Uzbekistan’s GDP 407.51 trillion soums in 2018

Tashkent, Uzbekistan (UzDaily.com) -- According to preliminary estimates, the GDP of the Republic of Uzbekistan for 2018 in current prices made up 407.51 trillion soums and, compared with 2017, increased by 5.1% in real terms. The index - deflator of GDP in relation to prices in 2017 was 128.1%.

GDP per capita reached 12.36 million soums, which is 3.3% more than in the corresponding period of last year.

The economic growth rate is due to the positive dynamics in the main sectors of the economy. The gross value added created by all sectors of the economy reached 88.8% of total GDP and increased by 5.1% (the contribution to GDP growth was 4.5 percentage points). Net taxes on product amounted to 11.2% in the structure of GDP and showed an increase of 5.5% (contribution to GDP growth - 0.6 percentage points).

The largest contribution to GDP growth was made by industry (2.1 percentage points), which grew by 10.6% compared to the previous year. The positive dynamics in this industry was achieved due to the growth of the added value of the mining industry and development of quarries - by 28.2%, manufacturing industry - by 6.4%, and other industries - by 4.7%.

At the end of 2018, in the structure of gross value added of the manufacturing industry, the largest share is accounted for by the metallurgical and metalworking industry (except for machinery and equipment) - 24.5%.

The share of food, beverages and tobacco production was 17.0%, textiles, clothes, leather goods and related products - 16.1%, rubber, plastic products and other non-metallic mineral products - 11.3%, chemical products - 9.2%, motor vehicles, trailers, semi-trailers and other transport equipment - 7.4%, electrical equipment - 3.5% and other products of the manufacturing industry - 11.0%.

The positive contribution to GDP growth from the service sector made up 1.8 percentage points. In this area, there is a 5.4% increase in value added. From it, trade services (including repair of motor vehicles) grew by 4.4%, accommodation and food services - by 4.5%, transportation and storage - by 3.7%, information and communication - by 15.3%, other service industries - by 5.4%.

Compared to the corresponding period of last year, the volume of construction work increased by 9.9%. A positive contribution to GDP growth from construction side is estimated at 0.5 percentage points.

At the end of 2018, in agriculture, forestry and fisheries, there was a positive growth rate of 0.3%. The contribution of this industry to GDP growth was 0.1 percentage points.

In 2018, the GDP deflator index reached 128.1% relative to 2017 prices. The highest values of deflator indexes in the structure of GDP were recorded in industry - 144.3%, agriculture, forestry and fisheries - 128.6%.

The deflator index is lower than the average national level in construction - 23.9%, trade, accommodation and food services - 17.8%, transportation and storage, information and communication - 11.0%, other services industries - 24.8%, and in net taxes on products - 24.1%.

Compared to the corresponding period of last year, the share of agriculture, forestry and fisheries in the sectoral structure of GDP decreased by 1.6 percentage points and amounted to 32.4%.

The share of industry increased from 22.2% to 26.3%, while the share of construction remained at the level of 2017 and made up 5.7%.

The share of services sector in the sectoral structure of GDP was 35.6% and, compared with 2017, decreased by 2.5 percentage points.