Uzbekistan Services Sector Grows 16.1% in Q1 2026

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan’s market services sector grew by 16.1% in real terms in January–March 2026, reaching 293,605.1 billion soums, according to preliminary data. The figure reflects a stronger pace of expansion compared to the 12.6% growth recorded in the same period of 2025, when services totaled 239,905.6 billion soums.

The data may be further revised in subsequent statistical updates as additional information becomes available.

Tashkent remained the country’s main center of business activity, accounting for 40% of total services, or 117,306.2 billion soums. The capital also recorded a real growth rate of 118.4% compared with January–March 2025.

Among regions, the largest absolute volumes were recorded in Samarkand region with 21,620.4 billion soums (7.4% of the total), Fergana region with 19,803.0 billion soums (6.7%), Tashkent region with 19,767.9 billion soums (6.7%), and Namangan region with 14,833.1 billion soums (5.1%). Syrdarya region recorded 3,913.8 billion soums, or 1.3% of the total.

The highest real growth rates were observed in Khorezm region (117.0%), Samarkand (116.8%), Jizzakh (116.6%), Fergana (116.3%), Surkhandarya (116.3%), and the Republic of Karakalpakstan (116.6%).

On a per capita basis, services reached 7,664.0 thousand soums nationwide, compared with 6,377.0 thousand soums a year earlier, with real growth of 114.0%.

Tashkent again led with 36,807.7 thousand soums per person, up by 6,967.8 thousand soums year on year. Other relatively high indicators were recorded in Navoi region (6,361.8 thousand soums), Tashkent region (6,240.6 thousand soums), and Bukhara region (5,553.7 thousand soums). The lowest level was in Surkhandarya region at 3,197.9 thousand soums.

Small businesses continued to play a central role in the sector. They generated 168,125.2 billion soums in services, accounting for 57.3% of the total market. Their output increased by 116.5% compared with January–March 2025.

The highest shares of small business services were recorded in Fergana (75.9%), Surkhandarya (74.7%), Kashkadarya (74.2%), Tashkent region (73.9%), Andijan (73.4%), Namangan (73.4%), Bukhara (72.5%), Khorezm (71.6%), Jizzakh (70.3%), and Karakalpakstan (71.2%). In Tashkent, the share was lower at 43.6%, although the capital still accounted for the largest absolute volume at 51,116.6 billion soums. In Syrdarya region, the figure stood at 2,677.8 billion soums.

Key drivers of growth included trade, financial services, and transport. Trade services rose by 19.4%, contributing 4.9 percentage points to overall growth, while financial services increased by 22.4% (3.4 percentage points), and transport services by 13.2% (2.3 percentage points). Additional contributions came from accommodation and food services, ICT, education, and real estate operations.

In structure, trade accounted for 25.6% of total services, followed by transport (16.7%), financial services (15.9%), accommodation and food services (15.7%), ICT (7.8%), and education (3.8%).

Trade services reached 75,051.2 billion soums, up by 15,087.3 billion soums. Retail trade dominated the segment with 43.8%, followed by wholesale trade at 32.7%, and vehicle sales and repair services at 23.5%.

Transport services totaled 49,103.9 billion soums, with road transport making up 52.1% of the segment. Growth was supported by expanding trade, logistics, tourism, and e-commerce.

Financial services reached 46,796.4 billion soums, increasing by 22.4%. Financial intermediation accounted for 88.9%, insurance 6.8%, and auxiliary financial services 4.3%.

Accommodation and food services rose to 46,224.8 billion soums, with catering making up 95.7% of the segment. ICT services reached 22,827.9 billion soums, with software development accounting for 46.5%, forming the core of the expanding digital economy.

Education services totaled 11,023.8 billion soums, with higher education representing 40.1%. Real estate services reached 6,689.7 billion soums, while healthcare services stood at 5,419.2 billion soums, dominated by outpatient care, hospitals, and other medical services.

Overall, the data reflects sustained expansion in Uzbekistan’s services sector at the start of 2026, with increasing contributions from finance, trade, transport, and high-tech services.