According to the International Monetary Fund, Uzbekistan's gross domestic product amounted to $101.6 billion. This was reported by the information service of the Center for Economic Research and Reforms of Uzbekistan.
The results of the study conducted by the Statistics Agency of Uzbekistan and the International Monetary Fund at the Center for Economic Research and Reforms were discussed in expert and scientific circles. The main goal of the study is to discuss the results of the assessment of the size of the "unobserved economy" in Uzbekistan and to examine its impact on other macroeconomic indicators.
During the event, the results of calculations of the sizes of the informal and hidden economy and its impact on macroeconomic indicators were discussed. The assessment of the informal and hidden economy was conducted based on sample statistical observations and administrative data.
The study was conducted in 14 regions of Uzbekistan: in particular, in July-August 2023, a technical assistance mission of the International Monetary Fund (IMF) was involved. In the regions of the country, the expenditures of more than 7,000 households on living and food, transportation, culture, education, healthcare, and other services were studied based on a questionnaire.
Based on the collected data, the sizes of the informal and hidden economy and its impact on GDP by sectors and regions for 2017-2023 were assessed. This allowed determining the scale of the unobserved economy in the country and its impact on overall economic activity.
As a result of the sample statistical observations and calculations, the coverage of such macroeconomic indicators as GDP and GDP per capita was improved, and their compliance with international methodologies was ensured.
As a result of the calculations, the nominal GDP of Uzbekistan in 2023 increased by 125.6 trillion soums ($10.7 billion) and amounted to 1,192.2 trillion soums ($101.6 billion).
During the discussions, experts emphasized the importance of harmonizing data with international standards (IMF or World Bank methodology), which helps to compare data with other countries and use it for accurate analysis of economic indicators.
Among the Central Asian countries, Uzbekistan ranks second in GDP after Kazakhstan. Kazakhstan's GDP amounted to $226 billion at the end of 2023.
CentralasianLIGHT.org
August 1, 2024