GDP of Uzbekistan shows moderate growth in 1Q18
Baku, Azerbaijan, April 16
By Fikret Dolukhanov – Trend:
Gross domestic product (GDP) of Uzbekistan reached 64.96 trillion soums in 1Q18, growing by 5.1 percent compared to 1Q17, the press office of the State Statistics Committee of Uzbekistan stated on April 16.
According to the report, the GDP deflator index in relation to prices made up 137.4 percent in 1Q2018.
GDP per capita amounted to 1.98 million soums, which is 3.3 percent more than in the corresponding period of 2017.
The gross added value (GAV), formed by all sectors of the economy, totaled 83.8 percent of the GDP and grew by 5 percent (contribution to GDP growth - 4.4 percent). Net taxes on products accounted for 16.2 percent of the GDP and increased by 5.3 percent (contribution to GDP growth - 0.7 percent).
Service sector made the largest contribution to GDP growth (2.2 percent), increasing by 4.4 percent compared to January-March 2017. Trade, accommodation and food services grew by 1.1 percent, transportation and storage, information and communication - by 7.1 percent and other services - by 4.6 percent.
The added value of the industry showed a 5.0-percent increase. A positive contribution to GDP growth from industrial production is estimated at 1.3 percent. The mining industry grew by 20.7 percent, manufacturing - by 1.8 percent and other industries - by 5.8 percent.
As a result of ongoing large-scale construction of multi-apartment residential buildings, as well as the implementation of investment projects for the construction and modernization of enterprises in the basic industries, the increase in the volume of construction work amounted to 12.2 percent. A positive contribution to GDP growth from the construction industry sector is estimated at 0.8 percent.
In January-March 2018, agriculture, forestry and fishery recorded growth at the rate of 1.8 percent, which contributed to 0.1-percent growth of the GDP.
The share of agriculture, forestry and fishery in the sectoral structure of GDP declined from 6.5 percent in January-March 2017 to 6.3 percent in January-March 2018. The share of industry increased from 29.1 percent to 34.8 percent, construction - from 7.4 percent to 7.6 percent.
The share of services in the sectoral structure of GDP in January-March 2018 was 51.3 percent, which is 5.7 percent less than in January-March 2017 (57.0 percent).
In January-March 2018, 78.8 percent of the total GDP volume falls to share of the non-state sector of the economy, 21.2 percent - to the state sector.
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