Uzbekistan’s economy expanded by an estimated 7.3% in 2025, according to preliminary UN calculations published in the report World Economic Situation and Prospects 2026.
The UN expects GDP growth to slow to 6% this year and to 5.9% in 2026. Inflation was estimated at 9% at the end of last year and is forecast to ease to 7.1% in 2026 and 5.6% in 2027.
UN experts said Uzbekistan along with Kyrgyzstan and Tajikistan continued to benefit from higher gold prices, large-scale infrastructure investment and the expansion of the tourism sector.
Over the first 11 months of last year, Uzbekistan exported almost $10 bn worth of gold. In December, gold prices surpassed $4,400 per ounce for the first time, driven by geopolitical tensions and strains in global trade.
Kursiv also reports that Uzbekistan’s gold and foreign exchange reserves surpassed $66.3 bn at the start of 2026.
