Uzbekistan Oil production Uzbekistan Electricity production

Uzbekistan Economy

Economy - overview:uzbekistan is a dry. landlocked country of which 11% consists of intensely cultivated. irrigated river valleys. more than 60% of its population lives in densely populated rural communities. uzbekistan is now the world's second-largest cotton exporter. and fifth largest producer; it relies heavily on cotton production as the major source of export earnings. other major export earners include gold and oil. following independence in december 1991. the government sought to prop up its soviet-style command economy with subsidies and tight controls on production and prices. uzbekistan responded to the negative external conditions generated by the asian and russian financial crises by emphasizing import substitute industrialization and by tightening export and currency controls within its already largely closed economy. the government. while aware of the need to improve the investment climate. sponsors measures that often increase. not decrease. the government's control over business decisions. a sharp increase in the inequality of income distribution has hurt the lower ranks of society since independence. in 2003. the government accepted the obligations of article viii under the international monetary fund (imf). providing for full currency convertibility. however. strict currency controls and tightening of borders have lessened the effects of convertibility and have also led to some shortages that have further stifled economic activity. potential investment by russia and china in uzbekistan's gas and oil industry would increase economic growth prospects.

GDP (purchasing power parity) : $52.21 billion (2005 est.)

Inflation rate: 7.1% (2005 est.)

Labor force : 14.26 million (2005 est.)

Industries: textiles. food processing. machine building. metallurgy. gold petroleum. natural gas. chemicals

Uzbekistan

			Over view
			Geography
			People
			Government
			Economy
			Communications
			Transportation
			Militry

Uzbekistan More Facts

Electricity - production: 46.52 billion kwh (2003)

Oil - production: 152.000 bbl/day (2004)

Uzbekistan More Facts

Exports: $5.36 billion f.o.b. (2005 est.)

Imports : $4.14 billion f.o.b. (2005 est.)
Currency (code) : uzbekistani soum (uzs)