Uzbekistan Economy
Uzbekistan is a state in central Central Asia. The country has (2018) 33 million residents; The capital is Tashkent.
Business
Besides Kazakhstan, Uzbekistan is the economically most important country in Central Asia. In the 1990s, politicians took the path of a gradual transition from a planned economy to a market-based system. Compared to other transition countries, Uzbekistan experienced only relatively minor drops in gross domestic product (GDP) between 1990 and 1995. The economy has been growing rapidly since 1996. Privatization, the liberalization of the economy and the implementation of structural reforms are being promoted. President S. Mirsiyoyev tries to encourage foreign investment. Problem areas in economic development are the strongly pronounced shadow economy and corruption. Uzbekistan is one of the poorest countries in the CIS. 33.7% of the gross domestic product (GDP) is generated in the service sector, 24.7% in industry and construction and 30.1% in agriculture, forestry and fishing. Due to the trade surpluses and the money transfers from Uzbek labor emigrants, the country has had a surplus in the current account since 2006.
Foreign trade: Uzbekistan has an almost balanced trade balance. (Import value 2017: 13 billion US $, export value: 14 billion US $). Important export goods are energy / energy sources, metals, cotton fibers and textile products, vehicles, fruit and vegetable products and fertilizers. Imported goods are mainly machinery and equipment, chemical products / plastics and food. The main trading partners are Russia, Kazakhstan, South Korea, Turkey and China.
Agriculture
Only around 11% of the territory can be used for arable farming. 90% of the cultivated areas have to be irrigated artificially. The most important cultivation product is cotton. Uzbekistan is one of the largest cotton exporters in the world. The monoculture cultivation by means of extensive irrigation (high water loss through dilapidated canals), which was already practiced in Soviet times, led to serious ecological damage (soil salinization). Since 1996 the acreage of cotton has been reduced in favor of cereal cultivation (wheat, barley, rice and maize) in order to reduce the dependency on imports for the food supply. Other important crops are potatoes, vegetables, melons and grapes. In animal husbandry, cattle, sheep (especially Karakul sheep), goats and camels as well as poultry farming dominate. A long tradition has the sericulture.
Natural resources
According to ZIPCODESEXPLORER, Uzbekistan has numerous natural resources. The natural gas and oil reserves are developed in the Fergana Basin (Namangan, Fergana-Südrand) and in the Amudarja Basin (Gasli, Kagan, Mubarek, Taschli). Coal deposits (mainly lignite) can be found in the edge zone of the Fergana Basin. There are significant gold deposits near Muruntau and Nawoi. Uranium ore is mined in the Kyzylkum. Furthermore, copper, molybdenum, zinc, lead, iron, tin, tungsten and tungsten as well as kaolin, feldspar and sulfur are mined.
Energy industry
Uzbekistan is independent of energy imports. 79% of electricity is generated in thermal power plants (natural gas, oil and coal) and 21% by hydropower (power plants on the Tschirtschik River).
Industry
During the Soviet period, the Uzbek industrial structure was one-sidedly oriented towards cotton processing; the chemical industry (fertilizer production) and mechanical engineering (cotton processing plants) continued to have a certain importance, which are still important branches of industry today. In the foreground of industrial policy is the diversification of the industrial monostructure and the stronger development of oil and gas processing. Extensive foreign investments have been made in the automotive and automotive supply industries. The light industry (textile, clothing, food industry) continues to play a role. The most important industrial locations are next to the Fergana Basin (Fergana , Margilan , Andischan) and Tashkent, Samarkand and Bukhara.
Tourism
The places on the Silk Road are important for tourism, especially the cities of Samarkand, Bukhara and Khiva. There are four UNESCO World Heritage Sites in Uzbekistan. The inadequate tourist infrastructure has hitherto stood in the way of the increased economic importance of tourism. In 2015 the number of tourists was 1.3 million.
Transportation
The transport infrastructure is relatively well developed, but there is a great need for renovation and modernization. The road from Bukhara in the west to Tashkent in the east is also important for transit traffic. Some of the railway lines are electrified. In road traffic, the construction of tunnels on the Tashkent – Fergana Basin route is important, as this ensures a continuous connection even in winter. Shipping is only possible on part of the Amu Darya, there is an inland port in Termez. Uzbekistan has a network of natural gas and oil pipelines that is part of an interconnected network with neighboring countries in Central Asia, Russia and China. The domestic flight network is relatively dense. The main international airport is near Tashkent.
