Uzbekistan’s gross domestic product (GDP) reached UZS 807.9 trillion ($64.3bn) in the first half of 2025, marking a 7.2% year-on-year increase, according to preliminary data from the Statistics Agency. Strong growth across services, construction, and industrial sectors contributed to this positive economic performance.
The services sector was the primary engine of growth, expanding by 8.2% and contributing 4.0 percentage points (p.p.) to overall GDP growth. Within this sector, trade—including accommodation and food services—grew by 10.2%, while transportation, storage, information, and communication services surged by 14.7%.
Construction activity increased by 10.7%, contributing 0.8 p.p. to GDP growth. Industrial production rose by 6.6%, adding another 1.6 p.p. Manufacturing continued to dominate industry, accounting for 85.1% of total output, and increased by 7.1% compared to the same period in 2024.
Sectors such as rubber and plastic products (up 29.7%) and other non-metallic mineral products (up 23.7%) saw notable gains. However, declines were recorded in crude oil and gas extraction (down 3.3%) and machinery repair and installation (down 8.5%).
Agriculture, forestry, and fisheries grew by 4.0%, contributing 0.6 p.p. to GDP growth. Total output stood at UZS 194.9 trillion ($15.5bn), with fish production rising by 9.4%, melons by 8.3%, eggs by 8.2%, and grapes by 7.8%.
Dehkan and subsidiary farms continued to dominate agricultural production, accounting for 75% of output.
The consumer inflation rate for January–June 2025 reached 4.2%. Services contributed the most to the increase, with prices rising 10.7%, accounting for 2.43 p.p. of overall inflation. Housing, transport, and food-related costs made up nearly 74% of the CPI growth.
Investments in fixed assets totaled UZS 273.4 trillion ($21.8bn), up 5.5% from the same period last year. Foreign direct investment rose sharply by 32.2%. Most investments were sourced from foreign capital, which made up 65.5% of the total.
As of July 1, Uzbekistan had 463,000 registered enterprises and organizations, with over 85% classified as small enterprises or microfirms. Tashkent city led with 103,957 businesses. Trade remained the dominant economic activity, followed by industry and agriculture.
Retail trade turnover hit UZS 198.7 trillion ($15.8bn) in the first half of the year, growing by 9.7%. Large enterprises saw turnover rise by 14.9%, while small business turnover grew by 8.6%. Informal trade accounted for 10.4% of total turnover.
Market services grew by 13.3%, reaching UZS 458.2 trillion ($36.2bn). Financial services rose 19.0%, transport by 12.3%, and communication and information services by 22.1%.
Foreign trade turnover reached $37bn, up 16.1% y/y. Imports grew by 7.0% to $20.1bn, while exports rose 29.1% to $16.9bn. Exports were led by non-monetary gold (38.4% of goods), industrial goods (10.9%), and food products (7.2%).
Imports were dominated by machinery and transport equipment (32.9%), industrial goods (16.0%), and chemicals (12.9%).
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