Share of services in GDP of Uzbekistan reaches 47.3% in 2017

Tashkent, Uzbekistan (UzDaily.com) -- Share of services in the gross domestic product (GDP) of Uzbekistan made up 47.3% in January-December of 2017, the State Statistics Committee of Uzbekistan said.

The volume of production of services exceeded 116.8 trillion soums in January-December 2017 and increased by 8.9% in 2017.

The increase in volume can be explained by the influence of a number of factors, in particular: the emergence of new types of services on the market, such as payment for goods through credit cards, Internet sales, opening of new shopping centers, catering organizations, hotels, expansion of educational services, entertainment industry.

Among the regions, the highest growth rates are observed in the city of Tashkent (+ 14.6%), Navoi (+ 7.0%), Syrdarya (+ 6.0%), Andijan (+ 5.6%), Khorezm (+5, 3%), Jizzakh (+ 5.2%), Namangan (+ 5.0%), the Republic of Karakalpakstan (+ 6.0%).

The largest share in development of the services sector fell to such regions as Tashkent (32.1%), Tashkent (7.9%), Samarkand (7.1%), Ferghana (6.5%), Andijan (5.7%) %), Kashkadarya (5.0%) regions.

The smallest share in total volume of services rendered is occupied by such regions as Syrdarya (1.4%), Jizzakh (2.1%), Navoi (2.6%), Khorezm (3.1%), Surkhandarya (3.8%) %) of the region, the Republic of Karakalpakstan (3.0%).

Continued implementation of measures to ensure the stability of the banking system, expanding lending to prospective investment projects, liberalization of foreign exchange policy has had an impact on increasing the volume of financial services.

In the volume of services for accommodation and food, services for provision of food and drinks prevail (84.6%). Residential services accounted 15.4%.

In the volume of communication and information services, telecommunications services (wireline and mobile services, Internet, satellite communication services, etc.) account for the largest share.

Today, the field of information and communication technologies (ICT) is one of the fastest growing in the world economy, being both an engine of economic growth and a sector that has already significantly changed and transformed economic processes in other industries and continues to influence the formation of a new type of economy based on knowledge, use of information and products of intellectual labor rights. At present, the ICT sector made up 2.2% of the GDP of Uzbekistan.

The largest part of transportation services is for transportation of goods and passengers by road. This is due to the mobility of transport and relatively low prices for the cost of services compared to air and rail.

It should be noted that the stable growth of the service sector, in turn, has a decisive impact on the level of employment of the population. To date, the service sector covers 49.7% of the employed in the economy.

Structural analysis of employment in service sector has shown that socially significant sectors, such as education, culture, art and science, trade and public catering, health care, take the largest share.

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