Center for Economic Research tells how coronavirus affected Uzbekistan’s macroeconomic indicators

BUSINESS 22:25 / 20.04.2020 660

Gross domestic product (GDP) compared with January-March 2019 in real terms increased by 4.1% and amounted to 110 517.8 billion soums. The consumer price index compared to December last year grew by 2.8%.

Industrial production increased by 4%, reaching 82,229.5 billion soums, and production of consumer goods by 11.2%, reaching 22,910.1 billion soums.

The output of agriculture, forestry and fisheries increased by 3.9%, reaching 25,228.5 billion soums.

At the same time, investments in fixed assets decreased, amounting to 89.5% of the level of the same period last year. The volume of construction work grew by 6.5%.

Retail trade turnover increased by 3.8%, and services provided – by 9.9% compared to the same period last year.

The foreign trade turnover of the republic in January-March 2020 amounted to $8.1 billion, including export – $3.37 billion, import – $4.76 billion.

The balance of foreign trade was negative (-$1,390.9 million).

For most of the first quarter, the economy of Uzbekistan did not experience the impact of restrictive measures in connection with the coronavirus infection, which accounts for the rather positive indicators of the first quarter for most items.

Nevertheless, measures to combat the pandemic taken by other countries have already negatively affected the results of foreign economic activity, since restrictive measures began to be applied by other countries much earlier.

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