Uzbekistan’s GDP makes up 249.17 trln. soums in 2017

Tashkent, Uzbekistan (UzDaily.com) -- Gross domestic product (GDP) of Uzbekistan, according to preliminary data, made up 249.17 trillion soums in current prices and grew by 5.3% compared to the corresponding period of 2016.

The index-deflator of GDP in comparison with the prices of 2016 was 18.9%, the State Statistics Committee of Uzbekistan said.

Based on the results of 2017, GDP per capita was 7.692 million soums, which is 3.6% more than in the previous year.

The rate of economic growth is due to the positive growth rates of the main industries of the national economy. The gross value added (GVA) produced by all sectors of the national economy was 89.8% of the total GDP and grew by 5.3% (contribution to GDP growth - 4.8 percentage points).

Net taxes on products were 10.2% in the GDP structure and demonstrated a similar increase of 5.3% (contribution to GDP growth - 0.5 percentage points).

The largest contribution to GDP growth was made by the services sector that grew by 6.9% compared to the previous year. Of this sector, trade, including accommodation and food service activities, grew by 3.9% (share in the GDP structure - 11.5%), transportation and storage, information and communication - by 8.9% (11.0%) and other services - by 7.3% (24.8%).

The added value of the industry showed an increase by 4.6%, which was 26.7% in the GDP structure. A positive contribution to GDP growth from industrial production is estimated at 1.1 percentage points Growth in the industry as a whole is ensured by the growth of the added value of the mining and quarrying (+14.6%) and manufacturing (+2.8%).

As a result of ongoing large-scale construction of multi-apartment residential buildings, individual housing for standard projects, engineering and transport communications, social infrastructure facilities, etc., the increase in the volume of construction work was 5.6%. In the structure of GDP, the share of construction was 6.8%. A positive contribution to GDP growth from the construction sector is estimated at 0.4 percentage points

In the past year, there was a positive growth rate also in agriculture, forestry and fishing at 2.0%. The share of this industry was 19.2% in the sectoral structure of GDP. Due to the growth of the agriculture, forestry and fishing sector, GDP growth was 0.4 percentage points

Share of the primary sector (agriculture, forestry and fishing) in the GDP structure rose from 18.1% in 2016 to 19.2% in 2017, the secondary sector (industry and construction) - from 32.9% up to 33.5%. And the share of the tertiary sector (service sector) in the GDP structure decreased from 49.0% to 47.3%.

In 2017, in the structure of GDP by forms of owner ship, 81.0% of the total volume falls to the non-state sector of the economy, 19.0% - to the state sector.

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