Tashkent, Uzbekistan (UzDaily.com) - In 2019, the gross domestic product of Uzbekistan grew by 5.5% against the forecast of 5.4%, according the Ministry of Economy and Industry of Uzbekistan.

The GDP growth rate exceeded the achieved value of this indicator in 2018 (5.1%). GDP growth was mainly driven by industry growth of 6.4% (forecast 5.2%), construction 11.8% (8.4%), and services 6.1% (6.3%).

GDP per capita made up US$1,741 and increased by 13.6% compared to 2018 (US$1,533 in 2018).

Despite the double depreciation of the national currency in 2017, in 2019 GDP in dollar terms almost reached the figure before the devaluation period.

In dollar terms, GDP in 2017 made up US$59.1 billion, in 2019, the estimated GDP – US$58.3 billion.

The contribution to the total GDP growth in the services sector was 1.9%, industry 1.5%, agriculture - 0.9%, construction - 0.6%, net taxes - 0.6%.

Sustainable economic growth was ensured by the balance between aggregate supply from the sectors of the economy and domestic demand, supported by high rates of investment (growth of 28.6%) and real incomes of the population (10%).

At the same time, despite the achieved results, GDP per capita lags significantly behind the global average and, given the demographic situation, indicates a low economy, limited savings and incomes.

The persistence of strong demographic pressure on the labor market and, consequently, the problems of creating a sufficient number of jobs, makes it difficult to solve the problems of reducing unemployment.