Tashkent, Uzbekistan (UzDaily.com) -- Experts of the Center for Economic Research and Reforms presented the dynamics of development of the electric power industry in Uzbekistan in 2017-2022.

The automotive industry is one of the most important industries in Uzbekistan and has been developing rapidly over the past six years.

The share of this sector in the country’s GDP increased from 0.6% in 2017 to 1.1% in 2022, and the share in Uzbekistan’s industrial output from 2.8% in 2017 to 4% in 2022. In 2017, about 23.5 thousand people were employed in this industry on average, and in 2022 it reached 29.2 thousand people, or an increase of 24.3%. In 2017-2022, the volume of car production increased 2.3 times.

Achieving the goals for the development of the automotive industry requires an active investment policy. So, in 2017-2022 investments were attracted to the industry totaling US$714 million, which allowed in 2019 to launch production of the ISUZU D-Max pickup truck and the MAN TGS 40.440 dump truck, and in 2022 to start production of the Chevrolet Tracker-2023 and CSS Prime turbo engines.

Despite the fact that the negative consequences of the pandemic and disruptions in production chains remain on the world car markets, in 2022 the volume of passenger car production in Uzbekistan increased sharply and reached 328.1 thousand units. Also in 2022, 4094 trucks and 1357 buses were produced.

Due to an active foreign economic policy, the development of trade relations and cooperation with neighboring countries, the dynamics of foreign trade in automotive products intensified in 2017-2022. In particular, if in 2017 the automotive industry exported products worth US$150 million, then in 2022 this figure reached US$358 million.