Uzbekistan’s GDP makes up 128.55 trillion soums in 1Q

Tashkent, Uzbekistan (UzDaily.com) -- According to a preliminary estimate, in January-March 2021, the gross domestic product (GDP) of the Republic of Uzbekistan in current prices made up 128.55 trillion soums and, compared to January-March 2020, increased in real terms by 3.0%, the State Statistics Committee of Uzbekistan said. 

The GDP deflator index, in relation to the prices of January-March 2020, amounted to 111.0%.

In January-March 2021, GDP per capita in current prices amounted to 3.71 million soums (or, in the equivalent – US$353.4) and, compared to January-March 2020, increased by 1.0 %.

According to the results of January-March 2021, in the structure of the GDP produced, the gross added value of the production of goods reached 64.76 trillion soums, the services sector – 52.002 trillion soums, and net taxes on products – 11.79 trillion soums.

Calculated in US dollars at the average exchange rate for the reporting period, nominal GDP was formed in the amount of US12.23 billion (for January-March 2020 – US$11.8 billion).

In January-March 2021, GDP growth slowed down to 3.0% against 4.6% in January-March 2020 and 6.0% in January-March 2019. At the same time, the GDP deflator index slowed down to 111.0% after 115.6% in January-March 2020 and 120.9% in the corresponding period of 2019.

In January-March 2021, GDP per capita growth in real terms slowed down to 1.0% against growth by 2.6% in January-March 2020 and by 4.0% in January- March 2019.

The gross value added created by all sectors of the economy amounted to 90.8% of the total GDP and increased by 3.0% (contribution to GDP growth - 2.7 percentage points). Net taxes on products in the structure of GDP amounted to 9.2% and increased by 2.8% (contribution to GDP growth - 0.3 percentage points).

A positive contribution to GDP growth was made by the sectors of agriculture, forestry and fisheries - 0.4 percentage points. (in January-March 2020 – 0.5 percentage points), industry - 1.2 percentage points (in January-March 2020 - 0.6 percentage points) and the service sector - 1.1 percentage points (in January-March 2020 - 2.5 percentage points). The construction industry had almost no impact on GDP growth (in January-March 2020 - 0.5 percentage points), added value, compared to January-March 2020, increased by 0.5%. Due to the growth of net taxes on products, GDP increased by 0.3 percentage points. (in January-March 2020 - 0.5 percentage points).

At the end of January-March 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 14.4% to 15.0%, while the share of industry decreased from 33.5% to 33.3%, construction - from 7.3% to 7.2% and the service sector - from 44.8% to 44.5%.

At the end of January-March 2021, agriculture, forestry and fisheries showed a positive growth rate of 3.1%. The positive dynamics in this industry is due to an increase in crop production by 5.0% (in January-March 2020 - an increase of 6.4%, in January-March 2019 - an increase of 0.6%) and livestock - by 3.0% (in January-March 2020 - an increase of 3.6%, in January-March 2019 - an increase of 3.4%).

The industry has seen an increase in value added in comparable prices by 3.8%. The positive dynamics in this industry is mainly due to an increase in the added value of the manufacturing industry by 4.6% (in January-March 2020 - by 6.5%, in January-March 2019 - by 5.6%). The electricity, gas, steam and air conditioning industry also showed positive growth of 10.1% against growth of 7.9% in January-March 2020 and 5.1% in January-March 2019.

The added value of water supply, sewerage, waste collection and disposal showed an increase of 1.0% (in January-March 2020 - a decrease by 14.5%, in January-March 2019 - a decrease by 1.8%).

The added value in the mining and quarrying industry decreased by 0.1% (in January-March 2020 - a decrease of 13.3%, in January-March 2019 – an increase of 3.9%). At the same time, the decrease in the added value of this industry was mainly influenced by the decrease in coal production by 6.3% and gas condensate by 0.8%.

In the period under review, the share of the manufacturing industry in the structure of value added in the industrial sector increased to 73.8% against 70.2% in January-March 2020. Accordingly, there was a decrease in the share of the mining industry and quarrying to 17.1% (in January-March 2020 - 20.4%). At the end of January-March 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 42.7%.

The share of production of textiles, clothing, leather and related products amounted to 14.7%, food, beverages and tobacco products - 13.1%, chemical products - 8.3%, rubber, plastic products and other non-metallic mineral products - 7.1%, vehicles, trailers, semi-trailers and other transport equipment - 3.8%, computers, electronic and optical products - 2.3%, coke and petroleum products - 2.1% and other manufacturing products laziness - 5.9%.

Compared to January-March 2020, construction work increased by 0.5%, while the growth rate of construction of buildings and structures decreased by 5.1% (in January-March 2020 - 6.7%, in January-March 2019 - 12.7%), civil construction - 19.5% (in January-March 2020 - 16.5%, in January-March 2019 - 81.6%) and specialized construction works - 10.0% (in January-March 2020 - 4.8%, in January-March 2019 - 32.5%).

In January-March 2021, the volume of construction work amounted to 19.54 trillion soums. Large organizations account for 20.9% of the total volume of construction work, small enterprises and microfirms - 59.7%, individuals - 19.4%.

At the end of January-March 2021, the gross value added of the service sector amounted to 52.002 trillion soums and, compared to the corresponding period of 2020, increased by 2.8%. Including trade services increased by 2.8%, accommodation and food - by 4.4%, information and communication - by 16.6%. Along with this, transportation and storage services decreased by 4.1%.

In January-March 2021, in the structure of gross value added of trade, the largest share fell on retail trade (excluding trade in motor vehicles) and reached 68.8% (in January-March 2020 - 68.4%, in January-March 2019 - 68.7%).

The share of wholesale trade (except for trade in motor vehicles) amounted to 24.8% (in January-March 2020 - 25.0%, in January-March 2019 - 24.9%), wholesale and retail trade in motor vehicles and their repairs - 6.4% (in January-March 2020 - 6.6%, in January-March 2019 - 6.4%).

In January-March 2021, in the structure of the gross value added of the transportation and storage industry, the largest share fell on road transport - 58.5% (in January-March 2020 - 53.1%, in January-March 2019 - 50.3%).

Pipeline transport amounted to 17.4% (in January-March 2020 - 18.5%, in January-March 2019 - 22.2%), railway transport - 12.2% (in January-March 2020 - 12, 9%, in January-March 2019 - 12.1%), auxiliary transport activities - 9.5% (in January-March 2020 - 9.9%, in January-March 2019 - 10.3%), air transport - 2.4% (in January-March 2020 - 5.6%, in January-March 2019 - 5.0%) of the total value added of this industry.

In January-March 2021, the share of information and communication in the country’s economy amounted to 2.0% (in January-March 2020 - 1.9%). 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 73.4% (in January-March 2020 - 77.4%).

The remaining 26.6% of the added value (in January-March 2020 - 22.6%) created in this industry falls on other areas (publishing, computer programming, software development and broadcasting, etc).

In January-March 2021, small entrepreneurship (businesses) created added value in the amount of 52.51 trillion soums, or 45.0% 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 32.2%, industry - 14.1%, construction - 13.2% and services - 40.5%. The share of small entrepreneurship (business) in the main sectors of the economy was: in agriculture, forestry and fisheries - 97.0%, construction - 81.9%, services - 40.9% and industry - 19.1%.

In January-March 2021, 26.8 thousand new small enterprises and microfirms were created in the republic (excluding dehkans and farms). The largest number of them was created in trade (33.9%), industry (20.9%), agriculture, forestry and fisheries (16.9%), construction (6.9%), accommodation and food services. (5.7%), information and communication (2.6%), transportation and storage (2.5%).

In January-March 2021, the GDP deflator index amounted to 111.0% in relation to the prices of January-March 2020. The highest values of indices - deflators in the context of industries were noted in agriculture, forestry and fisheries - 115.0%, trade, housing and food services - 113.9%, and construction - 113.5%.

Indices - deflators are lower than, in general, in the economy (111.0%) were observed in industry - 109.7%, transportation and storage, information and communications - 108.6% and other service industries - 110.7%. At the same time, the index-deflator of net taxes on products was 108.0%.

The consumer price index (CPI) in the Republic of Uzbekistan in January-March 2021 to January-March 2020 reached 11.3%, while the CPI for goods was 12.1%, for services - 8.4%.