Uzbekistan’s GDP grows by 6.2% in January-June 2021
28/07/2021 11:10
Uzbekistan’s GDP grows by 6.2% in January-June 2021
28/07/2021 11:10
Tashkent, Uzbekistan (UzDaily.com) -- According to a preliminary estimate, in January-June 2021, the gross domestic product (hereinafter referred to as GDP) of the Republic of Uzbekistan in current prices amounted to 318.47 trillion soums and, compared to January-June 2020, increased in real terms by 6.2%.
The GDP deflator index, in relation to the prices of January-June 2020, amounted to 112.6%, the State Statistics Committee of Uzbekistan said.
In January-June 2021, GDP per capita in current prices amounted to 9.17 million soums (or, in the equivalent, US$871.8) and, compared to January-June 2020, increased by 4.2%.
According to the results of January-June 2021, in the structure of the GDP produced, the gross value added of the production of goods amounted to 172.76 trillion soums, the services sector – 121.41 trillion soums, and net taxes on products – 24.29 trillion soums. Calculated in US dollars at the average exchange rate for the reporting period, nominal GDP was formed in the amount of US$30.26 billion (for January-June 2020 – US$27.2 billion).
In January-June 2021, GDP growth accelerated to 6.2% against 1.1% in January-June 2020 and 5.8% in January-June 2019. At the same time, the GDP deflator index slowed down to 112.6% after 113.7% in January-June 2020 and 117.7% in the corresponding period of 2019.
In January-June 2021, the official exchange rate of the US dollar in relation to the soum averaged 10 524.5 soums, in the same period of 2020 – 9 790.2 soums.
As it is clear from the presented chart, in January-June 2021, GDP per capita growth in real terms amounted to 4.2% against a decrease of 0.9% in January-June 2020 and an increase of 3.8% in January-June 2019 of the year.
The gross value added created by all sectors of the economy amounted to 92.4% of the total GDP and increased by 6.1% (contribution to GDP growth - 5.7 percentage points). Net taxes on products in the structure of GDP amounted to 7.6% and increased by 7.1% (contribution to GDP growth - 0.5 p.p.)
A positive contribution to GDP growth was made by the sectors of agriculture, forestry and fisheries - 0.4 percentage points. (in January-June 2020 - 0.6 p.p.), industry - 2.2 p.p. (in January-June 2020 - -0.1 p.p.) and the service sector - 3.1 p.p. (in January-June 2020 - 0.1 p.p.). The construction industry did not have an impact on GDP growth (in January-June 2020 - 0.5 p.p.), the added value of which, compared to January-June 2020, increased by 0.1%. Due to the growth of net taxes on products, GDP increased by 0.5 percentage points. (in January-June 2020 - 0.0 p.p.).
At the end of January-June 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 23.0% to 23.1%, industry - from 28.3% to 28.5%, while the share of construction decreased from 7.4% to 7.1%. The share of the service sector remained at the level of the last year of the same period and amounted to 41.3%.
At the end of January-June 2021, agriculture, forestry and fisheries showed positive growth rates at the level of 1.8%. The positive dynamics in this industry is due to the growth of animal husbandry by 4.1% (in In the industry, there is an increase in value added by 8.5%. The positive dynamics in this industry is mainly due to an increase in the value added of the mining industry and quarrying by 7.5% (in January-June 2020 – a decrease of 18.1%, in January-June 2019 – an increase of 5.0%) and the manufacturing industry by 8.6% (in January-June 2020 – by 4.8%, in January-June 2019 – by 5.8%). The electricity, gas, steam and air conditioning industry also showed positive growth of 12.1% compared to an increase of 8.4% in January-June 2020 and 5.6% in January-June 2019. In terms of the added value of water supply, sewerage, waste collection and disposal, an increase of 3.5% was noted (in January-June 2020 – a decrease of 11.9%, in January-June 2019 – a decrease of 11.5%) 2020 - an increase of 1.6%, in January-June 2019 - an increase of 2.0%). At the same time, there was a decrease in crop production by 1.7% (in January-June 2020 - an increase of 4.0%, in January-June 2019 – an increase of 3.6%).
In the period under review, the share of manufacturing in the structure of value added in the industrial sector increased to 76.6% against 74.1% in January-June 2020. Accordingly, there was a decrease in the share of the mining industry and quarrying to 15.7% (in January-June 2020 - 17.6%). At the end of January-June 2021, in the structure of the added value of the manufacturing industry, the largest share fell on the metallurgical and metalworking industry (except for machinery and equipment), which reached 42.2%.
The share of production of textiles, clothing, leather and related products was 13.7%, food, beverages and tobacco products - 13.3%, chemical products - 7.9%, rubber, plastic products and other non-metallic mineral products - 7.5%, vehicles, trailers, semi-trailers and other transport equipment - 4.3%, computers, electronic and optical products - 2.4%, coke and petroleum products - 2.1% and other manufacturing products – 6.6%
Compared to January-June 2020, construction work increased by 0.1%, while the growth rate of civil construction was 18.6% (in January-June 2020 - 8.2%, in January-June 2019 - 46.9%) and specialized construction works - 21.6% (in January-June 2020 – minus 14.9%, in January-June 2019 - 16.4%). For the construction of buildings and structures, a decrease in volume was noted in comparable prices, which amounted to 93.3% compared to the same period of last year (in January-June 2020 - 11.0%, in January-June 2019 - 21.2%).
In January-June 2021, the volume of construction work amounted to 48 609.9 billion soums. Large organizations account for 24.9% of the total volume of construction work, small enterprises and microfirms - 56.7%, individuals - 18.4%.
In January-June 2021, the gross value added of the service sector amounted to 121 410.8 billion soums and, compared to the corresponding period of 2020, increased by 8.0%. Including trade services increased by 9.1%, accommodation and food - by 11.9%, transportation and storage - by 13.4%, information and communication - by 19.9%.
In January-June 2021, in the structure of gross value added of trade, the largest share fell on retail trade (excluding trade in motor vehicles) and amounted to 67.4% (in January-June 2020 - 68.6%, in January-June 2019 - 67.3%).
The share of wholesale trade (excluding trade in motor vehicles) reached 26.0% (in January-June 2020 - 25.6%, in January-June 2019 - 25.9%), wholesale and retail trade in motor vehicles and their repairs - 6.6% (in January-June 2020 - 5.8%, in January-June 2019 - 6.8%).
In January-June 2021, in the structure of the gross value added of the transportation and storage industry, the largest share fell on road transport - 58.0% (in January-June 2020 - 55.5%, in January-June 2019 - 51.3%).
Pipeline transport amounted to 16.9% (in January-June 2020 - 18.4%, in January-June 2019 - 20.7%), railway transport - 11.6% (in January-June 2020 - 13, 7%, in January-June 2019 - 11.8%), auxiliary transport activities - 10.3% (in January-June 2020 - 9.0%, in January-June 2019 - 10.9%), air transport - 3.2% (in January-June 2020 - 3.4%, in January-June 2019 - 5.3%) of the total value added of this industry
In January-June 2021, the share of information and communication in the country’s economy amounted to 1.7% (in January-June 2020 - 1.7%). In the structure of the added value of this industry, the main share fell on telecommunications services (wire and mobile communications, the Internet, etc.) and amounted to 72.1% (in January-June 2020 - 75.2%). The remaining 27.9% of the added value (in January-June 2020 - 24.8%) created in this industry falls on other areas (publishing, computer programming, programming and broadcasting, etc.).
In January-June 2021, small entrepreneurship (businesses) created added value in the amount of 155 886.1 billion soums, or 53.0% 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) was 42.7%, industry - 11.2%, construction - 10.5% and services - 35.6%. The share of small entrepreneurship (business) in the main sectors of the economy was: in agriculture, forestry and fisheries - 97.9%, construction - 78.2%, services - 45.8% and industry - 20.8%.
In January-June 2021, 53.0 thousand new small enterprises and microfirms were created in the republic (excluding dehkans and farms). The largest number of them was created in trade (35.3%), industry (20.9%), agriculture, forestry and fisheries (14.7%), construction (6.8%), accommodation and food services (6.3%), information and communication (2.5%), transportation and storage (2.5%).
In January-June 2021, the GDP deflator index amounted to 112.6% in relation to the prices of January-June 2020. The highest values of indices - deflators in the context of industries were noted in agriculture, forestry and fisheries - 117.8%, construction - 114.2% and trade, housing and food services - 113.5%. Indices - deflators are lower than, in general, in the economy (112.6%), were observed in industry - 111.1%, transportation and storage, information and communications - 107.9% and other service industries - 110.5%. At the same time, the index-deflator of net taxes on products amounted to 112.8%.
The price index (CPI) in the Republic of Uzbekistan in January-June 2021 to January-June 2020 reached 111.1%, while the CPI for goods was 111.8%, for services - 108.4%.
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