Uzbekistan revises 2024 GDP upward to $121.4 billion after recalculation

On 17 November, Committee Chair Behzod Khamraev presented the results of the revision, which was carried out to incorporate “newly identified volumes” and ensure full coverage of the 2024 state budget execution. The recalculation added UZS 80.9 trillion to nominal GDP, raising it by 5.6% – from UZS 1,454.6 trillion to UZS 1,535.4 trillion.

The government budget contributed the largest share of additional volume, accounting for UZS 36.4 trillion. Significant revisions were also recorded across several sectors: services gained 16.3 trillion sum in added value, industry UZS 12.7 trillion, construction UZS 10.3 trillion, and agriculture UZS 5.6 trillion.

As a result, GDP per capita for 2024 now stands at UZS 41.3 million.

According to the committee, Uzbekistan’s GDP reached more than UZS 1.3 quadrillion ($108.7 billion) in the first nine months of 2025, marking a real growth rate of 7.6% – the highest since 2021, when the economy rebounded after the COVID-19 pandemic.

The government expects GDP to reach $135 billion by the end of 2025. President Shavkat Mirziyoyev has instructed the Cabinet to maintain strong economic momentum and ensure annual growth of 7%.