BAKU, Azerbaijan, July 5. Uzbekistan’s retail trade turnover reached 210.2 soms ($17.5 billion) in January-May of 2026, marking a 20.7% increase compared to the same period last year.
This was reflected in the statement published by the National Statistics Committee of Uzbekistan.
The latest data shows the country’s consumer market maintained strong momentum, building on the 22.9% year-on-year growth recorded in the January-April period, when retail turnover totaled 165.9 trillion soms (about $13.8 billion).
Small businesses and private entrepreneurs continued to dominate the sector, generating 143.4 trillion soms (approximately $11.9 billion) in retail sales and accounting for 81.5% of total turnover. Their market share rose from 82.2% in 2025 to 81.5% this year, underscoring the central role of private enterprise in Uzbekistan’s domestic trade.
Large enterprises contributed 38.9 trillion soms (about $3.2 billion), with their share increasing to 18.5%, up from 17.8% a year earlier, a sign of growing consolidation and expanding formal retail networks.
Regionally, Tashkent city posted the fastest retail growth at 133%, followed by Karakalpakstan at 132.1% and Syrdarya region at 127.2%, reflecting stronger consumer demand and accelerating commercial activity outside the capital.
As of June 1, Uzbekistan had 88,686 registered retail trade enterprises, including 439 large companies and more than 88,200 small businesses and microfirms, highlighting the scale of entrepreneurial activity in the sector.
The data points to resilient domestic consumption in Uzbekistan, as rising incomes, urbanization and business formalization continue to support one of the fastest-growing retail markets in Central Asia.
The latest figures underline the continued strength of Uzbekistan’s consumer market, with retail trade remaining one of the main contributors to economic expansion. Although the annual growth rate moderated slightly from 22.9% in January-April to 20.7% in January-May, the sector is still expanding at a pace well above inflation, pointing to sustained household demand and improving purchasing power. The steady rise in turnover also reflects broader economic trends, including rising wages, stronger urban consumption and the growing penetration of formal retail channels, due to the latest data published by Trend.
At the same time, the structure of the market appears to be gradually shifting. While small businesses and private entrepreneurs continue to dominate, accounting for more than 81% of total turnover, the share of large enterprises increased from 17.8% to 18.5% over the year. This suggests a slow but notable consolidation of the retail sector, as larger companies expand their footprint through supermarkets, shopping centers and organized supply chains. Such a shift could improve efficiency, logistics and tax transparency, while also intensifying competition for smaller market players.
Regional data further highlights the uneven but broadening nature of retail growth. Strong performances in Tashkent city, Karakalpakstan and Syrdarya indicate that consumer activity is no longer concentrated solely in the capital, but is increasingly spreading across the regions.
"This trend may signal improving infrastructure, stronger regional incomes and greater access to goods and services outside major urban centers. Taken together, the figures suggest Uzbekistan’s retail sector is moving into a more mature phase of development, balancing rapid expansion with gradual structural transformation," the Trend's analysis showed.
