Share of industry in Uzbekistan’s GDP increased to 26.7%

Experts of the Institute of Forecasting and Macroeconomic Research (IFMR) studied the reforms implemented in the industrial sector in Uzbekistan in recent years and their most important results.

It is noted that in 2017-2022, the share of industry in the gross domestic product increased from 21.1% to 26.7%. During this period, the increase in the production of industrial products was 41.3%. In turn, such steady growth has led to an increase in the share of industry in GDP.

The manufacturing industry developed rapidly, the growth rate during the past period was 47.4%. In addition, significant growth rates were observed in the electricity, heat and gas supply network (39.2%), as well as in the mining industry (30.4%).

“83.2% of Uzbekistan’s industry is the manufacturing industry. This is the result of the implementation of comprehensive programs for the development of industries aimed at expanding the production of products with high added value, increasing the level of processing of raw materials, and introducing modern technologies.

The increase in the share of medium and high-tech industries from 52.7% to 61.7% also indicates qualitative changes in the structure of the industry. This is evidence of increased production of high-value-added products, which are in demand both in the domestic market and in the foreign market.

For example, the production of portland cement increased by 1.3 times, lead batteries – by 1.4 times, car engines – by 2.5 times, passenger cars – by 2.3 times, refrigerators and freezers – by 3.7 times,” the IFMR said in its review.