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.
Iranian-made Yassin missiles were spotted mounted on Armenian Air Force fighter aircraft during Armenia's latest military parade on Thursday (28 May),...
The Philippines remains under a "severe threat" from China despite recent efforts by Washington and Beijing to ease tensions, Philippine Defence Secre...
Russia has recalled its ambassador to Armenia for consultations, citing Yerevan's growing rapprochement with the European Union. The move is seen as t...
At least 22 people have been killed - including children - and 35 others injured after a truck carrying Afghan returnees overturned in eastern Afghani...
U.S. Defense Secretary Pete Hegseth has urged Asian allies to increase military spending, warning of growing concern over China’s rapid military exp...
Iranian-made Yassin missiles were spotted mounted on Armenian Air Force fighter aircraft during Armenia's latest military parade on Thursday (28 May), drawing attention from defence observers and regional analysts.
The Philippines remains under a "severe threat" from China despite recent efforts by Washington and Beijing to ease tensions, Philippine Defence Secretary Gilberto Teodoro said on Saturday (30 May).
Russia has recalled its ambassador to Armenia for consultations, citing Yerevan's growing rapprochement with the European Union. The move is seen as the latest sign of deteriorating relations between the longtime allies ahead of Armenia's parliamentary election on 7 June.
Thai rescuers say five people have been pulled alive from a flooded cave in remote Laos, where seven villagers became trapped after heavy rain cut off access underground.
A group of Azerbaijani civil society organisations has called for increased scrutiny of Swiss building materials giant Holcim, citing court rulings and ongoing investigations linked to its subsidiary Lafarge's activities during the Syrian conflict.
The World Health Organization (WHO) says ongoing conflict, funding pressures and international travel restrictions are complicating efforts to contain a fast-growing Ebola outbreak in the Democratic Republic of Congo (DRC).
Iranian-made Yassin missiles were spotted mounted on Armenian Air Force fighter aircraft during Armenia's latest military parade on Thursday (28 May), drawing attention from defence observers and regional analysts.
Thai rescuers say five people have been pulled alive from a flooded cave in remote Laos, where seven villagers became trapped after heavy rain cut off access underground.
Iranian-made Yassin missiles were spotted mounted on Armenian Air Force fighter aircraft during Armenia's latest military parade on Thursday (28 May), drawing attention from defence observers and regional analysts.
Russia has recalled its ambassador to Armenia for consultations, citing Yerevan's growing rapprochement with the European Union. The move is seen as the latest sign of deteriorating relations between the longtime allies ahead of Armenia's parliamentary election on 7 June.
At least 22 people have been killed - including children - and 35 others injured after a truck carrying Afghan returnees overturned in eastern Afghanistan, local officials say.
A renewed wave of U.S. diplomatic activity in the South Caucasus highlights Washington’s growing focus on regional connectivity, trade and security, according to Associate Professor George Mchedlishvili of European University in Tbilisi.
Kyrgyzstan has signed a series of cooperation agreements with China and Belarus at the Fifth Forum of Regional Leaders of Shanghai Cooperation Organisation (SCO) member states, underlining the country's growing economic engagement within the regional bloc.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment