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Asia and Oceania
Uzbekistan |
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Last reviewed: 22 November 2007 |
Country information
ECONOMY
Basic Economic Facts
GDP: US$ 12bn (World Bank estimate for 2004.)
GNI per head US$450 (World Bank estimate for 2004)
Annual GDP Growth: 7.7% (World Bank estimate for 2004.)
Inflation: The World Bank estimate the figure for 2004 as being 15%
Major Industries: Gold, copper, zinc, lead, tungsten, uranium, molybdenum, natural gas reserves, coal and oil production, hydroelectric power.
Major trading partners: Russia, Germany, Switzerland, UK, Kazakhstan, Tajikistan, Korea, Japan
Foreign direct investment: US$ 140m (World Bank estimate for 2004)
Uzbekistan has substantial natural resources, including gas, oil, gold and silver. Agriculture is also important: Uzbekistan is the world's 3rd largest exporter of cotton. In the absence of substantive economic reform, the strength of the Uzbek economy is largely dependent on gold and cotton prices. Uzbekistan introduced currency convertibility and signed up to Article 8 of the IMF Charter in 15 October 2003, but in April 2004, the European Bank for Reconstruction and Development curbed its investment programme due to lack of progress by Uzbekistan on political and economic benchmarks set by the Bank. In recent years the Government has sought foreign investment in its hydrocarbon sector from companies from Russia and Asia.
There are few reliable statistics on the Uzbek economy.
Country information
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Contacts
Address:
Embassy of the Republic of Uzbekistan
41 Holland Park
London W11 3RP
Telephone:
(020) 7229 7679
Fax:
(020) 7229 7029
Email: info@uzbekembassy.org
Office hours:
Mon–Fri: 0900-1230 and 1430-1730
Mon, Wed, Fri: 1000–1300 (Consular)
Website: http://www.uzbekembassy.org/