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ÖZBEKİSTAN

Global Trade Volume of Uzbekistan

As you learn about the stories of companies who have to withdraw from the Uzbekistan market, you will see how effective ‘local’ dynamics are on success or failure.

PraeGlobal was founded as a global company based in Uzbekistan. PraeGlobal offers consulting, design, engineering services, taking into account local dynamics.

Uzbekistan is the most populous country in Central Asia with a population of 31.3 million. The population is Young, the mean age is 24.7. The country is rich in raw materials (copper, zinc, gold, silver, tungsten, lead, and natural gas). In terms of consumption, it is potentially the largest market in the region. It is also the world’s fourth largest cotton producer and second largest exporter after the United States.

3% of Uzbekistan’s land consists of forest and forestry, 87% of desert and other land types. The remaining 10% is made up of areas suitable for agriculture. About 95% of the arable areas can be irrigated. This is the leading country in which irrigated agriculture can be made between the Central Asian republics.

Uzbekistan Economic Data YEARS
2012 2013 2014 2015 2016
Population (million) 29,7 30,2 30,6 31 31,3
Per capita GDP (USD) 1752 1890 2060 2153 2145
Per capita GDP (EUR) 1381 1454 1504 1940 1939
GDP (USD bn) 52,1 57,2 63 66,7 67,2
GDP (EUROn) 41,1 44 46 60,1 60,8
Economic Growth (GDP, % annual change) 8,2 8 8,1 8,1 7,8
Consumption (% annual change) 11 11,5 11,5 6,5
Investment (% annual change) 26,2 6,9 3,5 6,8
Financial Balance (% of GDP) 0,4 0,3 0,2 0,1 0,1
Public Debt (% of GDP) 7,6 7,7 8,8 9,4
Inflation Rate (consumer price index, annual change %) 11,9 11,7 9,1 8,5 8
Policy Interest Rate (%) 12 12 10 9 9
Exchange rate (USD vs) 1984 2202 2422 2810 3,218
Exchange rate (ABD Doları, aop) 1889 2092 2308 2,57 2965
Exchange rate (EUR) 2616 3034 2931 3052 3394
Exchange rate (EUR, aopvs) 2429 2780 3064 2852 3279
Current Account (% of GDP)) 1,8 2,9 0,7 0,1
Current Account Balance (USD bn) 0,9 1,6 0,5 0,1
Trade Balance (billion dolar) -6,1 -6,2 -7,9 -5,3
Export (billion dolar) 5,9 7,9 6,9 6,5
Imports  (billion dolar) 12 14 14,7 11,8
Export (% annual change) 2,4 32,7 -12,8 -4,8
Imports (% annual change) 10,7 17 5,1 -19,8
International Reserves (EUR)
International Reserves (USD)
External debt (% of GDP) 17,5 18,7 21,1 22,3

Traiding Qualities

  1. AGRICULTURAL & AGRIBUSSINESS

    Agriculture is an important sector in Uzbekistan, especially cotton, wheat cultivation, fruit and vegetable production as well as animal husbandry and silk insect husbandry is also dealt with. 59% of agricultural production consists of vegetable production and 41% consists of animal husbandry. The main product in the agricultural sector is cotton, which accounts for about 40 percent of total agricultural production. The experience gained from the agricultural policies from the Soviet Union period has been influential in Uzbekistan’s expertise in cotton production.

  2. MINING

    Russia committed itself to supplying natural gas for five years under the agreement it signed with Uzbekistan in March 2017. Meanwhile, Uzbek-China relations reached us $ 4.2 billion in bilateral trade in 2016. According to estimates, it is expected to rise to US $ 10 billion by 2020.

The country’s population was 20 million 702 thousand in 1991, 27 million 555 thousand in 2008 and 28.5 million in 2010. According to the forecasts of 2016, the population reached 31.3 million. In terms of population size, CAC countries are ranked third after Russia and Ukraine, while Central Asian countries are ranked first.

In Uzbekistan, which has a young population, 56% of the population is under the age of 25, 34% is under 15. 56.7% of the population engaged in economic activities are men and 43.3% are women. According to official figures, approximately 22,900 people are unemployed and unemployment rate is 0.1%.

Uzbekistan’s GDP growth has remained strong since the mid-2000s. The export goods of the country (copper, gold, natural gas and cotton) were effective. In 2014, the economy grew by 8.1%. This strong growth shrank slightly in 2015 (8%) and 2016 (7.8%). Growth is estimated at 7% in 2017 and 7.3% in 2018. These growth levels make Uzbekistan one of the most dynamic economies of the CIS.

The Government of Uzbekistan creates favorable conditions for attracting foreign investors. Investors, before investing in the field of consulting firms specializing in their work will be in their favor. If you intend to develop your business in Uzbekistan with high potential in the light of the above data, we are ready to support you as PraeGlobal, a partner branch in 142 countries, which is headquartered in 10 countries in Uzbekistan. To prevail over the laws of the present country and all economic facilities in the region, we will provide all kinds of support for your company and we will be with you with all consultancy services with our expert staff in the process of establishment of your company.

With PraeGlobal’s active staff, you will feel like you are at home even you are in abroad.

Contact Informations

Office 515, Building No. 77, Bobur Str. Tashkent City, Uzbekistan

+90 212 212 22 35 | +90 312 284 13 00 | +372 589 78198

www.praeglobal.com

info@praeglobal.com