number of transactions.

As a result of May, the Republican Commodity and Raw Materials Exchange concluded 24082 transactions, which is 26945 less transactions (2.1 times less) than in April this year (51027). The total turnover of the commodity exchange in May 2020 made up 3.33 trillion soums, which is 11.4% more compared to the previous month.

ACTIVITY OF ECONOMIC SUBJECTS

The component of operating economic entities in May 2020 reached 1.0047, which means an increase in the component by 0.5% compared to the previous month.

The number of operating business entities in May 2020 increased by 7467 units compared to April 2020 (456833 units) and reached 464300 units.

The number of large enterprises decreased by 87 units.

During the reporting period, the number of small enterprises increased from 355701 to 362583 units (an increase of 6882 units). The number of farms increased from 97983 to 98655 units (by 672 units). The number of operating large enterprises amounted to 3062 units, which is 87 units less than in April 2020.

BRAND REGISTRATION

In May 2020, the index of protected trademarks amounted to 2,333, which means an increase of 2.3 times over the previous month. Legal entities registered 42 trademarks and trade names.