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Economy 02/02/2009 Uzbekistan’s GDP increases by 9% in 2008
Central Bank of Uzbekistan
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan’s economy grew by 9% year-on-year in 2008 and inflation rate made up 7.8% last year, the Central Bank of Uzbekistan said.

Industrial output in the country comprised 12.7% year-on-year and agriculture production made up 4.5%.

Volume of rendered services in 2008 rose by 21.3% and its share in GDP reached 45.3%. Growth in trade and catering made up 26.8% and volume of financial service grew by 32.2%.

The bank said that the growth in fuel sphere made up 23.9%, machinery and metal processing - 23.5%, timber and cellulose industry - 19.8%, food industry - 28.2% and construction materials - 9.8%.

Production of consumer goods in Uzbekistan rose by 17.7%, including food products - 19.3% and non-food goods - 16.6%.

The Central Bank said that Uzbekistan harvested 6.7 million tonnes of grain and 3.4 million tonnes of cotton in 2008.

Total volume of utilized investments rose by 28.3% to 8.48 trillion soums.

Exports of Uzbekistan grew by 28.7% and its share in the GDP made up 69.2%. Uzbekistan had trade relations with over 164 countries. About 62.8% share of total turnover fell to share of Europe, 34.4% to Asia, 2.6% to Africa and 0.2% to Australia and Oceania.

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