BAKU, Azerbaijan, Feb. 12
By Klavdiya Romakayeva - Trend:
The gross domestic product (GDP) of Uzbekistan at current prices in 2020 reached 580.2 trillion soums ($55.2 billion), which is 1.6 percent more than in the previous year, Trend reports with reference to State Statistics Committee of Uzbekistan.
According to the committee, the growth rate of real GDP averaged 5.2 percent, compared to 2017-2019 years, we will see that. It is noted that during the current COVID-19 pandemic, this figure fell to its lowest level for the first time.
Viewing the GDP by sectors of the economy in 2020, there were increases in agriculture, forestry and fisheries (3 percent), industry (0.7 percent), construction (9.2 percent) and services (0.1 percent).
At the same time, considering the influence of regions on GDP growth rates in the current period, high positive growth was noted in Navoi (7.1 percent), Namangan (4.8 percent) and Surkhandarya (4.4 percent) regions.
Earlier it was reported that according to Fitch Solutions rating agency, it is predicted the growth of real GDP in Uzbekistan will reach the level of 5.1 percent in 2021.
Fitch Solutions analysts explained that they raised the forecast because Uzbekistan will recover from the impact of the COVID-19 crisis this year.
“Despite significant shocks, the local economy has shown significant resilience during the coronavirus pandemic and is one of the few in the world to avoid a recession in 2020,” analysts said.
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