Asia > Uzbekistan > Economy

View full size

Agriculture > products cotton, vegetables, fruits, grain; livestock
Aid as % of GDP	2.4%		[65th of 129]
Debt > External	$3,927,000,000.00		[101st of 136]
Distribution of family income > Gini index	36.8		[22nd of 43]
Economic freedom	0.75		[150th of 156]
Economy > Overview Uzbekistan is a dry, landlocked country of which 11% consists of intensely cultivated, irrigated river valleys. More than 60% of its population lives in densely populated rural communities. Uzbekistan is now the world's second-largest cotton exporter and fifth largest producer; it relies heavily on cotton production as the major source of export earnings. Other major export earners include gold, natural gas, and oil. Following independence in September 1991, the government sought to prop up its Soviet-style command economy with subsidies and tight controls on production and prices. While aware of the need to improve the investment climate, the government still sponsors measures that often increase, not decrease, its control over business decisions. A sharp increase in the inequality of income distribution has hurt the lower ranks of society since independence. In 2003, the government accepted Article VIII obligations under the IMF, providing for full currency convertibility. However, strict currency controls and tightening of borders have lessened the effects of convertibility and have also led to some shortages that have further stifled economic activity. The Central Bank often delays or restricts convertibility, especially for consumer goods. Potential investment by Russia and China in Uzbekistan's gas and oil industry may boost growth prospects. In November 2005, Russian President Vladimir PUTIN and Uzbekistan President KARIMOV signed an "alliance," which included provisions for economic and business cooperation. Russian businesses have shown increased interest in Uzbekistan, especially in mining, telecom, and oil and gas. In 2006, Uzbekistan took steps to rejoin the Collective Security Treaty Organization (CSTO) and the Eurasian Economic Community (EurASEC), both organizations dominated by Russia. Uzbek authorities have accused US and other foreign companies operating in Uzbekistan of violating Uzbek tax laws and have frozen their assets.
Exports	$8,050,000,000.00		[87th of 189]
GDP	$17,178,420,000.00		[83rd of 203]
GDP > PPP	$48,514,000,000.00		[70th of 163]
GDP > Real growth rate	9.5%		[18th of 198]
GINI index	36.77		[23rd of 40]
Gross National Income	$13,820,900,000.00		[69th of 172]
Human Development Index	0.694		[112nd of 178]
Income category	Low income
Income distribution > Poorest 10%	1.2%		[101st of 114]
Income distribution > Richest 10%	32.8%		[41st of 114]
Population below poverty line	33%		[25th of 46]
Poverty > Share of all poor people	0.08 % of world's poor		[46th of 80]
Public debt	18.7 % of GDP		[96th of 121]
Tourist arrivals	253,000		[94th of 152]

Related links:

• Forum discussion > Economy
• Looking for Information on the U.S. Economy? Check out StateMaster
• Stay updated with current stat feeds! Subscribe to the Economy RSS / Atom feeds
•  Subscribe to our popular Economy factoids RSS / Atom feeds
• Save this page on  del.icio.us / furl / your bookmarks

More facts and figures on Uzbekistan