Investment in Uzbekistan's fixed capital increased by 20.1% in 2026
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Investment in Uzbekistan's fixed capital increased by 20.1% in 2026

According to the National Statistical Committee, investment in fixed capital in Uzbekistan increased by 20.1% compared to the previous year, reaching 584.2 trillion soums for the period from January to September 2026. A large part of these investments was provided by non-state financing, and production accounted for the largest share of capital expenditures.

The total volume of investment over the nine-month period amounted to 584 trillion 154.2 billion soums. Foreign investments and loans reached 33.9 billion US dollars, equivalent to approximately 408 trillion soums, and were directed towards creating new fixed assets.

Financing Structure

Non-state sources provided 518.6 trillion soums, which accounts for 88.8% of the total investment volume. This figure showed an increase of 17.6% compared to the same period in 2025. Centralized investments amounted to 65.6 trillion soums, or 11.2% of the total amount, showing a year-on-year growth of 43.3%.

Of this centralized portion, 25.4 trillion soums came from the state budget, and the Reconstruction and Development Fund contributed 3.9 trillion soums. Additionally, 36.3 trillion soums were received as externally guaranteed state loans.

Among non-state sources, foreign investments and unsecured foreign loans made the largest contribution, totaling 371.7 trillion soums, or 63.6% of all fixed capital investments. Only foreign investments reached 270.6 trillion soums, accounting for 46.3% of the total volume and demonstrating a growth of 21.1% compared to the first nine months of 2025.

Enterprise financing amounted to 67.8 trillion soums (11.6% of the total volume), while household investments reached 71.6 trillion soums (12.3%). Commercial bank loans and other borrowed funds contributed 7.4 trillion soums, corresponding to 1.3% of the total volume.

Geography and Sectoral Structure of Investments

Investment activity was concentrated in Tashkent and several other regions of the country. The largest volume of capital investments was registered in Karakalpakstan at 94.8 trillion soums, followed by the Tashkent region with 61 trillion soums and the Namangan region with 60 trillion soums. The Samarkand region attracted 46.1 trillion soums, and the Fergana region received 46 trillion soums. Investments in the Navoi region reached 37.9 trillion soums, while the Surkhandarya and Bukhara regions received 34.5 trillion soums each.

The Andijan region recorded 33.6 trillion soums, the Kashkadarya region recorded 30.4 trillion soums, the Khorezm region recorded 25.2 trillion soums, and the Republic of Karakalpakstan recorded 22.6 trillion soums. In the Jizzakh region, investments amounted to 21.2 trillion soums, and in the Syrdarya region, they amounted to 19.4 trillion soums.

From the perspective of economic activity, production became the largest recipient of fixed capital investment, attracting 160.8 trillion soums, or 27.5% of the national total. The share of this sector increased by two percentage points compared to January-September 2025. Housing construction was second, receiving 87.1 trillion soums, which accounts for 14.9% of the total volume. Agriculture, forestry, and fisheries attracted 52.1 trillion soums (8.9%), while non-residential construction and infrastructure projects received 51.1 trillion soums (8.8%).

Investments in electricity supply, gas supply, steam, and air conditioning amounted to 39 trillion soums (6.7%). Mining attracted 33.9 trillion soums (5.8%), while transport and warehousing received 27.7 trillion soums (4.7%). Wholesale and retail trade, including vehicle and motorcycle repair, totaled 22.6 trillion soums (3.9%). Education received 12.7 trillion soums (2.2%), and water supply, sewerage, waste collection, and disposal attracted 12.2 trillion soums (2.1%).

Hotel business and food services, as well as information and communication services, received between 9.3 and 9.5 trillion soums. Total investments in healthcare and social services amounted to 7.7 trillion soums, followed by professional, scientific, and technical activities (6.1 trillion soums) and financial and insurance activities (5.4 trillion soums).

Distribution of Foreign Investments

Foreign investments and loans used from January to September 2026 reached 408 trillion soums, equivalent to 33.9 billion US dollars. Production accounted for the largest share of these funds—35.4%, followed by electricity and gas supply (19.7%). Mining and construction received 10.3% of foreign investments and loans each, while transport and warehousing received 8.4%. Agriculture attracted 6%, information and communication services attracted 5%, and water supply and sewerage attracted 2.2%. Healthcare received 1.7%, and other types of economic activities received the remaining 1%.

Regionally, Tashkent recorded the largest volume of foreign investments—47.9 trillion soums. The Namangan region ranked second with 31.7 trillion soums, surpassing the Tashkent region with 30.5 trillion soums, the Fergana region with 29.8 trillion soums, and the Samarkand region with 28.7 trillion soums.

New Housing and Infrastructure

In addition to investment data, the National Statistical Committee presented information on newly commissioned housing and communal infrastructure. In the first nine months of 2026, 12.6 million square meters of individual housing were commissioned in Uzbekistan, which is 13.1% more than in the same period of 2025. Of this total volume, 8.45 million square meters are located in rural areas.

The largest volume of new housing was commissioned in the Tashkent region—1.5 million square meters. The Andijan region followed with 1.26 million square meters, the Bukhara region with 1.25 million square meters, the Namangan region with 1.24 million square meters, and the Fergana region with 1.21 million square meters. The Surkhandarya region commissioned 1.08 million square meters, and the Khorezm region commissioned 1.21 million square meters.

The Jizzakh region added 645.4 thousand square meters, the Navoi region added 603.8 thousand square meters, and the city of Tashkent added 813.8 thousand square meters.

The country also commissioned 1104.6 kilometers of water pipelines during the reporting period. Of these, 1062.6 kilometers, or 96.2%, were built in rural areas. The Samarkand region provided the longest length of new water pipelines—575.1 kilometers. The Republic of Karakalpakstan contributed 198.8 kilometers, the Jizzakh region contributed 167.2 kilometers, the Fergana region contributed 92 kilometers, the Kashkadarya region contributed 45.6 kilometers, and the Andijan region contributed 25.9 kilometers.

Furthermore, from January to September 2026, 11.4 kilometers of gas pipelines were commissioned in Uzbekistan; all new gas pipelines were built in the Fergana region.

The National Statistical Committee clarified that fixed capital investment includes expenses for construction and installation works, the purchase of machinery, equipment, and vehicles, as well as other capital expenditures intended for the creation, expansion, reconstruction, or modernization of fixed assets. The Committee also noted that data for 2025 and earlier years may differ from previously published statistics due to subsequent recalculations.

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GDP in Uzbekistan grew by 8.3% from January to September 2026
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GDP in Uzbekistan grew by 8.3% from January to September 2026

According to data from the National Statistical Committee of Uzbekistan, the gross domestic product (GDP) of Uzbekistan reached 1,755.5 trillion soums at current prices for January-September 2026. This represents a real growth of 8.3% compared to the same period in 2025. Preliminary data was published on October 30, 2026.

Previously, figures for January-September 2022-2025 were adjusted to account for the results of population and agricultural censuses. For comparison, in the first nine months of 2025, GDP was 1,494.9 trillion soums with a growth of 8.0%, while in the same period of 2024, the economy grew by 6.1%, reaching 1,224.4 trillion soums.

The GDP deflator for January-September 2026 was 108.4% relative to the previous year. The highest growth rates were recorded in industry (112.1%) and other service activities (109.7%). Agriculture, forestry, and fishing were below the national average at 107.8%; trade and accommodation/food services were at 106.4%; construction was at 105.5%; and transport, storage, information, and communication were at 103.1%.

Gross value added across all sectors accounted for 95.9% of GDP and increased by 8.3%, contributing 7.9 percentage points to the overall GDP growth. Net taxes on products accounted for the remaining 4.1% of GDP, showing an 8.4% increase and contributing 0.4 percentage points to the growth increase.

Industry generated added value of 450.4 trillion soums, showing a growth of 8.1%. Trade and accommodation/food services provided 247.1 trillion soums, which is 15.1% more. Each of these sectors contributed 2.0 percentage points to GDP growth. Transport, storage, information, and communication brought in 135.4 trillion soums, increasing by 18.1% and adding 1.4 percentage points. Construction reached 140.2 trillion soums, increasing by 12.5%, and contributed 1.0 percentage point to the growth.

Other service activities added 448.5 trillion soums, increasing by 3.2% and providing 0.8 percentage points of GDP growth. Agriculture, forestry, and fishing generated 261.7 trillion soums, showing a growth of 4.6%, and contributed 0.7 percentage points. Compared to January-September 2025, the share of industry in the economy rose from 26.0% to 26.8%, while the share of construction increased from 8.2% to 8.3%. The share of services decreased from 49.6% to 49.4%, and the share of agriculture, forestry, and fishing decreased from 16.2% to 15.5%.

Industrial added value grew by 8.1% to 450.4 trillion soums. The main driver of growth was manufacturing, where added value increased by 8.6% to 373.1 trillion soums. Electricity, gas, steam, and air conditioning production grew by 10.1% to 29.8 trillion soums. Mineral extraction and quarrying increased by 3.1% to 44.4 trillion soums, while water supply, sewerage, waste collection, and disposal grew by 1.6% to 3.1 trillion soums.

The total volume of construction works increased by 12.5%, and added value in construction amounted to 140.2 trillion soums. Growth was observed in building and structures construction at 6.6%, civil engineering works at 29.0%, and specialized construction works at 33.1%. At the same time, the share of buildings and structures in the construction sector decreased from 75.3% to 71.3%. The share of civil construction increased from 16.2% to 18.1%, and the share of specialized construction works rose from 8.5% to 10.6%.

Added value in the service sector reached 831.0 trillion soums, which is 8.9% higher compared to last year. The fastest growth was demonstrated by communication and information services, which expanded by 21.6%, followed by trade with a growth of 17.3% and transport, storage, with an increase of 16.1%. Accommodation and food services grew by 11.2%, and other services by 3.2%.

Retail trade, excluding motor vehicle sales, accounted for the largest share of trade added value—48.3%, compared to 48.9% the previous year. Wholesale trade accounted for 40.1%, down from 40.3%, and wholesale and retail trade of motor vehicles and their repair accounted for 11.6% versus 10.8%.

Transport and storage accounted for 5.0% of GDP. Road transport held the largest share of added value in this sector—57.4%, compared to 55.0% the previous year. Auxiliary transport activities accounted for 18.1%, air transport for 8.7%, rail transport for 8.5%, and pipeline transport for 7.3%.

Agriculture, forestry, and fishing grew by 4.6%. Forestry increased by 5.0%, and crop and livestock production by 4.6%. GDP per capita reached 44.6923 million soums, which is 6.4% higher in real terms compared to the first nine months of 2025, when it was 38.7468 million soums.

The Information and Communications Technology (ICT) sector accounted for 2.7% of the economy, up from 2.5% in 2025 and 2.3% in 2024. The added value of this sector reached 45.5 trillion soums, up from 35.8 trillion soums the previous year and 23.7 trillion soums in 2024. Computer programming, consulting, and related services accounted for 54.0% of ICT added value. Communication services accounted for 29.2%, data hosting and processing, and web portals for 10.0%, software publishing for 4.2%, and computer and communication equipment repair for 2.6%.

Small businesses generated 904.8 trillion soums in added value, accounting for 53.8% of the total economy. Of this amount, services accounted for 46.7%, agriculture, forestry, and fishing for 27.0%, industry for 14.6%, and construction for 11.7%. Small businesses provided 93.2% of the added value in agriculture, forestry, and fishing, 75.4% in construction, 50.9% in services, and 29.4% in industry.

The share of the unobserved economy, including household and individual activities, as well as the shadow economy, was 21.8% of GDP, lower than the previous year's figure of 23.9%. By sector, the unobserved economy accounted for 57.6% of added value in agriculture, forestry, and fishing, 23.8% in services, 8.3% in construction, and 4.9% in industry.

Uzbekistan's agricultural production grew by 4.6% over nine months
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Uzbekistan's agricultural production grew by 4.6% over nine months

According to preliminary data from the National Statistical Committee, the total volume of production in agriculture, forestry, and fisheries in Uzbekistan increased by 4.6% compared to the same period last year, reaching 465.3 trillion soums for the period from January to September 2026. This growth was ensured by an increase in both crop yields and livestock farming.

The largest share of the sector's total volume was occupied by crop production, animal husbandry, hunting, and related services, which amounted to 416.3 trillion soums. Forestry contributed 41.3 trillion soums, and fisheries provided 7.7 trillion soums.

Crop production and animal husbandry together with related services showed a growth of 4.7% compared to January-September 2025. Meanwhile, forestry showed an increase of 5%, and fisheries grew by 1.2%.

The National Statistical Committee specified that the calculations for 2026 took into account the results of the population and agricultural census conducted as of January 15, 2026. This census is carried out in accordance with Presidential Decree No. UP-173 dated September 19, 2025.

Regional dynamics and absolute indicators

Regional indicators in agriculture varied: the fastest growth in combined production (agriculture, forestry, and fisheries) was recorded in the Syrdarya region, where the increase was 7.8%. It was followed by Namangan region with a growth of 6.2%, then Surkhandarya region (5.7%), Jizzakh region (5.1%), and Kashkadarya region (4.9%).

More moderate growth was noted in the Karakalpakstan Republic (3.6%), Andijan region (3.8%), Fergana region (3.9%), as well as in Tashkent and Khorezm regions, where the increase was 4% each.

In absolute terms, Tashkent region led the country in the volume of production in agriculture, forestry, and fisheries, which reached 53.8 trillion soums over the nine-month period. Samarkand region followed closely with 53.3 trillion soums, while Kashkadarya registered 46.2 trillion soums, Surkhandarya — 43.3 trillion soums, and Fergana — 41.7 trillion soums.

Production volume in Bukhara and Andijan regions amounted to 39.2 and 39.1 trillion soums, respectively. Jizzakh region showed 35.2 trillion soums, Namangan — 32 trillion soums, Khorezm — 27.8 trillion soums, and Navoi — 19.7 trillion soums. In the Karakalpakstan Republic, production reached 18.5 trillion soums, and in the Syrdarya region — 15.5 trillion soums.

Agricultural production details

Total agricultural production, including crops and livestock, in January-September 2026 amounted to 410.6 trillion soums, which is 4.6% more than in the corresponding period of 2025. Crop production reached 203 trillion soums, showing a growth of 6.9%, while livestock increased by 2.1%, reaching 207.6 trillion soums.

Samarkand region demonstrated the highest volume of agricultural production—46.6 trillion soums, followed by Tashkent region (44.6 trillion soums), Kashkadarya (42.6 trillion soums), and Surkhandarya (40.9 trillion soums). The lowest figures were recorded in the Syrdarya region (13.3 trillion soums), Karakalpakstan Republic (14.2 trillion soums), and Navoi region (17.9 trillion soums).

Syrdarya also noted the fastest growth in agricultural production—9%, followed by Namangan (6.6%) and Surkhandarya (5.6%). Lower growth rates were recorded in Samarkand region (3.4%), as well as in Tashkent region and Karakalpakstan Republic (both 3.7%).

The main contribution to agricultural production came from dehqan and household farms, which accounted for 62.3% of the total volume. Commercial farms contributed 26.7%, and agricultural enterprises — 11%.

During the first nine months of 2026, Uzbekistan produced 9.9 million tons of grain crops, which is 16.3% more than the previous year. Potato production grew by 6.6% to 3.56 million tons, and vegetables increased by 3.6% to 10.8 million tons. Additionally, the country released 2.87 million tons of melons and pumpkins, 3.31 million tons of fruits and berries, and 1.8 million tons of grapes; the respective categories showed growth of 4.5%, 4.1%, and 4.6%.

Among the main crop categories, grain showed the strongest growth at 16.3%, followed by raw cotton production (11.8%) and potatoes (6.6%). Kashkadarya region led in grain production with 1.03 million tons. Jizzakh region harvested 977,300 tons, Samarkand — 973,500 tons, and Surkhandarya — 966,200 tons. Samarkand became the largest potato producer, releasing 935,000 tons. Namangan followed with 344,000 tons, Fergana — 339,900 tons, and Andijan — 328,400 tons. Samarkand also led in vegetable production, harvesting 1.79 million tons. Fergana region produced 1.35 million tons of vegetables, Andijan — 1.33 million tons, and Surkhandarya — 1.08 million tons.

In grain production, commercial farms accounted for 70.6%, dehqan and household farms — 14.1%, and agricultural enterprises — 15.3%. Regarding potatoes, production was mainly provided by dehqan and household farms, which accounted for 68.6% of the national volume. Commercial farms contributed 27.7%, and agricultural enterprises — 3.7%.

A similar picture was observed in vegetable production: dehqan and household farms accounted for 60.6%, commercial farms — 33.4%, and agricultural enterprises — 6%. Dehqan and household farms also supplied the largest share of melons and pumpkins, fruits, berries, and grapes.

Livestock and fishery

Livestock reached 207.6 trillion soums in January-September 2026, which is 2.1% more than last year. Samarkand region recorded the highest volume of livestock products—24.35 trillion soums, followed by Kashkadarya (23.68 trillion soums) and Tashkent region (22.38 trillion soums). Surkhandarya produced products worth 19.82 trillion soums, and Bukhara — 19.36 trillion soums. The lowest figures were recorded in the Syrdarya region (4.72 trillion soums), Karakalpakstan Republic (7.39 trillion soums), and Navoi region (11.85 trillion soums).

Fergana region demonstrated the fastest growth in livestock at 3.9%, followed by Namangan (3.7%), Tashkent region (2.5%), and Surkhandarya (2.1%).

Meat production in live weight reached 1.92 million tons, which is 2.1% higher compared to January-September 2025. Dairy production grew by 1.7% to 7.38 million tons, and egg production increased by 7.5% to 7.48 billion eggs. Wool amounted to 32,200 tons, which is 6.2% more, and the number of karakul skins produced increased by 7.2%, reaching 938,000 pieces.

Fish catch reached 270,800 tons, corresponding to a growth of 5.8%. Dehqan and household farms remain the main producers of meat and milk, accounting for 78.3% of the live weight meat output and 87.9% of milk production. Commercial farms contributed 8.6% to meat production and 9.3% to milk, while agricultural enterprises accounted for 13.1% and 2.8%, respectively. Egg product distribution was more even: dehqan and household farms — 46.7%, agricultural enterprises — 35.9%, and commercial farms — 17.4%.

Dehqan and household farms also accounted for 74.3% of the country's wool and 66.8% of karakul skins. Commercial farms contributed 16% to wool production and 17.1% to karakul skins, while agricultural enterprises — 9.7% and 16.1%, respectively. In fisheries, dehqan and household farms accounted for 45.8% of production, agricultural enterprises — 29.6%, and commercial farms — 24.6%.

The National Statistical Committee noted that agricultural production statistics cover harvests and livestock from commercial farms, dehqan and household farms, as well as organizations engaged in agricultural activities.

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