GDP growth Uzbekistan and industrial production at the end of 2017 – analysis

Картинки по запросу промышленность узбекистанаIn accordance with the State Statistical Work Program, Goskomstat made a preliminary estimate of the gross domestic product (hereinafter – GDP) for 2017.

According to preliminary data, the GDP of the Republic of Uzbekistan for 2017 in current prices amounted to 249136.4 billion soums and grew by 5.3% relative to the corresponding period of 2016. The index-deflator of GDP in relation to the prices of 2016 amounted to 118.9%.

At the end of 2017, GDP per capita amounted to 7.092 million soums, which is 3.6% more than last year.

GDP production by types of economic activity is characterized by the following data:

As can be seen from the above data, the rate of economic growth is determined by the positive growth rates of the main branches of the national economy. The gross value added (GVA), created by all sectors of the national economy, accounted for 89.8% of the total GDP and grew by 5.3% (contribution to GDP growth – 4.8 percentage points). Net taxes on products accounted for 10.2% of the GDP structure and demonstrated a similar increase of 5.3% (contribution to GDP growth of 0.5 pp).

GDP growth rates by types of economic activity for 2017

types of economic activity

The largest contribution to GDP growth was made by the services sector, which grew by 6.9% compared to the previous year. Of this, trade, including accommodation and food services, grew by 3.9% (share in the GDP structure – 11.5%), transportation and storage, information and communication – by 8.9% (11.0%) and other services – by 7.3% (24.8%).

The added value of the industry showed an increase of 4.6%, which was 26.7% in the GDP structure. A positive contribution to GDP growth from industrial production is estimated at 1.1 pp. Growth in the industry as a whole is ensured by the growth of the added value of the mining industry and quarrying (114.6%) and manufacturing (102.8%).

As a result of ongoing large-scale construction of multi-apartment residential buildings, individual housing for standard projects, engineering and transport communications, social infrastructure facilities, etc., the increase in the volume of construction work was 5.6%. In the structure of GDP, the share of construction amounted to 6.8%. A positive contribution to GDP growth from the construction sector is estimated at 0.4 pp.

In the past year, there was a positive growth rate also in agriculture, forestry and fisheries at 2.0%. The share of this industry was 19.2% in the sectoral structure of GDP. Due to the growth of the agriculture, forestry and fisheries sector, GDP growth was 0.4 pp.

The contribution of industries to GDP growth (GVA)

Branch structure of gross domestic product

The above diagram illustrates the increase in the share of the primary sector (agriculture, forestry and fisheries) in the GDP structure from 18.1% in 2016 to 19.2% in 2017, the secondary sector (industry and construction) – from 32.9% up to 33.5%. And the share of the tertiary sector (service sector) in the GDP structure decreased from 49.0% to 47.3%.

In 2017, in the structure of GDP, 81.0% of the total volume falls to the non-state sector of the economy, 19.0% to the state sector.

 

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