The Year Began with Sustained Growth in Business Activity Across Uzbekistan’s Regions – CERR

Comprehensive monitoring of key business activity indicators across the regions of Uzbekistan shows growth across all major metrics.

According to оперативные данные from the Tax and Customs Committees, the Central Bank, and the Uzbek Republican Commodity Exchange, the Center for Economic Research and Reforms conducts ongoing monitoring of regional business activity in the Republic of Uzbekistan.
As of January this year, tax revenues demonstrated stable positive dynamics, increasing by 39.2% compared to the same period last year.
The most notable increase in revenues was recorded in the Syrdarya, Navoi, Khorezm, and Kashkadarya regions, where growth rates averaged approximately 49%.
Personal income tax revenues increased by 15.1%, property tax revenues by 19.6%, and land tax revenues by 20.3%.
Customs payments grew by 19.8% year-on-year. The highest growth rates were observed in the Navoi, Jizzakh, and Namangan regions, averaging approximately 67%.
Stable positive dynamics were also recorded in the Samarkand region and the Republic of Karakalpakstan, where revenues increased on average by 31%.
According to the analysis of foreign economic indicators, exports of goods increased by 19.5%. The most significant growth in export deliveries was observed in the Tashkent and Navoi regions, increasing on average by 47%.
At the same time, a notable expansion in lending activity was recorded. During the reporting period, the volume of loans issued by commercial banks increased by 2.7%. The highest growth was observed in the Samarkand, Bukhara, and Khorezm regions, averaging approximately 58%.
The active development of the private sector is confirmed by a significant increase in the number of newly registered business entities. In January 2026, a total of 7,116 new enterprises were registered. The largest number of new business entities was recorded in the city of Tashkent (1,712). Among the regions, the leaders were Tashkent region (735), Samarkand region (610), and Khorezm region (550).
The volume of transactions on the Uzbek Republican Commodity Exchange increased 1.8 times. Growth in exchange activity was recorded in most regions of the country, particularly in the Syrdarya region, where activity increased 11.1 times. In addition, growth was observed in the Khorezm, Surkhandarya, Bukhara, Jizzakh, and Kashkadarya regions, averaging 6.5 times.

Sultonmurod Ozodov,
Center for Economic Research and Reforms