Uzbekistan: Economy

Despite a challenging external environment, rising public investment buoyed economic growth in Uzbekistan at 8.0% in 2015. Trade contracted sharply, and the current account surplus narrowed. Growth is expected to slow to 6.9% in 2016, reflecting continued weakness in trade partners, before recovering to 7.3% in 2017 as the global outlook improves. Strengthening competitiveness in diverse markets will require further efforts to promote innovation. Read more from Asian Development Outlook 2016

Economic forecasts for Central Asian countries

Country 2016 2017
Armenia 2.0 2.3
Azerbaijan -1.0 1.0
Georgia 2.5 3.5
Kazakhstan 0.7 1.0
Kyrgyz Republic 1.0 2.0
Tajikistan 3.8 4.0
Turkmenistan 6.5 7.0
Uzbekistan 6.9 7.3
Average 2.1 2.8
Country 2016 2017
Armenia 3.8 4.0
Azerbaijan 12.0 5.2
Georgia 5.0 4.0
Kazakhstan 12.6 4.6
Kyrgyz Republic 10.0 8.0
Tajikistan 8.5 7.5
Turkmenistan 6.6 6.0
Uzbekistan 10.0 11.0
Average 10.8 5.9
Country 2016 2017
Armenia -5.2 -5.0
Azerbaijan -0.6 1.5
Georgia -9.5 -9.2
Kazakhstan -3.5 -3.1
Kyrgyz Republic -17.0 -15.0
Tajikistan -4.8 -5.5
Turkmenistan -12.3 -10.0
Uzbekistan 0.2 0.8
Average -3.9 -3.0

Source: Asian Development Outlook 2016