BAKU, Azerbaijan, July 28
By Ilkin Seyfaddini - Trend:
Uzbekistan's GDP grew by 0.2 percent and made up 255 trillion soum ($24.9 billion) in the period from January through June 2020, Trend reports with reference to State Statistics Committee of Uzbekistan.
GDP per capita in the first half of 2020 increased by 1.8 percent, up to 7.5 million soum ($734.7) in the first half of 2020, compared to the same period of 2019.
The largest decline in the growth rate of gross added value was in the areas of transportation, storage, information and communications (by 3.2 percent), industry (by 1.9 percent), and in trade and services for accommodation and food (by 1.1 percent). Net taxes on food fell 1.3 percent, causing GDP to fall 0.1 percent in the first half of 2020, compared to the same period of 2019..
The industrial downturn led to a 0.5 percent decline in GDP of Uzbekistan. Analysts attribute this decline mainly to a 20.1 percent decline in mining, after a significant increase in the previous two years (5.6 percent and 35.9 percent for the same period of 2018 and 2019, respectively). This was influenced by a 23.9 percent reduction in crude oil and natural gas production.
GDP production increased in construction (by 7.3 percent), agriculture, forestry, fisheries (by 2.8 percent) and other services (0.3 percent).
Gross added value in service sector made up 89.7 trillion soum ($8.7 billion, 0.7 percent decrease) in the first half of 2020. This sector made a negative contribution to GDP growth and decreased by 0.3 percent, compared to the same period of 2019.
Transportation and storage services decreased by eight percent and accommodation and food services decreased by 17.4 percent. Trade services (including motor vehicle repair) grew by 0.7 percent, while information and communication services grew by 15.5 percent.
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