Uzbekistan’s GDP Surpasses US$145 Billion, Exports and Investments Reach Record Levels

Tashkent, Uzbekistan (UzDaily.com) — President of Uzbekistan Shavkat Mirziyoyev informed the Oliy Majlis and the nation that the country’s GDP has exceeded US$145 billion for the first time in its history.

“Our economy has been completely reshaped. We have expanded market relations and social protection, and strengthened the rule of law. Most importantly, the results of our reforms are felt in the daily life of every mahalla, every home, and every individual,” the head of state noted.

Uzbekistan’s exports increased by 23%, reaching US$33.4 billion, while the volume of attracted investments hit a record US$43.1 billion, equivalent to 31.9% of the country’s GDP. The President emphasized that GDP could reach US$167 billion next year.

To boost productivity and efficiency, a “Doubling Productivity and Efficiency” program will be launched with the involvement of US$200 million in international loans and grants.

Additionally, Uzbekistan rose 71 positions in the World Bank’s Technology Maturity Index, entering the top ten countries, and the country’s sovereign rating increased from “BB-” to “BB.”

A “Fourth Industrial Revolution Center” will also be established in the country to implement Industry 4.0 solutions, including robotics, the Internet of Things, and smart factories. Companies will be able to test new technologies before scaling them into production, providing an additional incentive for the innovative development of the economy.