Uzbekistan Business Climate in 2025 Shows Strong Growth in Industry and Agriculture
The business climate in Uzbekistan is improving steadily in 2025, according to the latest report from the Center for Economic Research and Reforms (CERR) available to Kursiv Uzbekistan. Key economic sectors, including industry, agriculture, services and construction, are showing positive performance, with strong confidence among local entrepreneurs.
Business Confidence Reaches New Highs in Uzbekistan
The Composite Business Climate Index rose by 13 points year-on-year, reaching 61 in May 2025. This index reflects the overall health of the business environment based on surveys of over 1,000 enterprises across Uzbekistan.
- Current Business Conditions Index: +16 points (now at 49)
- Expectations Index: +9 points (now at 74)
These improvements indicate growing confidence in Uzbekistan’s economic direction, especially from private businesses and investors.
Industrial Sector Leads Economic Growth
The industrial sector in Uzbekistan saw the most significant improvement:
- Business Climate Index: +33 points (reached 70)
- Current Conditions Index: +41 points
- Expectations Index: +23 points (reached 79)
This data suggests a strong recovery in production, supply chains, and industrial demand, making it the top-performing sector in 2025.
Agriculture Shows Stable Growth with Moderate Outlook
The agricultural sector in Uzbekistan continues to grow:
- Business Climate Index: 58 (+6 points year-on-year)
- Current Conditions: 48 (+17 points)
- Expectations Index: Slight decrease to 68 (from 74)
Farmers and agribusinesses report solid current performance but remain cautious about the future due to external factors such as market volatility and weather patterns.
Services Sector Continues to Expand
Uzbekistan’s services sector also improved:
- Business Climate Index: 60 (+8 points)
- Current Conditions: 46
- Expectations Index: 76 (+13 points)
This increase shows growing consumer demand, especially in sectors like retail, IT services, and finance.
Construction Holds Steady Despite Seasonal Decline
While the construction sector remained stable overall at 57 points:
- Current Conditions dipped to 37 (due to holiday season)
- Expectations Index rose slightly to 79
Despite a short-term dip, construction companies remain confident in future contracts and infrastructure demand.
Why This Matters for Investors and CEOs
The Uzbekistan business climate in 2025 is favourable for both local entrepreneurs and foreign investors. With growing optimism in key sectors and consistent policy support, the country is becoming a more attractive destination for economic development.
The CERR Business Climate Index follows international methodology developed by Germany’s IFO Institute, ensuring reliable and globally comparable data.
