World Bank forecasts Uzbekistan will maintain the highest GDP growth rate in the region
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World Bank forecasts Uzbekistan will maintain the highest GDP growth rate in the region

According to the World Bank report titled 'Making AI Work: Jobs, Firms, and Productivity,' Uzbekistan's economy is projected to grow by 7.9% in 2026, which is the highest figure among countries in the Europe and Central Asia region.

The Bank expects overall GDP growth in Central Asia to reach 5.8% in 2026, compared to an average of 2.2% for the Europe and Central Asia region. For Uzbekistan, growth is forecast to slow to 7.5% in 2027 and 7.1% in 2028, following a growth of 7.7% in 2025.

Money transfers remain an important factor supporting domestic consumption. Russia provides about 70% of these transfers to Uzbekistan, with the volume reaching a record $9.2 billion in the first half of 2026, an increase of 13%.

Uzbekistan continues to attract significant foreign direct investment (FDI), supported by major projects in energy, digital infrastructure, and industry. Foreign investments, including loans and FDI, already account for over 70% of the total investment volume in the country. Furthermore, lending to non-financial organizations in Central Asia has increased by more than 12% in real terms.

Uzbekistan's budget deficit is projected to be 2.2% of GDP in 2026, showing almost no change from the previous year. This is due to the compensation of increased social and investment expenditures by reduced energy subsidies, decreased targeted lending to state enterprises, and rising revenues.

The report authors also note that Uzbekistan has some of the best practices in the region: building permits are issued in less than two weeks, and connection to the power grid takes about two weeks.

A separate section of the report is dedicated to the implementation of artificial intelligence in the Uzbek labor market. According to the 'Listening to Uzbekistan' survey from March 2026, clerical workers face the highest risk of AI-driven automation, with about 80% having a medium or high level of exposure. Meanwhile, actual use of AI in the workplace is most common among specialists (48%) and managers (43%), while it is only 27% among clerical workers, despite the high risk of automation.

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Uzbekistan's industrial production grew by 8% in January-August 2026 to 926.5 trillion soums
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uzdaily.uz

Uzbekistan's industrial production grew by 8% in January-August 2026 to 926.5 trillion soums

According to data from the National Statistical Committee of Uzbekistan, industrial production in Uzbekistan reached 926.5 trillion soums from January to August 2026, demonstrating an 8% growth compared to the same period last year.

Manufacturing accounted for the largest share of total industrial output, providing 805.7 trillion soums, or 87% of the total amount. Production in this sector increased by 9.1%.

The electricity, gas, steam, and air conditioning production sector amounted to 58.2 trillion soums (6.3% of the total volume), showing an increase of 11.8%. Mineral extraction and quarrying contributed 57.8 trillion soums (6.2%), although production in this sector decreased by 2.4%. Water supply, sewerage, waste collection, and disposal provided 4.8 trillion soums (0.5%), with output growing by 10.2%.

Within the manufacturing sector, the food industry, beverages, and tobacco accounted for 20.1% of output, while textiles, clothing, and leather goods occupied 11.9%. Chemical products, rubber, and plastics provided 6.3%.

Metal products, electronics, mechanical engineering, automobiles, other transport equipment, as well as machine repair and installation collectively accounted for 15.2%. However, hydrocarbon extraction decreased: natural gas output fell by 16.3% to 24.2 billion cubic meters (from 28.9 billion last year), and condensate production decreased by 14.8% to 648.3 thousand tons. Oil production fell by 2.2% to 425 thousand tons, and coal mining decreased by 10.2% to 4.4 million tons.

Concurrently, gasoline production increased by 4.6% to 811.3 thousand tons, and diesel fuel output grew by 6.1% to 834.3 thousand tons. Portland cement production increased by 2.2% to 14.1 million tons.

Electricity generation increased by 7.3% to 60.5 billion kWh. Large enterprises produced 40.4 billion kWh, which was 2% less than the previous year. Small enterprises whose main activity is electricity production increased output by 32.4% to 20.2 billion kWh. Heat generation by large enterprises decreased by 19.1% to 10.9 million Gcal.

Passenger car production increased by 9.2% to 310.4 thousand units. Cobalt showed the largest production volume with 107.1 thousand cars, an 8.2% increase. Among brands, BYD demonstrated the fastest growth, increasing output by 84.5% from 12.9 thousand to 23.9 thousand cars. Onix production grew by 16.1% to 23.5 thousand units, KIA increased production by 12.9% to 19.4 thousand, and Haval by 17.4% to 6.2 thousand.

Meanwhile, Damas production decreased by 4.9% to 55 thousand cars, and Tracker output decreased by 0.5% to 29.8 thousand, while Chery production decreased by 2.7% to 5.8 thousand. An additional 1.5 thousand Chevrolet Damas Move cars were produced. Truck production increased by 42% to 3.9 thousand units, and automotive engine production grew by 6.9% to 160.7 thousand units.

In the textile sector, cotton fiber production increased by 50.9% to 543.7 thousand tons. Cotton fabric output grew by 18.2% to 74.7 million square meters, knitted fabric production increased by 5.2% to 56.6 thousand tons, and knitted underwear production grew by 43.4% to 96 million units. However, knitted outerwear production decreased by 9.5% to 35.1 million units. Additionally, Uzbekistan produced 972.3 thousand tons of wheat flour.

By region, the largest volumes of industrial output were recorded in Navoi region (205.7 trillion soums), Tashkent (158.4 trillion soums), and Tashkent region (147.7 trillion soums). The highest growth rates were shown by Jizzakh region (13.2%), followed by Samarkand region (9.4%) and Andijan region (9.1%). The lowest growth rates, at 7.2%, were noted in both Navoi region and Karakalpakstan Republic.

The average industrial output per capita across the country was 24.1 million soums, higher than 17.5 million soums the previous year. This indicator grew by 106.1%, corresponding to an increase of 6.1% in comparable prices.

Industrial output per capita exceeded the national average in Navoi region (184.4 million soums), Tashkent (49.6 million soums), and Tashkent region (46.5 million soums). Growth in production per capita above the national level was recorded in Jizzakh region (11.1%), Samarkand region (7.4%), and Andijan region (7.3%).

As of September 1, 2026, there were 65.3 thousand industrial enterprises in Uzbekistan. The largest group consisted of food producers with 13.2 thousand enterprises (20.2%), followed by producers of other non-metallic mineral products—9.2 thousand enterprises (14%), and clothing producers—6.7 thousand enterprises (10.3%).

Additionally, 5.4 thousand enterprises were engaged in finished metal product manufacturing, 4.5 thousand in furniture making, 4 thousand in textile production, and 3 thousand in rubber and plastic product manufacturing.

World Bank reports significant increase in the share of the middle class in Uzbekistan
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podrobno.uz

World Bank reports significant increase in the share of the middle class in Uzbekistan

The World Bank has presented data indicating a substantial increase in the proportion of the population belonging to the middle class in Uzbekistan during the period from 2021 to 2025. This share rose from 37% to over 72%.

Specifically, in the country's capital, Tashkent, the share of residents falling into the upper-middle class category reached 71.5%. The World Bank's analysis showed that over this period, the share of the upper-middle class in the republic increased from 8% to 31%, while the share of the lower-middle class grew from 29% to 41%.

Experts note that the growth rates in the capital were noticeably higher than in other regions of Uzbekistan. One of the key factors contributing to the expansion of the middle class is recognized as the growth in wages in the private sector.

Furthermore, Tashkent concentrates 29% of all official jobs in the country's private sector that require a high level of qualification.

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