Uzbekistan's economy continued its steady growth in 2024, with GDP expanding by 6.5%, up 0.3 percentage points from the previous year, according to official data. The figures highlight the impact of ongoing economic reforms.

Industrial output rose by 8.2%, while agricultural production increased by 4.1%. The services sector grew by 9.3%, emerging as the main driver of economic expansion.

Foreign trade turnover reached $45 billion, with exports totaling $18.5 billion. Gold and foreign exchange reserves exceeded $38 billion, bolstering the country's financial stability.

Investment activity also saw a significant uptick: fixed capital investment grew by 12.4% to 250 trillion soums, with the private sector accounting for 78% of the total.

Economists note that these indicators confirm Uzbekistan's trajectory toward becoming a leading economic power in Central Asia. However, inflationary pressures and external market uncertainties remain key risk factors.

Source: uznews.uz