Uzbekistan’s foreign trade turnover reached $41 billion in the first half of 2026, up 7.4% year-on-year. Imports rose by 21% to $25.1 billion, while exports fell to $15.9 billion, causing the trade deficit to widen to $9.3 billion.China remains Uzbekistan’s largest trading partner and its main source of imports, accounting for about 32% of all …
Despite continuing exports of natural gas, petroleum products and electricity, Uzbekistan is becoming increasingly dependent on imported energy resources. Foreign trade statistics for the first half of 2026 show that the country’s spending on imported gas, oil, gasoline, coal and electricity was nearly three times higher than its export earnings from these resources. This trend …
Despite overall growth in industrial production in Uzbekistan, the fuel and energy sector continues to show worrying trends. Statistics for the first half of 2026 indicate that the increase in overall industrial output is taking place against a backdrop of continued declines in the production of natural gas, crude oil, gas condensate, and coal. Overall …
Growing air traffic through Central Asia and Russia’s restrictions on aviation fuel exports have drawn increased attention to Uzbekistan’s aviation kerosene supply needs. A report on the performance of Uzbekneftegaz presented to President Shavkat Mirziyoyev suggests that the authorities increasingly view the oil and gas sector not only as a source of raw materials but …
Uzbek President Shavkat Mirziyoyev held a major video conference on July 27 dedicated to the fuel and energy sector. During the meeting, he sharply criticized the industry’s performance, dismissed the minister of energy and the head of a major power distribution company, and warned other senior executives that they could also lose their jobs by …
Uzbekistan’s authorities have begun preparing a large-scale pension reform that could reshape not only how future pensions are built for millions of citizens, but also the structure of the country’s financial market. During a presentation to President Shavkat Mirziyoyev on July 14, officials discussed far more than another increase in pension payments or a technical …
Despite ongoing discussions about diversifying labor migration, Russia remains the main source of remittances to Uzbekistan. In the first quarter of 2026, the country received $3.8 billion in remittances from migrant workers, of which about $2.75 billion came from Russia. At the same time, new data from the Central Bank show that migration destinations are …
The Central Bank of Uzbekistan said it has strengthened oversight of compliance with consumer rights in the financial services sector. Following inspections conducted in the first quarter of 2026, the regulator identified violations at the microfinance organizations Shaffof-moliya and Tezcoin, as well as at Uzum Bank and Ipoteka-bank. “The Central Bank is carrying out systematic …
Uzbek President Shavkat Mirziyoyev on June 26 reviewed a presentation on measures to reduce the shadow economy and improve the effectiveness of prosecutorial oversight in this area. According to data presented at the meeting, the share of the unobserved economy has fallen from 35% to 23% over the past two years. During the same period, …
The government will increase salaries, pensions, scholarships and social benefits under Presidential Decree No. PF-115, signed on June 23, 2026. Some changes will take effect on July 1, while others will come into force on September 1. Pensions and benefits to rise by 7% from July 1 Starting July 1, 2026, pensions, social benefits, child …