Tashkent, Uzbekistan (UzDaily.com) -- According to operational data, key economic indicators show positive dynamics: tax and customs revenues have increased, lending volumes have increased, trade turnover at the commodity exchange has increased, and the number of newly created enterprises has expanded. This indicates a revival of business activity and the restoration of sustainable economic growth in the country.

Analysis of business activity is calculated monthly based on operational data from comprehensive monitoring for all regions of the Republic of Uzbekistan. Data is provided by the Customs and Tax Committees, the Central Bank and the Uzbek Republican Commodity and Raw Materials Exchange.

A comprehensive approach makes it possible to analyze business activity in various sectors of the economy at the regional level, which makes it possible to assess trends and patterns in the development of entrepreneurship and identify key factors influencing economic dynamics in each region of the republic.

According to the results, the volume of tax revenues in May showed positive dynamics. Tax revenues rose 10.6%, indicating a recovery in business activity.

According to a study of the structure of tax revenues, income taxes increased by 19%, indicating an increase in employment and an increase in household income.

At the same time, property tax increased by 37%, such a significant increase is associated with the acquisition of new real estate and the increase in their value. Land tax also showed an increase of 32%. This significant increase is associated with the involvement of new land plots in economic circulation.

Receipts from customs duties increased by almost 19%. Such significant positive dynamics indicate the intensification of foreign economic activity in the country.

Thus, the greatest increase in customs revenues was observed in Kashkadarya and Jizzakh regions by 2.5 times. Significant growth was also noted in Bukhara region - by 70%; Khorezm and Navoi regions - by almost 40%; moderate growth was noted in the Samarkand region – about 20%.

The growth in customs revenues was due to an increase in the volume of imported products for a number of key commodity items, including positive dynamics noted in such categories as electrical equipment and its components, natural gas, petroleum products, pharmaceutical products, metal and metal products, technical equipment, as well as fruits and vegetables products.

Exports of goods have shown positive dynamics since the beginning of the year, increasing by 3.8% compared to the same period last year. The moderate improvement in export performance reflects the gradual recovery in economic activity.

The volume of lending issued by commercial banks showed positive dynamics in the analyzed period, which indicates increased business activity and increased access to loans for enterprises and the population.

Compared to the same period last year, there was an increase in this indicator by 5.7%. The top three regions in terms of growth in loans issued by commercial banks were Navoi region - 19.8%, Ferghana region - 11.3% and Namangan region - 5.2%.

The volume of transactions at the Uzbek Republican Commodity and Raw Materials Exchange during the analyzed period increased by 37.2%, which indicates a revival of exchange activity and increased interest on the part of market participants.

The most impressive growth in the volume of transactions was recorded in the Republic of Karakalpakstan – more than doubling. Similar high rates were noted in Syrdarya and Jizzakh regions.

A significant expansion of exchange activity was also noted in the Kashkadarya, Khorezm and Bukhara regions, on average 1.7 times. More moderate growth was demonstrated by Andijan, Namangan, Ferghana and Samarkand regions.

The growth in transaction volumes in these regions is ensured by increased sales of such goods as cotton fiber, industrial seeds, construction and household materials, diesel fuel, gasoline, wheat, etc.

In general, an increase in the volume of transactions on the commodity and raw materials exchange was observed in almost all regions of the republic.

During the analyzed period, about 34 thousand new business entities were created with an increase of 5.4%, which indicates a revival of business activity and the growth of entrepreneurial initiative in the country.

The largest number of new entities was registered in Tashkent - almost 7 thousand, which is more than 2 times the average for the republic.

Also, high rates of creation of new business entities were observed in such regions as Samarkand, Tashkent, Khorezm and Ferghana regions.

This positively characterizes regional business climates and reflects the geographic diversification of Uzbekistan’s economic development.