GDP, current US$ billion
GDP per capita, current US$
Life Expectancy at Birth, years (2018)
In 2017, the Government of Uzbekistan announced a radical opening and transformation of the country’s economy following more than 25 years of a relatively closed and state-dominated model.
Economic policy was reoriented to forge a competitive, market-led, private sector economy. Simultaneously, a series of social and political reforms have focused on reorienting the public sector to be responsive, citizen-centric, and centered on delivering high-quality public services for all citizens.
Commencing with an impressive series of measures to liberalize the foreign exchange market in 2017, the Government has enacted a series of structural reforms aimed at removing price controls, liberalizing the visa regime, easing trading restrictions and regulations to improve the business climate, and overhauling the tax system.
The Government’s vision is to transform Uzbekistan into an industrialized, upper-middle-income country by 2030. Achieving this vision will require a sustained reform effort to further increase the efficiency of resource allocation in the economy and take advantage of new, high-potential sources of economic growth and job creation.
In support of this vision, the Government has recently announced plans to modernize the agriculture sector, reduce its ownership of state-owned assets and enterprises, and address constraints in the financial markets.