TASHKENT (TCA) — Uzbekistan has maintained sustainable high rates of economic growth in the first half of this year, Uzbekistan’s official Jahon information agency reports with reference to data from the country’s Economy Ministry and State Statistical Committee.
Compared to the first half of 2015, Uzbekistan’s gross domestic product (GDP) increased by 7.8%, industry by 6.7%, agriculture by 6.8%, retail trade turnover by 14.1%, and construction by 17.5%.
Services grew 12.9% and their share in GDP increased from 57.1% in the first half of 2015 to 57.6%.
The country saw a positive balance of foreign trade, a state budget surplus in the amount of 0.1% to GDP, and a low inflation at 2.5 percent.
The share of manufacturing industries in the structure of industries increased from 77.5% in the same period of 2015 to 78.6%, which provided for a 80% growth for the whole industry in the 1st half of this year.
High growth rates of industrial production were recorded in sectors producing goods based on deep processing of raw materials, including chemical products, rubber and plastic products (29.9%), textiles, apparel and leather products (16.6%), food (13.9%), pharmaceutical products (24%), and building materials (13.9%).
This resulted in a significant growth of products with high added value, including polyethylene, polypropylene, production of household chemicals, centrifugal pumps, finished textile products, medicines and other finished products.
Lending to the economy by the country’s commercial banks increased by 26.2%, with 80% of all bank loans being long-term loans for investment purposes.
More than 23% of all capital investments utilized in the economy during the first half of this year were foreign investments and loans, whose volume compared to the same period of the previous year grew 17.2% and amounted to $1.8 billion, with direct foreign investments amounting to $1.2 billion.
