Uzbekistan's GDP rises by 7.2 percent in the first half of the year

Uzbekistan’s GDP grew by 7.2 percent in the first half of this year, Deputy Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov announced today, September 9, during a parliamentary session.

According to him, industrial output increased by 6.6 percent, market services by 13.3 percent, construction works by 10.7 percent, and agricultural production by 4.0 percent. Investments in fixed capital amounted to 273.4 trillion soums, a 5.5 percent increase compared to the same period last year. It was also noted that the population’s real incomes grew by 9.5 percent.

It was reported that Uzbekistan’s foreign trade turnover reached $37 billion in the first half of this year, marking a 16.1 percent increase compared to the same period in the previous year. During the reporting period, state budget revenues were fulfilled at 103.4 percent, while expenditures amounted to 96.8 percent of the planned figure.

It was noted that in the first half of 2025, state budget revenues amounted to 144.2 trillion soums, which is 19.2 percent higher compared to the same period in 2024, with almost all tax targets fully met. State budget expenditures during the reporting period reached 173.3 trillion soums, an increase of 16.0 percent compared to the corresponding period of 2024.

In the first half of this year, 86.2 trillion soums were allocated from the state budget for social expenditures, which is 12.1 trillion soums more than in the same period of 2024. This accounted for 49.8 percent of total expenditures.

It was also reported that in the first half of 2025, 12.1 trillion soums in value-added tax (VAT) refunds were paid to taxpayers to cover negative differences. Due to measures aimed at bringing business entities out of the shadow economy and legalizing their activities, the number of VAT payers reached 230.4 thousand by the end of the reporting period, an increase of 7.7 thousand or 3.4 percent compared to the same period of 2024.