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, a large producer of gold and oil, and a regionally significant producer of chemicals and machinery. 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.

Agriculture
cotton, vegetables, fruits, grain; livestock

Airlines
Airlines in Asia
Airlines Worldwide

Airports
Airports in Asia
Airports Worldwide

Country Budget
revenues: $2.457 billion
expenditures: $2.482 billion, including capital expenditures of NA (2004 est.)

Currency (code)
Uzbekistani sum (UZS)

Currency Exchange Rate
Uzbekistani sums per US dollar - 1,020 (2004), 971.265 (2003), 771.03 (2001), 423.832 (2001), 236.61 (2000)

Fiscal Year
calendar year

GDP (Gross Domestic Product)
GDP (purchasing power parity): $47.59 billion (2004 est.)
GDP - real growth rate: 4.4% (2004 est.)
GDP - per capita: purchasing power parity - $1,800 (2004 est.)
GDP - composition by sector:
agriculture: 38%
industry: 26.3%
services: 35.7% (2003 est.)

Imports / Exports
Exports: $3.7 billion f.o.b. (2004 est.)
Exports - commodities: cotton 41.5%, gold 9.6%, energy products 9.6%, mineral fertilizers, ferrous metals, textiles, food products, automobiles (1998 est.)
Exports - partners: Russia 22%, China 14.7%, Turkey 6.4%, Tajikistan 6.1%, Kazakhstan 4.2%, Bangladesh 4% (2004)

Imports: $2.82 billion f.o.b. (2004 est.)
Imports - commodities: machinery and equipment 49.8%, foodstuffs 16.4%, chemicals, metals (1998 est.)
Imports - partners: Russia 26.8%, South Korea 12.6%, US 8%, Germany 7.7%, Kazakhstan 6.3%, China 5.8%, Turkey 5.1%, Ukraine 4.5% (2004)

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

Investing
Forex, Foreign Exchange Market: Currency Trading

Labor Force & Unemployment Rate
Labor force: 14.64 million (2004 est.)
Labor force - by occupation: agriculture 44%, industry 20%, services 36% (1995)
Unemployment rate: 0.6% officially, plus another 20% underemployed (2004 est.)