Uzbekistan’s GDP grew by 6.5% in 2024, as reported by the Presidential Statistical Agency. However, more than one-third of the country’s economic activity remains unobservable in official statistics. This portion of the economy, driven by informal and shadow sectors, significantly impacts the national output.
Preliminary estimates place Uzbekistan’s total GDP for 2024 at UZS 1.45 quadrillion (around $115 bn). This includes both the recorded and unobserved parts of the economy. The report provides a breakdown of GDP contributions from key sectors like industry, trade, and services. Additionally, it highlights the significant role of unobservable economic activities.
The shadow economy in Uzbekistan generated UZS 505.7 trln (approximately $39 bn) in 2024, accounting for 34% of the total GDP. This sector includes informal activities and those hidden from authorities to avoid taxes. It plays a prominent role in the economy and has widespread effects across different sectors.
The agricultural, forestry, and fishery sectors account for the largest share of shadow economic activity. Nearly two-thirds of economic output in these sectors occurs off the books. Similarly, 40% of economic activity in construction and service sectors remains unreported.
