Uzbekistan Economy

Uzbekistan is an agro based country of west-central Asia. Uzbekistan have numerous irrigation canals, which are efficiently utilized to supply water for the cultivation of agricultural products like cereals, alfalfa, sesame and sugarcane. Agriculture is the backbone of the economy of Uzbekistan.
Textile industry of Uzbekistan is based on cotton, silk and wool. Traditional crafts like carpet weaving and silk dying are also playing a major role behind the growth of Uzbek economy.Cotton crop is the main agricultural product of Uzbekistan. It also contributes to a major portion of the country’s total exports.

Other agricultural products include rice, tobacco, sugarcane, sesame, grapes, fruits, alfalfa, cereals etc. Livestock are normally produced in the western side of Uzbekistan. Uzbekistan is abundant in mineral resources like coal, gold, tungsten, zinc, molybdenum, copper, lead, uranium etc.

Major industries in Uzbekistan are metallurgy, machine building, food processing, chemicals, fertilizer, building materials, textiles, petroleum, natural gas, petroleum, coal, minerals. Power industry in Uzbekistan is principally dependent on natural gas deposits, specifically western side of Uzbekistan.
More than twenty hydroelectric plants are operating in Uzbekistan to meet the demand of electric supplies in Uzbekistan.

In 2005, GDP (Gross Domestic Product) real growth rate of Uzbekistan was 7.3%.

Exports: Exports of Uzbekistan are primarily based on cotton, gold, energy products, minerals, fertilizers, ferrous metals, textiles, food products, and automobiles.

Imports: Uzbek imports are based on foodstuffs, machinery, equipment, chemicals, and metals.

Trading partners: Major trading partners are Russia, China, Turkey, Tajikistan, Kazakhstan, Bangladesh, South Korea, U.S., Germany, Ukraine .

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Last Updated on : 25th June 2013