Uzbekistan’s GDP grows by 5.3% in the first quarter
23/04/2019 18:46
Uzbekistan’s GDP grows by 5.3% in the first quarter
23/04/2019 18:46
Tashkent, Uzbekistan (UzDaily.com) -- According to preliminary estimates, the GDP of the Republic of Uzbekistan in current prices made up about 91.1 trillion soums in January - March 2019and, in comparison with January - March 2018, increased in real terms by 5.3%.
The GDP deflator relative to January-March 2018 prices amounted to 120.4%. GDP per capita amounted to 2.73 million soums, which is 3.4% more than in the corresponding period of 2018.
The economic growth rate is due to the positive dynamics in the main sectors of the economy. Gross value added (hereinafter - GVA), created by all sectors of the economy, accounted for 88.7% of total GDP and increased by 5.2% (contribution to GDP growth - 4.5 percentage points).
Net taxes on products made up 11.3% in the structure of GDP and showed an increase of 5.8% (contribution to GDP growth - 0.8 percentage points).
The largest contribution to GDP growth was made by the services sector (2.0 pp), which grew by 5.0% compared with the corresponding period of the previous year. From it, trade services (including repair of motor vehicles) increased by 4.2%, accommodation and food services - by 3.7%, transportation and storage - by 4.6%, information and communication - by 2.7% and other service industries - by 5.7%.
By industry, there is a 6.8% increase in value added. At the same time, a positive contribution to GDP growth from industrial production is estimated at 1.8 pp.
The positive dynamics in the industry was due to the growth of the added value of the mining industry and the development of quarries by 4.8%, the manufacturing industry by 7.6% and other industries by 5.5%.
According to the results of January-March 2019, the largest share in the structure of the gross value added of the manufacturing industry is in the metallurgical and metalworking industry (except for machinery and equipment) - 36.7%. The share of production of textiles, clothing, leather goods and related products was 14.6%, food, beverages and tobacco products - 13.6%, chemical products - 8.7%, rubber, plastic products and other non-metallic mineral products 8.4%, motor vehicles, trailers, semi-trailers and other transport equipment - 6.3%, electrical equipment - 2.8% and other manufactured products - 8.9%.
The volume of construction work, compared with the corresponding period of last year, grew by 5.9%. A positive contribution to GDP growth from the construction industry is estimated at 0.3 percentage points.
According to the results of January - March 2019, the agriculture, forestry and fisheries recorded positive growth rate of 2.5%.
The contribution of this industry to GDP growth was 0.4 percentage points. In January - March 2019, the GDP index-deflator was 120.4% relative to prices from the same period of 2018.
The highest values of deflator indexes in the structure of GDP are noted in industry - 138.2% and other services industries - 129.5%.
Deflator indices below the average national level were recorded in agriculture, forestry and fisheries - 114.8%, construction - 113.9%, trade, accommodation and food services - 112.3%, transportation and storage, information and communications - 111, 2% in net taxes on products - 92.7%.
Compared with the corresponding period of last year, the share of agriculture, forestry and fisheries in the sectoral structure of GDP decreased from 16.6% to 14.9%, construction - from 6.6% to 6.1%, while the specific industry weight increased from 30.3% to 33.9%.
The share of the service sector in the sectoral structure of GDP was 45.1% and, as compared with the same period of last year, decreased by 1.4 pp.
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