Tashkent Business Sentiment Rises in Q2 2026

Tashkent, Uzbekistan (UzDaily.uz) — The proportion of entrepreneurs in Tashkent and the Tashkent region reporting improved business conditions reached 53 percent in the second quarter of 2026, marking a 3 percentage point increase compared to 50 percent during the same period in 2025, according to a business activity survey published by the Central Bank of the Republic of Uzbekistan.

Survey results indicate that 51 percent of respondents experienced an increase in order volumes, compared to 47 percent in Q2 2025. Additionally, 50 percent of participating businesses reported higher production output, up from 43 percent the previous year.

Demand for additional labor was cited by 43 percent of surveyed business owners, compared to 41 percent a year earlier, while 43 percent noted an increase in freight transport volumes, up from 42 percent in 2025. Higher loan and debt service payments were reported by 37 percent of respondents, compared to 36 percent in the corresponding period of 2025.

Industrial capacity utilization across regional enterprises expanded by 18 percentage points year-on-year.

Projections for the upcoming quarter showed continued optimism. Growth in order volumes is anticipated by 51 percent of entrepreneurs, up from 50 percent in 2025, while 46 percent expect production output to expand, compared to 45 percent a year ago. Demand for additional labor is projected to increase by 45 percent of respondents, compared to 44 percent in Q2 2025. Order growth is expected primarily across manufacturing, agriculture, and construction sectors.

Long-term expectations also saw a notable increase, with 82 percent of surveyed entrepreneurs expressing confidence in the broader economy and business environment over the next three years—a 25 percentage point rise from 57 percent recorded in the second quarter of 2025.