Tashkent, Uzbekistan (UzDaily.com) -- An analysis of business activity by regions of the Republic of Uzbekistan is monthly calculated by the Center for Economic Research and Reforms (CERR) based on operational data (monitoring for all regions of the republic, according to the State Customs Committee, State Tax Committee, Central Bank and UzEX).

The monitoring results showed that the volume of tax revenues of the republic in the period from 1 January to 30 September increased by 17.3% compared to the same period of last year.

At the same time, a significant increase in tax revenues was noted in Ferghana (by 39.5%), Samarkand (by 35.4%), Syrdarya (by 33.2%), Khorezm (by 32.7%), Bukhara (by 32, 2%) regions, in the Republic of Karakalpakstan (by 33.4%) and in the city of Tashkent (by 42.2%).

The increase in tax revenues in general for the period under review was influenced by a number of several growth factors at once.

Thus, budget revenues increased due to the expansion of the introduction of a system of electronic invoices, online cash registers, the introduction of a procedure for returning 1% of the purchase price to the population as a cashback, value added tax (an increase in revenues in the republic by 32%) and tax on turnover (49%).

As a result of increased economic activity and increased profitability, income tax revenues paid by payers increased by 38%.

Revenues from customs payments for the analyzed period increased by 40.3% compared to the same period in 2021. The largest increase in customs revenues was observed in Andijan (by 61.2%), Syrdarya (by 48.0%), Jizzakh (by 45.8%), Khorezm (by 45.1%) regions, in the Republic of Karakalpakstan (by 56.9%) and Tashkent (by 46.5%).

As the CERR analysis showed, the main factors that influenced the increase in revenue from customs duties were the growth in imports in January-August 2022 by almost 20% compared to the same period of last year.

According to the State Customs Committee, the volume of exports of goods from the beginning of the current year to 30 September increased by 25.5% compared to the same period of last year. A significant increase in the volume of exports of goods was noted in Samarkand (by 35.5%), Andijan (by 35.3%), Syrdarya (by 31.0%), Kashkadarya (by 29.2%), Namangan (by 29.1%) regions and in Tashkent city (by 55.3%).

The increase in Uzbekistan’s exports is due to the growing growth in exports of manufactured goods, foodstuffs, chemicals and agri-food products.

A decrease in the export of goods was observed in Surkhandarya (by 10.0%), Bukhara (by 5.4%) regions and in the Republic of Karakalpakstan (by 10.2%).

The decrease in exports in Surkhandarya region is associated with a decrease in the export of fruits and vegetables (beans, tomatoes, mung beans, onions) and yarn, and in Bukhara region - the direction of cotton fiber to the domestic market. In the Republic of Karakalpakstan - a reduction in the export of plastics, pharmaceutical products (from licorice root) and yarn.

The volume of loans issued by commercial banks in the period from 1 January to 30 September 2022 increased by 6.6% compared to the same period of last year.

A significant increase in the issuance of loans was noted in Ferghana (by 29.8%), Tashkent (by 24.0%), Samarkand (by 17.7%), Andijan (by 16.1%) regions, in the Republic of Karakalpakstan (by 18. 3%) and Tashkent city (by 11.3%).

The volume of transactions on the Uzbekistan Commodity Exchange for the analyzed period increased by 41.3%. A significant increase in exchange activity is observed in Khorezm (by 60.5%), Jizzakh (by 58.3%), Navoi (by 46.6%), Samarkand (by 46.1%) regions and in Tashkent (by 53 .6%).

Growth in the volume of transactions in these regions was ensured by an increase in the sale of such goods as mineral fertilizers, industrial seeds, motor gasoline, diesel fuel, construction and household materials, vegetable oil, wheat flour, wheat, sugar, cotton fiber, rolled ferrous and non-ferrous metals , polyethylene, polypropylene, ethyl alcohol, etc.

During the analyzed period, 70,563 new business entities were created, the largest number of which was registered in Samarkand (8,398), Kashkadarya (6,812), Ferghana (6,720), Tashkent (5,212), Khorezm (4,567) regions and in the city of Tashkent. Tashkent (11,700).