Information-analytical review “Economy of Uzbekistan” Ekonomika_engl | Seite 7

MACROECONOMIC INDICATORS
financial services market performance. As a consequence the financial and banking services
sectors grew by 23.8% and the amount of operations at commodity exchanges was 1.5 times
higher than that in 2006.
• consistent realization of the Program of services sector development and support to
entrepreneurship that envisages measures to extend soft loans to producers of services to
establish service facilities.
Growth rates in the services sector – 115.6% compared with 2006 – have outrun growth rates
in the production of goods -5.6%. Transport and communication services (115.1%) and trade and
public catering (122.1%) grew at the highest rates. Among commodity producing branches, industry
and construction sector developed at accelerated rates.
Despite this, the share of industry in the production structure of GDP continued to grow at a sus-
tainable rate (from 22.1% in 2006 to 24% in 2007) whereas the share of services and agriculture fell
by 0.1 and 2.5 p.p. but the share of taxes increased by 0.3 p.p.
Table 1.1.1
Main Macroeconomic Indicators in 2000-2007
(in % to the previous year)
2000 2001 2002 2003 2004 2005 2006 2007
GDP 103.8 104.2 104.0 104.2 107.4 107.0 107.5 109.5
GDP per capita 102.4 102.9 102.7 103.0 106.2 105.7 106.2 108.0
Population 101.3 101.2 101.2 101.1 101.2 101.1 101.3 101.5
Industrial production 105.9 107.6 108.3 106.0 106.4 107.2 110.8 112.1
Agricultural production 103.1 104.2 106.0 107.3 108.9 105.4 106.1 106.1
Export of goods and services 100.9 97.1 94.3 124.6 130.3 111.5 118.1 140.7
Investments in capital assets 101.0 104 103.6 104.8 107.3 105.7 109.3 125.8
Level of state budget execution (% of GDP) -1.0 -1.0 -0.8 -0.4 -0.4 0.1 0.5 1.1
Inflation rate (to December of the previous year) 28.2 26.6 21.6 3.8 3.7 7.8 6.8 6.8
Unemployment level (end of period, in %) 0.4 0.4 0.4 0.3 0.4 0.3 0.2 0.2
Source: State Statistics Committee of Uzbekistan
Agriculture, industry and services sectors have made major contributions to GDP growth in 2007.
This being said, while the contributions of the industrial and services sectors showed an upward
trend, the contribution of the agriculture sector went downward.
Table 1.1.2
Growth and Production Structure of GDP
Production structure of GDP
Construction
Agriculture
Services
sector
30.1
6.0
37.2
Period GDP growth to corresponding
period of previous year, % Industry 2000 103.8 14.2 2001 104.2 14.1 30.0 5.8 38.2 11.9
2002 104.0 14.5 30.1 4.9 37.9 12.6
2003 104.2 15.8 28.4 4.7 37.4 13.7
2004 107.4 17.5 26.4 4.8 37.2 14.1
2005 107.0 21.1 26.3 4.8 37.2 10.6
2006 107.5 21.8 25.1 5.1 37.9 10.1
2007 109.5 24.0 21.7 5.5 39.3 9.5
Net taxes
12.5
Source: State Statistics Committee of Uzbekistan
In the structure of used GDP the share of private consumption declined from 48.2% in 2006 to
47.1% in 2007 which resulted from an increase in the share of gross capital accumulation from
21.6% to 22.6% and net exports from 6.9% to 14.9%.
Uzbekistan Economy
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