Tashkent, Uzbekistan (UzDaily.com) -- Experts from the Institute of Macroeconomic and Regional Research (IMRI) analyzed the main factors of industrial production growth achieved over 9 months (January-September) 2023.

Industrial production increased by 5.7% in January-September. Almost all basic areas of industrial activity achieved positive growth rates, overcoming the decline noted at the beginning of the analyzed period.

The intensive recovery growth of industrial production was based on factors of timely support for enterprises through the introduction of various forms of preferences and additional investments.

The volume of investments allocated for industrial development increased to 113.2 trillion soums, which amounted to almost half (49.9%) of the total investment in the economy - this is 6.2 percentage points higher than in the corresponding period last year.

Including, the share of investments in the mining sector increased to 9.9% (+3.9 p.p.), manufacturing to 28.9% (+0.5 p.p.), energy supply to 7.9 % (+ 1.1 p.p.).

The use of direct and indirect regulatory instruments and the provision of targeted support to industries allowed:

stabilize production volumes in the mining sector (0.4%);

increase the intensity of growth in manufacturing output (6.4%);

maintain the dynamics of energy supply growth (8.9%).

The results of rating assessments based on a sample of industries that ensured positive rates of profit growth made it possible to determine the top 5 profitable areas of industrial activity. In these industries there was an increase in the share in the republican structure of profit before taxes:

production of motor vehicles, trailers and semi-trailers (+2.1 p.p.);

mining of metal ores (+1.5 p.p.);

beverage production (+2.1 p.p.);

production of construction materials (+0.7 p.p.);

clothing production (+0.3 p.p.).

At the same time, there is a deterioration in the financial situation of enterprises in the energy, gas and coal industries, associated with keeping tariffs at a low level.

The ongoing policy in industry is aimed at creating the necessary conditions for the further involvement of reserves for industrial growth and the transition to sustainable development. Priority tasks of the current period:

1. Increasing the financial stability of industrial enterprises by further improving the conditions for profit growth and cost reduction;

2. Activation of investment in projects using funds from the new Industrial Development Fund in order to: increase competitiveness, grow high-tech industries, build up industrial potential in the regions.