22 August 2019

00:00:00 (GMT+5)

Tashkent +19,6 °C

Finance
23 Apr  2019 934

Service is the largest contribution to GDP growth

According to State Statistics Committee preliminary estimates, the GDP of Uzbekistan for January - March 2019 in current prices amounted to 91,097.7 billion soums and, compared with January - March 2018, increased in real terms by 5.3%. GDP per capita amounted to 2,734.4 thousand soums, which is 3.4% more than at the beginning of 2018.

At the same time, the index deflator of GDP in relation to prices in January-March 2018 was 120.4%, the committee reports.

The economic growth rate is due to the positive dynamics in the main sectors of the economy. The gross value added  by all sectors of the economy amounted to 88.7% of total GDP and increased by 5.2% (contribution to GDP growth - 4.5 percentage points). Net taxes on products amounted to 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%.

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