| Economy | Uzbekistan |
 = Fields  = World Records  = Dictionary  = Bar graph  = Distribution map  = Fields History  = Definitions |
Economy - overview:
|
Uzbekistan is a dry, landlocked country; 11% of the land is intensely cultivated, in irrigated river valleys. More than 60% of the population lives in densely populated rural communities. Export of hydrocarbons, primarily natural gas, provided about 40% of foreign exchange earnings in 2009. Other major export earners include gold and cotton. Uzbekistan is now the world's second-largest cotton exporter and fifth largest producer; it has come under increasing international criticism for the use of child labor in its annual cotton harvest. Nevertheless, Uzbekistan enjoyed a bumper cotton crop in 2010 amidst record high prices. Following independence in September 1991, the government sought to prop up its Soviet-style command economy with subsidies and tight controls on production and prices. While aware of the need to improve the investment climate, the government still sponsors measures that often increase, not decrease, its control over business decisions. A sharp increase in the inequality of income distribution has hurt the lower ranks of society since independence. In 2003, the government accepted Article VIII obligations under the IMF, providing for full currency convertibility. However, strict currency controls and tightening of borders have lessened the effects of convertibility and have also led to some shortages that have further stifled economic activity. The Central Bank often delays or restricts convertibility, especially for consumer goods. Potential investment, primarily by Russia and China in Uzbekistan's gas and oil industry, as well as increased cooperation with South Korea in the realm of civil aviation, may boost growth prospects. In November 2005, Russian President Vladimir PUTIN and Uzbekistan President KARIMOV signed an "alliance," which included provisions for economic and business cooperation. Russian businesses have shown increased interest in Uzbekistan, especially in mining, telecom, and oil and gas. In 2006, Uzbekistan took steps to rejoin the Collective Security Treaty Organization (CSTO) and the Eurasian Economic Community (EurASEC), which it subsequently left in 2008, both organizations dominated by Russia. In the past Uzbekistani authorities had accused US and other foreign companies operating in Uzbekistan of violating Uzbekistani tax laws and have frozen their assets, but no new expropriations occurred in 2008-09. Instead, the Uzbekistani Government has actively courted several major US and international corporations, offering attractive financing and tax advantages, and has landed a significant US investment in the automotive industry. Uzbekistan has seen few effects from the global economic downturn, primarily due to its relative isolation from the global financial markets. |
GDP (purchasing power parity):
|
$94.04 billion (2011 est.)
$87.82 billion (2010 est.)
$80.99 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
|
$3,300 (2011 est.)
$3,100 (2010 est.)
$2,900 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
|
$43.7 billion (2011 est.) |
GDP - real growth rate:
|
7.1% (2011 est.)
8.5% (2010 est.)
8.1% (2009 est.) |
GDP - composition by sector:
|
agriculture: 21.9%
industry: 37.8%
services: 40.2% (2011 est.) |
Investment (gross fixed):
|
void |
Population below poverty line:
|
26% (2008 est.) |
Household income or consumption by percentage share:
|
lowest 10%: 2.8%
highest 10%: 29.6% (2003) |
Distribution of family income - Gini index:
|
36.8 (2003)
44.7 (1998) |
Inflation rate (consumer prices):
|
16% (2011 est.)
15% (2010 est.)
note: official data; based on independent analysis of consumer prices, inflation reached 38% in 2008 |
Central bank discount rate:
|
void |
Commercial bank prime lending rate:
|
void |
Stock of money:
|
void |
Stock of money - per capita:
|
void |
Stock of quasi money:
|
void |
Stock of quasi money - per capita:
|
void |
Stock of domestic credit:
|
$6.906 billion (31 December 2011 est.)
$5.995 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
246 USD per capita |
Stock of narrow money:
|
$5.49 billion (31 December 2011 est.)
$4.448 billion (31 December 2010 est.) |
Stock of broad money:
|
$8.31 billion (31 December 2011 est.)
$7.197 billion (31 December 2010 est.) |
Labor force:
|
16.28 million (2011 est.) |
Labor force participation rate:
|
57.88 % of population |
Labor force - by occupation:
|
agriculture: 44%
industry: 20%
services: 36% (1995) |
Unemployment rate:
|
1% (2011 est.)
1.1% (2010 est.)
note: officially measured by the Ministry of Labor, plus another 20% underemployed |
Unemployment, youth ages 15-24:
|
void |
Budget:
|
revenues: $14.97 billion
expenditures: $15.07 billion (2011 est.) |
Budget revenues per capita:
|
533 USD per capita |
Taxes and other revenues:
|
34.3% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
|
-0.2% of GDP (2011 est.) |
Public debt:
|
7.7% of GDP (2011 est.)
8% of GDP (2010 est.) |
Industries:
|
textiles, food processing, machine building, metallurgy, mining, hydrocarbon extraction, chemicals |
Industrial production growth rate:
|
8% (2010 est.) |
Electricity - production:
|
47.42 billion kWh (2009 est.) |
Electricity - production per capita:
|
1,686 kWh per capita |
Electricity - consumption:
|
40.1 billion kWh (2009 est.) |
Electricity - consumption - per capita:
|
1,426 kWh per capita |
Electricity - exports:
|
11.52 billion kWh (2009 est.) |
Electricity - imports:
|
11.44 billion kWh (2009 est.) |
Oil - production:
|
87,000 bbl/day (2010 est.) |
Oil - production per capita:
|
3,093 bbl/day per capita |
Oil - consumption:
|
104,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
1.35 bbl/year per capita |
Oil - exports:
|
2,078 bbl/day (2009 est.) |
Oil - imports:
|
9,013 bbl/day (2009 est.) |
Oil - proved reserves:
|
594 million bbl (1 January 2011 est.) |
Natural gas - production:
|
59.1 billion cu m (2010 est.) |
Natural gas - production per capita:
|
2,102 cu m per capita |
Natural gas - consumption:
|
45.5 billion cu m (2010 est.) |
Natural gas - consumption - per capita:
|
1,618 cu m per capita |
Natural gas - exports:
|
15.2 billion cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
1.841 trillion cu m (1 January 2011 est.) |
Agriculture - products:
|
cotton, vegetables, fruits, grain; livestock |
Current account balance:
|
$7.223 billion (2011 est.)
$5.784 billion (2010 est.) |
Current account balance - per capita:
|
257 USD per capita |
Exports:
|
$13.8 billion (2011 est.)
$12.01 billion (2010 est.) |
Exports per capita:
|
491 USD per capita |
Exports - commodities:
|
energy products, cotton, gold, mineral fertilizers, ferrous and nonferrous metals, textiles, food products, machinery, automobiles |
Exports - partners:
|
China 21.8%, Russia 18.1%, Turkey 14.5%, Kazakhstan 8.5%, Bangladesh 8.5% (2010) |
Imports:
|
$8.65 billion (2011 est.)
$8.06 billion (2010 est.) |
Imports per capita:
|
308 USD per capita |
Imports - commodities:
|
machinery and equipment, foodstuffs, chemicals, ferrous and nonferrous metals |
Imports - partners:
|
Russia 25.4%, South Korea 17.3%, China 13.9%, Germany 8.3%, Kazakhstan 5.3%, Ukraine 4.2% (2010) |
Reserves of foreign exchange and gold:
|
$11 billion (31 December 2011 est.)
$9.8 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
392 USD per capita |
Debt - external:
|
$4.435 billion (31 December 2011 est.)
$4.221 billion (31 December 2010 est.) |
Debt - external - per capita:
|
158 USD per capita |
Stock of direct foreign investment - at home:
|
$NA |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
$NA |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA (31 December 2010)
$715.3 million (#REF!) |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
soum (UZS) |
Exchange rates:
|
Uzbekistani soum (UZS) per US dollar -
1,714.1 (2011 est.)
1,587.2 (2010 est.)
1,466.7 (2009)
1,317 (2008)
1,263.8 (2007) |
Fiscal year:
|
calendar year |
|
= Fields = World Records = Dictionary = Bar graph = Distribution map = Fields History = Definitions |
|
Home 
Geographic Names
Chiefs of State
Intl. Organizations
Intl. Environmental Agree.
Other References
