Economy Uzbekistan
Economy - overview: Uzbekistan is a dry, landlocked country of which 11% consists of intensely cultivated, irrigated river valleys. More than 60% of its population lives in densely populated rural communities. Uzbekistan is now the world's second largest cotton exporter, a large producer of gold and oil, and a regionally significant producer of chemicals and machinery. Following independence in December 1991, the government sought to prop up its Soviet-style command economy with subsidies and tight controls on production and prices. The state continues to be a dominating influence in the economy and has so far failed to bring about much-needed structural changes. The IMF suspended Uzbekistan's $185 million standby arrangement in late 1996 because of governmental steps that made impossible fulfillment of Fund conditions. Uzbekistan has responded to the negative external conditions generated by the Asian and Russian financial crises by emphasizing import substitute industrialization and by tightening export and currency controls within its already largely closed economy. Economic policies that have repelled foreign investment are a major factor in the economy's stagnation. A growing debt burden, persistent inflation, and a poor business climate led to disappointing growth in 2001. However, in December 2001 the government voiced a renewed interest in economic reform, seeking advice from the IMF and other financial institutions.
GDP: purchasing power parity - $62 billion (2001 est.)
GDP - real growth rate: 3% (2001 est.)
GDP - per capita: purchasing power parity - $2,500 (2001 est.)
GDP - composition by sector: agriculture: 33% industry: 24% services: 43% (2000 est.)
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%: 3.1% highest 10%: 25.2% (1993)
Distribution of family income - Gini index: 33.3 (1993)
Inflation rate (consumer prices): 23% (2001 est.)