Economy - overview Uzbekistan is a dry, landlocked country of which 11% consists of intensely cultivated, irrigated river valleys. More than 60% of its population lives in densely populated rural communities. Uzbekistan is now the world's second largest cotton exporter, a large producer of gold and oil, and a regionally significant producer of chemicals and machinery. Following independence in December 1991, the government sought to prop up its Soviet-style command economy with subsidies and tight controls on production and prices. The state continues to be a dominating influence in the economy and has so far failed to bring about much-needed structural changes. The IMF suspended Uzbekistan's $185 million standby arrangement in late 1996 because of governmental steps that made impossible fulfillment of Fund conditions. Uzbekistan has responded to the negative external conditions generated by the Asian and Russian financial crises by emphasizing import substitute industrialization and by tightening export and currency controls within its already largely closed economy. Economic policies that have repelled foreign investment are a major factor in the economy's stagnation. A growing debt burden, persistent inflation, and a poor business climate led to disappointing growth in 2001. However, in December 2001 the government voiced a renewed interest in economic reform, seeking advice from the IMF and other financial institutions.

GDP purchasing power parity - $62 billion (2001 est.)

GDP - real growth rate 3% (2001 est.)

GDP - per capita purchasing power parity - $2,500 (2001 est.)

GDP - composition by sector
agriculture: 33%
industry: 24%
services: 43% (2000 est.)

Population below poverty line NA%

Household income or consumption by percentage share
lowest 10%: 3.1%
highest 10%: 25.2% (1993)

Distribution of family income - Gini index 33.3 (1993)

Inflation rate (consumer prices) 23% (2001 est.)

Labor force 11.9 million (1998 est.)

Labor force - by occupation agriculture 44%, industry 20%, services 36% (1995)

Unemployment rate 10% plus another 20% underemployed (1999 est.)

Budget
revenues: $4 billion
expenditures: $4.1 billion, including capital expenditures of $NA (1999 est.)

Industries textiles, food processing, machine building, metallurgy, natural gas, chemicals

Industrial production growth rate 3.5% (2000 est.)

Electricity - production 44.075 billion kWh (2000)

Electricity - production by source
fossil fuel: 86.95%
hydro: 13.05%
other: 0% (2000)
nuclear: 0%

Electricity - consumption 41.89 billion kWh (2000)

Electricity - exports 4.1 billion kWh (2000)

Electricity - imports 5 billion kWh (2000)

Agriculture - products cotton, vegetables, fruits, grain; livestock

Exports $2.8 billion (f.o.b., 2001 est.)

Exports - commodities cotton 41.5%, gold 9.6%, energy products 9.6%, mineral fertilizers, ferrous metals, textiles, food products, automobiles (1998 est.)

Exports - partners Russia 16.7%, Switzerland 8.3%, UK 7.2%, Ukraine 4.7%, South Korea 3.3%, Kazakhstan 3.1% (2000)

Imports $2.5 billion (f.o.b., 2001 est.)

Imports - commodities machinery and equipment 49.8%, foodstuffs 16.4%, chemicals, metals (1998 est.)

Imports - partners Russia 15.8%, South Korea 9.8%, US 8.7%, Germany 8.6%, Kazakhstan 7.3%, Ukraine 6.1% (2002)

Debt - external $5.1 billion (2001 est.)

Economic aid - recipient approximately $150 million from the US (2001)

Currency Uzbekistani sum (UZS)

Currency code UZS

Exchange rates Uzbekistani sums per US dollar - 687.0 (January 2002), 325.0 (January 2001), 141.4 (January 2000), 111.9 (February 1999), 110.95 (December 1998), 75.8 (September 1997)

Fiscal year calendar year

NOTE: The information regarding Uzbekistan on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Uzbekistan Economy 2002 information contained here. All suggestions for corrections of any errors about Uzbekistan Economy 2002 should be addressed to the CIA.