BAKU, Azerbaijan, July 28. Uzbekistan's financial services sector generated 84.2 trillion soums (about $7 billion) in January–May 2026, marking a 24.9% increase compared with the same period last year.
The figures were released by Uzbekistan's National Statistics Committee.
According to the committee, Tashkent city remained the country's largest financial services hub, accounting for 48.7 trillion soums (around $4 billion), or nearly 58% of the national total during the five-month period.
The expansion comes as Uzbekistan's Ministry of Economy and Finance expects the economy to grow by 8.1% in 2026, with the services sector remaining one of the main drivers of economic activity under its 2027–2029 Fiscal Strategy.
Among the regions, Fergana ranked second with 4.2 trillion soums (approx. $347 million), followed by the Tashkent region with 4.1 trillion soums (about $338.7 million) and Andijan with 3.8 trillion soums (around $313.9 million).
Samarkand generated 3.2 trillion soums (approx. $264.3 million) in financial services, while Kashkadarya recorded 2.8 trillion soums (around $231.2 million).
Financial services totaled 2.4 trillion soums (about $198.2 million) each in the Bukhara, Khorezm, Surkhandarya, and Namangan regions.
Meanwhile, Jizzakh generated 2.3 trillion soums (approx. $190 million), Karakalpakstan recorded 2.1 trillion soums (about $173.4 million), and Navoi reported 2 trillion soums (around $165.2 million) in financial services.
The Syrdarya region posted the lowest volume among the reported regions, at 1.4 trillion soums (about $115.6 million).
According to Trend's analysis, Tashkent generated 48.7 trillion soums (around $4 billion), accounting for nearly 58% of Uzbekistan's financial services output, underscoring the capital's dominant position as the country's banking and financial center. At the same time, the combined output of Fergana, Andijan and Namangan reached 10.4 trillion soums (about 4859 million), highlighting the growing importance of the Fergana Valley as Uzbekistan's second-largest financial services market. The 24.9% increase in financial services significantly outpaces the government's projected 8.1% GDP growth for 2026, suggesting that financial intermediation is expanding faster than the broader economy. This reflects rising demand for banking, payment and other financial services as Uzbekistan continues implementing banking reforms and increasing private-sector participation in the financial system.
