Over 11,600 new small business enterprises created in Uzbekistan in 1Q

Tashkent, Uzbekistan (UzDaily.com) -- Implementation of the State program “Year of Small Business and Private Entrepreneurship” stimulated the creation of more than 11,600 new small business enterprises (excluding private farms) in January-March 2011.

According to the State Statistics Committee, in the reporting period the share of small business in the total volume of GDP reached 39% which is 1 percentage points more than in January-March 2010.

The share of small enterprises and microfirms in January-March 2011 made up 23.7% versus 23.1% in January-March 2010.

In January-March 2011 small business entities provided employment to 8.647 million persons (74.4% of total persons employed in the economy), including 7.002 million persons of the individual sector and 1.645 million persons of small enterprises and microfirms.

The number of persons engaged in the private sector of small business was 8.033 million or 92.9% of total employment in the sphere of small business.

The sector produced industrial products for 1.425 trillion soums (15.9% of total industrial production), or grew by 17.8% compared to the same period of 2010.

Small businesses utilized 984.5 billion soums of investments (30.1% of total utilized investments), which is 54.8% more compared to January- March 2010.

The sector executed construction works for 977.3 billion soums (65.1% of total construction works) or increased by 76% compared to January-March 2010.

Small businesses ensured the growth of freight turnover of motor transport by 7.4% (75.8% of total freight turnover) and passenger turnover - by 8.9% (86.2% of total passenger turnover);

The sector formed 49.1% (2.576 trillion soums) of total retail trade turnover of Uzbekistan (growth – 16.2%) and 36.1% (717.7 billion soums) of total paid services (growth – 13.3%);

Small business entities exported goods worth US$296.8 million (8.6% of total exports of Uzbekistan), grew by 35% year-on-year and imported goods for US$812.8 million (36.2% of total imports), which rose by 39.8% year-on-year.