Uzbekistan’s GDP grows by 5.2%
The GDP of the Republic of Uzbekistan in January-September 2018 in current prices, according to preliminary estimates, made up 244.34 trillion soums and, compared with the corresponding period of last year, increased in real terms by 5.2%.
State Statistics Committee of Uzbekistan stated that the index - the deflator of GDP in relation to prices in January - September 2017 was 131.6%.
GDP per capita was 7.43 million soums, which is 3.5% more than in the corresponding period of last year.
The economic growth rate is due to the positive dynamics in the main sectors of the economy. Gross value added (GVA), created by all sectors of the economy, accounted for 86.3% of total GDP and increased by 5.3% (contribution to GDP growth – 4.6 percentage points). Net taxes on products reached 13.7% in the structure of GDP and showed an increase of 4.5% (contribution to GDP growth – 0.6 percentage points).
The largest contribution to GDP growth was made by the services sector (2.5 pp), which grew by 6% compared to January-September of 2017. Out of it, trade services (including repair of motor vehicles) grew by 3.9%, accommodation and food services - by 5.6%, transportation and storage - by 3.9%, information and communication - by 17% and other service industries - by 6.4%.
By industry, there is a 6.3% increase in value added. At the same time, a positive contribution to GDP growth from industrial production is estimated at 1.4 pp. Positive dynamics in the industry is due to the increase in the added value of the mining industry and quarrying - by 28.5%, manufacturing - by 2.4% and other industries - by 2%.
Compared to the corresponding period of last year, the volume of construction work increased by 7.4%. A positive contribution to GDP growth from the construction industry is estimated at 0.5 percentage points.
According to the results of January-September 2018, a positive growth rate of 1.3% is observed in agriculture, forestry and fisheries. The contribution of this industry to GDP growth was 0.2 pp.
In January-September 2018, the GDP deflator reached 131.6% relative to prices for the same period in 2017. The highest values of the deflator index in the structure of GDP were recorded in net taxes on products – 137.7% and industry – 147.5%. Deflator indices below the average national level were recorded in agriculture, forestry and fisheries – 129.9%, construction – 124.9%, trade, accommodation and food services – 118.9%, transportation and storage, information and communication – 115.0%, other services industries – 127.1%.
Compared to the corresponding period of 2017, the share of agriculture, forestry and fishery in the sectoral structure of GDP decreased from 18.3% to 17.5%, construction - from 7.3% to 7.1%, while the specific industry weight increased from 26.6% to 30.3%.
The share of the service sector in the sectoral structure of GDP was 45.1% and, as compared with the same period last year, decreased by 2.7 percentage points.