Uzbekistan

DEVELOPMENT CHALLENGES 

Since acquiring its independence in 1991, Uzbekistan has experienced significant economic growth. Average annual GDP growth was 8.5% between 2006 and 2010. High positive growth was also maintained during the global economic crisis because of the low level of international integration of the financial sector. Uzbekistan has also recently changed status, from “low” to “lower-middle” income country, attaining a GNI per capita of US$1,280 in 2010. Yet the country only has a “medium” Human Development Index (HDI) with a value of 0.641 and is ranked 115th of 187 countries, which stems from several development challenges.

• Poverty, inequality, and heavy reliance on remittances
• Skills gap
• Weak governance and public administration

KEY TRADE ISSUES 

• Weak competitiveness and low productive capacity
• Market concentration and WTO accession
• Cumbersome regulatory and business environment
• Limited access to finance
• Underdeveloped physical and quality infrastructure

GOVERNMENT PRIORITIES 

The government priorities, defined in the National Welfare Improvement Strategy 2008-2010 (with monitoring perspectives to 2015), are to:

• Improve living standards based on robust and inclusive economic growth and through better governance;
• Form a modern and diversified economy able to compete in world markets;
• Comprehensively develop the whole country;
• Ensure a fair distribution of income; and
• Significantly improve the quality of services in education, health, and other socially significant sectors.

More detailed information on Uzbekistan can be found here.