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Uzbekistan reports growth of business activity in regions

Business Materials 18 February 2021 11:58
Uzbekistan reports growth of business activity in regions

BAKU, Azerbaijan, Feb. 18

By Klavdiya Romakayeva - Trend:

The volume of exports of goods in Uzbekistan since the beginning of 2021 increased by 7.1 percent compared to the same period last year, Trend reports citing the results of the analysis of the business activity in Uzbekistan’s regions published by the Center for Economic Research and Reforms (CERR).

The CERR monthly analyzes the business activity of the regions of Uzbekistan based on operational monitoring data in all regions of the county according to the data of the State Customs and Tax Committees, the Central Bank, and the Uzbek Republican Commodity and Raw Materials Exchange.

Thus, CERR reports that foreign trade relations of Uzbekistan with the main trading partners are being restored, and the activity of foreign trade is growing. This is evidenced by the growth of receipts from customs payments for the analyzed period by 35.3 percent compared to January last year. Most of all incomes increased in Jizzakh and Fergana regions (by 2.4 times).

According to the State Customs Committee, the volume of exports of goods since the beginning of the year has grown by 7.1 percent compared to the same period last year. Active growth in the volume of exports of goods among the regions was registered in the Navoi region - 4 times, Andijan region - 2.1 times, Jizzakh region - 95.5 percent, Syrdarya region - 80.8 percent, and Khorezm region - 70.9 percent.

The CER notes that a typical indicator of an increase in business activity is the volume of loans issued by commercial banks. Thus, in January of this year, this figure increased by 4.3 percent compared to the first month of the previous year. Also, the volume of repaid loans increased by 2.2 percent.

At the same time, the largest increase in the volume of issued loans was noted in the Surkhandarya region - 3.1 times, Namangan region - 2.8 times, Navoi region - 2.5 times, Kashkadarya region - 2.1 times, and in the Karakalpakstan Republic - 2.9 times.

Furthermore, the volume of transactions at the Uzbek Republican Commodity and Raw Materials Exchange increased by 40.5 percent compared to January last year.

It is noted that the growth of exchange activity was noted in all regions of the country, but first of all in Bukhara and Syrdarya regions - by 94.1 and 89.6 percent, respectively, and also in Tashkent - by 75.3 percent.

The CERR experts believe that the growth of business activity in the regions and in Uzbekistan as a whole was facilitated by the timely drastic measures taken by the country's leadership to support the economy and the population during the COVID-19 pandemic.

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Follow the author on Twitter: @romakayeva

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