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.
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