CERR: Uzbekistan recorded the maximum growth in business activity since the beginning of the year

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In July 2023, the Business Activity Index (BAI), calculated by the Center for Economic Research and Reforms, amounted to 1,218 points, and, compared with the previous month, increased by 21.8%.

There is also a 1.3 per cent increase in IDA compared to the same period last year.

The following changes were observed in the BAI components

The business activity index in July 2023 increased by 21.8% compared to the previous month and amounted to 1,218 points, which is explained by changes in the following components:

• the number of transactions on bank accounts of business entities increased by 5.3%;
• the component of operating business entities remained at the same level - 0.0%;
• the intensity of the purchase of raw materials on the commodity exchange increased by 48.0%;
• the component of trademarks increased by 25.0%.

In the regional context, the Kashkadarya region showed the highest growth

In July 2023, the Business Activity Index for 12 regions increased compared to the previous month. Kashkadarya (39.2%), Syrdarya (36.6%), Khorezm (26.7%) and Surkhandarya (26.1%) regions experienced significant growth (Fig.2).

At the same time, this index for the 2 regions decreased. In particular, there was a slight decline in the Jizzakh (-2.7%) region and the city of Tashkent (-0.6%).

TRANSACTIONS WITH BANK ACCOUNTS

The number of interbank payment transactions in July 2023 amounted to 5,321.2 thousand and increased by 268.5 thousand transactions (an increase of 5.3%) compared to June 2023.

The number of banking operations in 12 regions has increased.

In July 2023, the number of banking transactions between legal entities increased in 12 regions compared to the previous month. In particular, the most significant growth was observed in Andijan (13.4%), Surkhandarya (11.5%), Khorezm (11.2%), Samarkand (9.5%) and Namangan (8.9%) regions.

At the same time, a moderate decline was observed in the Jizzakh (-4.7%) and Syrdarya (-1.0%) regions.

ACTIVITY ON THE COMMODITY EXCHANGE

The component of operating business entities in July amounted to 1.4802, which means an increase in the component by 48.0% compared to the level of the previous month, which is due to an increase in the number of transactions almost 2 times. At the same time, the average physical volume of goods purchased in each transaction decreased by 3.7%.

At the UzEx, the total turnover in July amounted to 5,735.7 billion sums, which is 6.7% more than in the previous month.

ACTIVITY OF ECONOMIC ENTITIES

The component of operating business entities in July 2023 amounted to 0.9996, which means it means a slight decline of the component by 0.04% to the level of the previous month. In addition, this indicator has a negative value compared to the same period last year with a significant decline of 12.3%.

The number of operating business entities in July decreased by 1,195 units compared to June 2023 (505,454 units) and amounted to 504,259 units.

The number of large enterprises has increased significantly by 18 units.

During the reporting period, the number of small enterprises decreased from 411,058 to 409,988 units (a decline of 1,070 units). In addition, there is a decrease in the number of farms from 90,803 to 90,660 units, which is a decline of 143 units. The number of operating large enterprises amounted to 3,611 units, which is an increase of 18 units compared to June 2023.

BRAND REGISTRATION

In July 2023, the index of protected trademarks was 1.2500, which means an increase of 25.0% compared to the previous month. In July, 50 trademarks and trade names were registered by legal entities.

Changes in BAI components by the Republic of Uzbekistan and regions to the previous month

Regions	BAI	Component of account transactions	The UzEx stock component	Component of business entities	Component of new trademarks
Republic of Uzbekistan	↑1218	↑1,0531	↑1,4802	↓0,9996	↑1,2500
Kashkadarya region	↑1392	↑1,0637	↑2,0000	↓0,9983	↓0,0000
Syrdarya region	↑1366	↓0,9898	↑2,0000	↓0,9987	↓0,0000
Khoream region	↑1267	↑1,1122	↑1,1923	↑1,0058	↑6,0000
Surkhandarya region	↑1261	↑1,1147	↑1,4817	↓0,9924	↑2,0000
Fergana region	↑1190	↑1,0670	↑1,3811	↓0,9966	↑1,5000
Bukhara region	↑1187	↑1,0257	↑1,5287	↓0,9860	↓0,0000
Namangan region	↑1123	↑1,0886	↑1,3080	↓0,9939	↓0,0000
Republic of Karakalpakstan	↑1076	↑1,0170	↑1,0951	↑1,0114	↑2,0000
Samarkand region	↑1062	↑1,0947	↑1,0752	↓0,9953	↑1,0000
Navoi region	↑1056	↑1,0310	↑1,1123	↑1,0014	↑1,0000
Andijan region	↑1041	↑1,1342	↑1,0572	↑1,0074	↓0,0000
Tashkent region	↑1027	↑1,0735	↓0,8996	↓0,9994	↑2,4000
Tashkent	↓994	↑1,0438	↓0,9463	↑1,0059	↓0,9545
Jizzakh region	↓973	↓0,9529	↑1,0515	↓0,9952	↓0,0000

Changes in BAI components for the Republic of Uzbekistan and regions to the corresponding month of last year

Regions	BAI	Component of account transactions	The UzEx stock component	Component of business entities	Component of new trademarks
Republic of Uzbekistan	↑1013	↑1,0495	↑1,1200	↓0,8768	↓0,1466
Andijan region	↑1333	↑1,6329	↑1,4992	↓0,7342	↓0,0000
Namangan region	↑1238	↓0,7378	↑2,0000	↓0,8153	↓0,0000
Syrdarya region	↑1158	↓0,5040	↑2,0000	↓0,8265	↓0,0000
Tashkent	↑1144	↑1,1889	↑1,3040	↓0,9272	↓0,0843
Fergana region	↑1030	↓0,8265	↑1,3545	↓0,8616	↓0,3000
Republic of Karakalpakstan	↓971	↓0,7805	↑1,2197	↓0,9262	↓0,2000
Samarkand region	↓943	↓0,7384	↑1,1235	↓0,8644	↑1,5000
Surkhandarya region	↓937	↓0,6802	↑1,1238	↓0,8606	↑2,0000
Kashkadarya region	↓931	↓0,7063	↑1,2536	↓0,8271	↓0,0000
Tashkent region	↓920	↓0,9210	↓0,9928	↓0,8560	↓0,4138
Bukhara region	↓917	↓0,7605	↑1,1059	↓0,9490	↓0,0000
Navoi region	↓894	↓0,6912	↑1,0476	↓0,9236	↑1,0000
Khorezm region	↓859	↓0,7562	↓0,9040	↓0,9541	↓0,7500
Jizzakh region	↓750	↓0,6317	↓0,8321	↓0,8898	↓0,0000