IAEA warns of possible drone attack near Ukrainian nuclear plant
The International Atomic Energy Agency (IAEA) said it has been informed of a potential drone attack near Ukraine’s Zaporizhzhya Nuclear Power Plant,...
Uzbekistan’s trade, accommodation, and food service industries maintained robust growth in the first quarter of 2025, with Gross Value Added (GVA) in these sectors reaching 39.1 trillion soums (approximately $3.8 billion), according to data from the National Statistical Committee.
This marks an 8.8% year-on-year increase in real terms, reflecting a steady expansion of the country’s services sector, which has become a vital engine of Uzbekistan’s broader economic development strategy.
The current growth builds on a multi-year upward trend:
Though annual growth rates have fluctuated slightly, the overall trajectory remains positive. After peaking at 107.2% in 2023, growth slowed modestly to 104.6% in 2024 before rebounding to 108.8% in the first quarter of 2025.
Economic Significance
The trade and hospitality sectors are increasingly integral to Uzbekistan’s economic diversification goals, especially as the country moves away from a traditional reliance on extractive industries. The expansion of these industries is also creating jobs, stimulating domestic consumption, and attracting private investment.
The government has prioritized improvements in business regulation, infrastructure, and digitalization to support continued development in services. Analysts suggest that if the current pace continues, Uzbekistan is well-positioned to expand its role as a regional hub for commerce and tourism in Central Asia.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
China's Ministry of Commerce announced Monday it will extend anti-dumping duties on specific stainless steel imports from the European Union, United Kingdom, South Korea, and Indonesia for an additional five years starting Tuesday, 1 July.
U.S. President Donald Trump has said he is not confident about reaching a trade agreement with Japan, warning that talks are unlikely to succeed before the 9 July deadline.
A court in Baku has ordered four months of pre-trial detention for all eight Russian citizens accused of trafficking drugs from Iran.
Israeli forces intercepted a missile launched from Yemen on Monday, prompting temporary airspace closures and sirens across several regions, according to the IDF and local media.
Uzbekistan and Azerbaijan launched their first interparliamentary forum in Khiva on July 1, marking a new chapter in bilateral legislative cooperation between the two countries.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment