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Uzbekistan's largest share in formation of GDP falls on Tashkent

Uzbekistan Materials 27 February 2021 21:18
Uzbekistan's largest share in formation of GDP falls on Tashkent

BAKU, Azerbaijan, Feb. 27

By Klavdiya Romakayeva - Trend:

The largest contribution to the formation of the gross domestic product (GDP) of Uzbekistan in 2020 was made by Tashkent city with a specific weight of 15.3 percent, Trend reports with reference to State Statistics Committee of Uzbekistan.

At the same time, Tashkent and Navoi regions occupy the next places with indicators of 10.8 and 8.4 percent, respectively.

It is reported that Syrdarya (2.1 percent), Jizzakh (3 percent) and Khorezm (3.6 percent) regions and Karakalpakstan Republic (3.7 percent) have the smallest share in the formation of the country's GDP.

Earlier it was reported that Uzbekistan's GDP at current prices in 2020 reached 580.2 trillion soums ($55.2 billion), which is 1.6 percent more than in the previous year.

According to the committee, the growth rate of real GDP averaged 5.2 percent, compared to 2017-2019. It was 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).

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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