Uzbekistan, the Engine of Central Asia: GDP Above USD 145 Billion and Exports Rising to USD 33.4 Billion – Embassy of the Republic of Uzbekistan in Italy

With a GDP exceeding USD 145 billion, exports of USD 33.4 billion up 23 percent, and gold reserves surpassing USD 60 billion, Uzbekistan enters 2026 with solid and steadily strengthening macroeconomic indicators. The Embassy of the Republic of Uzbekistan in Italy claims that the climate of confidence, reaffirmed in the State of the Nation Address delivered on 26 December by President Shavkat Mirziyoyev, is reflected in international trade data: total foreign investment has reached USD 43.1 billion, equal to 31.9 percent of GDP. This trajectory has also contributed to an improvement in the country’s sovereign rating, upgraded to BB by the leading international rating agencies.

For the current year, the Government forecasts economic growth of 6.6 percent, with GDP estimated at USD 167 billion. A total of 782 new industrial and infrastructure projects will be launched, with an overall value of USD 52 billion, including 228 large production facilities as early as next year. The focus will be on high value-added manufacturing, technology transfer, and productivity growth.

Special emphasis will be placed on the digital economy. In 2026, data centers, supercomputers, and artificial intelligence laboratories will be established across several regions of the country, with more than 100 projects deploying AI in healthcare, finance, agriculture, transport, and public safety. Uzbekistan has also launched, for the first time in its history, a program to deploy a national satellite and send the first Uzbek astronaut into space.

The 2026 plan includes strong support for the domestic market, with targeted investments in housing, services, tourism, and transport infrastructure. Approximately USD 1.9 billion will be allocated to mortgage lending, supported by public subsidies, while the services sector will benefit from more than USD 7 billion in loans and incentives.

In tourism, the goal is to double the number of foreign visitors over the next five years, bringing the sector’s value to USD 20 billion. To support this growth, Tashkent will invest in strengthening civil aviation, high-speed rail, and the road network.

The year 2026 will also mark a profound reform of the labor market and vocational training system, with at least 100 technical institutes to be upgraded in line with international standards. At the same time, the Government is accelerating the green transition: more than USD 157 million will be allocated to environmental projects, clean energy, sustainable mobility, and efficient water resource management.

On the institutional front, Uzbekistan will launch a new phase of public administration modernization through the complete renewal of the e-government platform, the expansion of digital services, and the strengthening of anti-corruption measures, declared a national priority for 2026.

In recent years, Uzbekistan has established itself as a platform for international dialogue and a key player in regional stability, hosting high-level events addressing major global issues, including the recent UNESCO General Conference, the Central Asia–European Union Summit, the International Climate Forum, and the Assembly marking the 150th anniversary of the Inter-Parliamentary Union. New agreements with the European Union, the United States, Japan, and the countries of Central Asia further reinforce a strategic positioning based on multilateral cooperation, economic openness, and connectivity between Europe, Asia, and the Caucasus.

The year 2026, declared the “Year of Mahalla Development and Social Prosperity,” will thus mark the beginning of a decisive phase for the “New Uzbekistan”: a country oriented toward innovation, inclusive growth, and integration into the major global economic and geopolitical flows.

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