GDP of Uzbekistan in current prices makes up 519.82 trillion soums

Tashkent, Uzbekistan (UzDaily.com) -- According to a preliminary estimate, in January-September 2021, the GDP of the Republic of Uzbekistan in current prices amounted to 519.82 trillion soums and, compared to January-September 2020, increased in real terms by 6.9%. The GDP deflator index, in relation to the prices of January-September 2020, amounted to 113.5%.

In January-September 2021, GDP per capita in current prices amounted to 14.93 million soums (or, in equivalent, US$1,402.3) and, compared to January-September 2020, increased by 4.9%.

According to the results of January-September 2021, in the structure of the GDP produced, the gross value added of the production of goods amounted to 295.48 trillion soums, the services sector – 186.62 trillion soums, and net taxes on products – 37.72 trillion soums.

Calculated in US dollars at the average exchange rate for the reporting period, nominal GDP was formed in the amount of US$48.83 billion (for January-September 2020 – US$43.07 billion).

In January-September 2021, GDP growth accelerated to 6.9% against 0.8% in January-September 2020 and 5.6% in January-September 2019.

At the same time, an increase in the GDP deflator index to 113.5% was noted after 112.2% in January-September 2020 and 117.9% in the corresponding period of 2019.

As is clear from the diagram below, in January-September 2021, GDP per capita growth in real terms amounted to 4.9% against a decrease of 1.1% in January-September 2020 and an increase of 3.7% in January- September 2019.

GDP per capita is determined by dividing its total volume in current prices by the average population of the country for a certain period of time. The average resident population of the Republic of Uzbekistan was: in January-September 2019 – 33.49 million people, in January-September 2020 – 34.14 million people, in January-September 2021 – 34.82 million people.

The gross value added created by all sectors of the economy amounted to 92.7% of the total GDP and increased by 6.9% (contribution to GDP growth - 6.4 percentage points). Net taxes on products in the structure of GDP amounted to 7.3% and increased by 7.7% (contribution to GDP growth - 0.5 p.p.).

A positive contribution to GDP growth was made by the sectors of agriculture, forestry and fisheries - 1.0 percentage points. (in January-September 2020 - 0.7 p.p.), industry - 2.3 p.p. (in January-September 2020 - -0.5 p.p.), construction - 0.3 p.p. (in January-September 2020 - 0.5 p.p.) and the service sector - 2.8 p.p. (in January-September 2020 - 0.1 p.p.). Due to the growth of net taxes on products, GDP increased by 0.5 percentage points (in January-September 2020 - 0.4 p.p.).

According to the results of January-September 2021, insignificant changes were noted in the sectoral structure of GDP. Thus, the share of agriculture, forestry and fisheries in the sectoral structure of GDP (GVA) increased from 26.3% to 26.9%, industry - from 26.9% to 27.6%, while the share of construction decreased from 6,9% to 6.8%, services - from 39.9% to 38.7%.

According to the results of January-September 2021, agriculture, forestry and fisheries showed positive growth rates at the level of 4.2%. The positive dynamics in this industry is due to an increase in livestock production by 2.8% (in January-September 2020 - an increase of 2.2%, in January-September 2019 - an increase of 2.6%) and crop production by 5.4% (in January-September 2020 - an increase of 3.1%, in January-September 2019 - an increase of 2.3%).

In the industry, there is an increase in value added by 9.0%. The positive dynamics in this industry is mainly due to an increase in the added value of the mining and quarrying industry by 14.2% (in January-September 2020 – a decrease by 26.8%, in January-September 2019 - an increase by 2.3%) and manufacturing industry by 7.4% (in January-September 2020 - by 4.9%, in January-September 2019 - by 6.1%). The electricity, gas, steam and air conditioning industry also showed positive growth of 10.7% versus growth of 13.8% in January-September 2020 and 5.1% in January-September 2019. In terms of the added value of water supply, sewerage, waste collection and disposal, a decrease of 9.7% was noted (in January-September 2020 – a decrease by 12.8%, in January-September 2019 - a decrease by 3.5%).

In the period under review, the share of manufacturing in the structure of value added in the industrial sector increased to 77.3% against 76.3% in January-September 2020. Accordingly, there was a decrease in the share of the mining industry and quarrying to 15.5% (in January-September 2020 - 15.7%).

At the end of January-September 2021, the largest share in the structure of value added in the manufacturing industry fell on the metallurgical and metalworking industry (except for machinery and equipment), which reached 41.6%. 

The share of production of food, beverages and tobacco products amounted to 13.7%, textiles, clothing, leather and related products - 13.3%, rubber, plastic products and other non-metallic mineral products - 8.2%, chemical products - 7.5%, vehicles, trailers, semi-trailers and other transport equipment - 3.9%, computers, electronic and optical products - 2.3%, coke and petroleum products - 2.0% and other manufacturing products – 7.5 %.

Compared to January-September 2020, construction work increased by 4.5%, while the growth rate of civil construction was 125.0% (in January-September 2020 - 106.0%, in January-September 2019 - 145.4%) and specialized construction works - 128.6% (in January-September 2020 - 85.3%, in January-September 2019 - 115.3%). For the construction of buildings and structures, a decrease in volume was noted in comparable prices, which amounted to 97.0% compared to the same period last year (in January-September 2020 - 112.3%, in January-September 2019 - 122.2%).

In January-September 2021, the volume of construction work amounted to 76.89 trillion soums. Large organizations account for 26.1% of the total volume of construction work, small enterprises and microfirms - 54.7%, individuals - 19.2%.

In January-September 2021, the gross value added of the service sector amounted to 186 616.8 billion soums and, compared to the corresponding period of 2020, increased by 7.6%. Including trade services grew by 10.9%, accommodation and food - by 17.0%, transportation and storage - by 16.0%, information and communication - by 21.6%, other services - by 4.1%. 

The share of wholesale trade (excluding trade in motor vehicles) amounted to 26.7% (in January-September 2020 - 25.6%, in January-September 2019 - 25.4%), wholesale and retail trade in motor vehicles and their repairs - 6.5% (in January-September 2020 - 5.8%, in January-September 2019 - 6.5%).

At the end of January-September 2021, the share of transportation and storage in the GDP of the Republic of Uzbekistan amounted to 5.4%. In the structure of gross value added in the transportation and storage industry, the largest share fell on road transport - 59.9% (in January-September 2020 - 59.5%, in January-September 2019 - 52.2%). 

Structure of gross added value of transportation and storage for January-September 2019-2021 (in% of the total) 

Pipeline transport amounted to 13.6% (in January-September 2020 - 15.7%, in January-September 2019 - 19.7%), railway transport - 11.1% (in January-September 2020 – 13.4%, in January-September 2019 - 11.6%), auxiliary transport activities - 10.9% (in January-September 2020 - 8.9%, in January-September 2019 - 10.8%), air transport - 4.5% (in January-September 2020 - 2.5%, in January-September 2019 - 5.7%) of the total value added of this industry.

In January-September 2021, the share of information and communication in the country’s economy amounted to 1.7% (in January-September 2020 - 1.7%). In the structure of value added in this industry, the main share fell on telecommunications services (wire and mobile communications, Internet, etc.) and amounted to 68.7% (in January-September 2020 - 72.2%). The remaining 31.3% of the added value (in January-September 2020 - 27.8%) created in this industry falls on other areas (publishing, computer programming, programming and broadcasting, etc.).

In January-September 2021, small entrepreneurship (businesses) created added value in the amount of 268 334.3 billion soums, or 55.7% of the total value added in the economy. At the same time, the share of agriculture, forestry and fisheries in the total GVA of small entrepreneurship (business) amounted to 46.9%, industry - 11.1%, construction - 9.5% and services - 32.5%.

The share of small entrepreneurship (business) in the main sectors of the economy was: in agriculture, forestry and fisheries - 97.2%, construction - 77.0%, services - 46.7% and industry - 22.4%.

In January-September 2021, 76.5 thousand new small enterprises and microfirms were created in the republic (excluding dehkan and private farms). The largest number of them was created in trade (37.5%), industry (20.2%), agriculture, forestry and fisheries (12.4%), construction (6.7%), accommodation and food services. (6.5%), information and communication (2.6%), transportation and storage (2.6%).

In January-September 2021, the GDP deflator index amounted to 113.5% in relation to the prices of January-September 2020. The highest values of indices - deflators in the context of industries were noted in agriculture, forestry and fisheries - 119.1%, industry - 114.5% and construction - 114.5%. Indices - deflators are lower than, in general, for the economy (113.5%), were observed in transportation and storage, information and communications - 106.9%, trade, accommodation and food services - 113.3% and other service industries - 109.5%. At the same time, the index-deflator of net taxes on products amounted to 111.0%.

The consumer price index (CPI) in the Republic of Uzbekistan for January-September 2021 to January-September 2020 reached 111.0%, while the CPI for goods was 111.8%, for services - 108.3%.