Uzbekistani Economy, Uzbekistan Economy

Economy - overview: Uzbekistan is a dry, landlocked country of which 11% consists of intensely cultivated, irrigated river valleys. More than 60% of its population lives in densely populated rural communities. Uzbekistan is now the world's second-largest cotton exporter, a large producer of gold and oil, and a regionally significant producer of chemicals and machinery. Following independence in December 1991, the government sought to prop up its Soviet-style command economy with subsidies and tight controls on production and prices. Uzbekistan responded to the negative external conditions generated by the Asian and Russian financial crises by emphasizing import substitute industrialization and by tightening export and currency controls within its already largely closed economy. The government, while aware of the need to improve the investment climate, sponsors measures that often increase, not decrease, the government's control over business decisions. A sharp increase in the inequality of income distribution has hurt the lower ranks of society since independence.

GDP: Purchasing power parity - $43.99 billion (2004 est.)

GDP - real growth rate: 3.1% (2004 est.)

GDP - per capita: Purchasing power parity - $1,700 (2004 est.)

GDP - composition by sector: Agriculture: 38% industry: 26.3% services: 35.7% (2003 est.)

Population below poverty line: NA (2004 est.)

Household income or consumption by percentage share: Lowest 10%: 1.2% highest 10%: 32.8% (1998)

Distribution of family income - Gini index: 44.7 (1998)

Inflation rate (consumer prices):

Labor force: 14.2 million (2004 est.)

Labor force - by occupation: Agriculture 44%, industry 20%, services 36% (1995)

Unemployment rate: 0.5% plus another 20% underemployed (2004 est.)

Budget: Revenues: $2.176 billion expenditures: $2.207 billion, including capital expenditures of NA (2004 est.)

Industries: Textiles, food processing, machine building, metallurgy, natural gas, chemicals

Industrial production growth rate: 6.2% (2003 est.)

Electricity - production: 44.49 billion kWh (2001)

Electricity - production by source:

Electricity - consumption: 47.07 billion kWh (2001)

Electricity - exports: 3.998 billion kWh (2001)

Electricity - imports: 9.7 billion kWh (2001)

Oil - production: 142,700 bbl/day (2004 est.)

Oil - consumption: 142,000 bbl/day (2001 est.)

Oil - exports: NA (2001)

Oil - imports: NA (2001)

Oil - proved reserves: 297 million bbl (1 January 2002)

Natural gas - production: 63.1 billion cu m (2001 est.)

Natural gas - consumption: 45.2 billion cu m (2001 est.)

Natural gas - exports: 17.9 billion cu m (2001 est.)

Natural gas - imports: 0 cu m (2001 est.)

Natural gas - proved reserves: 937.3 billion cu m (1 January 2002)

Agriculture - products: Cotton, vegetables, fruits, grain; livestock

Exports: $2.83 billion f.o.b. (2004 est.)

Exports - commodities: Cotton 41.5%, gold 9.6%, energy products 9.6%, mineral fertilizers, ferrous metals, textiles, food products, automobiles (1998 est.)

Exports - partners: Russia 22.4%, China 9.3%, Ukraine 7.5%, Tajikistan 6.2%, Bangladesh 4.7%, Turkey 4.6%, Japan 4.3%, Kazakhstan 4.2%, US 4.1% (2003)

Imports: $2.31 billion f.o.b. (2003 est.)

Imports - commodities: Machinery and equipment 49.8%, foodstuffs 16.4%, chemicals, metals (1998 est.)

Imports - partners: Russia 22.3%, US 11.4%, South Korea 11%, Germany 9.5%, China 6.5%, Kazakhstan 6.1%, Turkey 6.1% (2003)

Debt - external: $4.384 billion (2004 est.)

Economic aid - recipient: $87.4 million from the US (2003)

Currency: Uzbekistani sum (UZS)

Currency code: UZS

Exchange rates: Uzbekistani sums per US dollar - 115.9 (2003), 125.3 (2002), NA (2001), 236.608 (2000), 124.625 (1999)

Fiscal year: Calendar year

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The information here has been derived from Public Domain Sources such as the CIA World Factbook. No liability can be taken for any inaccuracies.

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