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Economy 08/11/2011 Share of small businesses in GDP of Uzbekistan reach 50.5%
Share of small businesses in GDP of Uzbekistan reach 50.5%
Tashkent, Uzbekistan (UzDaily.com) -- Share of small business and private entrepreneurship in gross domestic product (GDP) of Uzbekistan grew from 48.5% in January-September 2010 to 50.5% in the same period of 2011, the joint statement of the Ministry of Economy of Uzbekistan and the State Statistics Committee of Uzbekistan said.

The statement said that the share of small business in industry in nine months of 2011 made up 20.7% (18.7% in nine months of 2010), exports – 16.2% (12.3%) and employment – 74.2% (73.6%).

The growth of industrial production in small business grew by 26.5%, which is much higher compared in average in industry.

The volume of issued loans by commercial banks to small and private businesses made up over3.1 trillion soums, including 613.3 billion soums of microloans, which grew by 1.5 times year-on-year.

From total volume of loans, allocated to businesses, 20.9 billion soums of soft loans were issued to remote and labor plentiful regions, 20.3 billion soums to graduates of professional colleges to create their own business and 251.9 billion soums to development of services.

In the reporting period, small businesses signed deals at exchange trades for 2.111 trillions soums with the growth of 1.3 times year-on-year, which made up 56% of total exchange turnover.

To ensure their production capacities, the small businesses purchased goods for 1.659 trillion soums through exchange trades (+21.8%) and realized own products for 451.7 billion soums (1.9 times).

In the reporting period, small and private businesses received 76 units of the state assets for 80.3 billon soums and US$67.9 million in the result of conducted works on selling and renting of objects and 13,820 unused state objects were rented.

Overall, over 33,000 new small business subjects were created in Uzbekistan in nine months of 2011.

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