|
Manufacturing gross value added structure.
2018 2019
Manufacturing - total
|
100,0
|
100,0
|
Food, beverage and tobacco product manufacturing
|
15,9
|
14,8
|
Manufacture of textiles, clothing, leather products and related products
|
15,2
|
13,8
|
Manufacture of wood and paper products; printing activities and duplication of recording media
|
2,5
|
2,0
|
Production of coke and oil products
|
1,8
|
2,3
|
Chemicalproduction
|
9,2
|
7,8
|
Manufacture of basic pharmaceutical products and preparations
|
1,2
|
1,1
|
Manufacture of rubber, plastic products and other non-metallic mineral products
|
12,4
|
10,5
|
Metallurgy and metalworking industry (except machinery and equipment)
|
27,8
|
34,8
|
Manufacture of computers, electronic and optical products
|
0,7
|
0,6
|
Manufactureofelectricalequipment
|
2,5
|
2,5
|
Manufacture of machinery and equipment nec
|
2,1
|
1,4
|
Manufacture of motor vehicles, trailers, semi-trailers and other transport equipment
|
5,7
|
5,7
|
|
|
|
Manufacture of other finished products; repair and installation of machinery and equipment
|
3,0
|
2,7
|
Table 3 11
The volume of construction work increased by 5.9% compared to the same period last year. The positive contribution of the construction sector to the absolute growth of GDP was 0.3 percentage points. assessed at the level of. In January-March 2019, there was a positive growth of 2.5% in agriculture, forestry and fisheries. The sector's impact on absolute GDP growth was 0.4 percentage points. In January-March 2019, the GDP deflator index amounted to 120.4% compared to prices in the corresponding period of 2018. The highest indicators of the GDP deflator index were recorded in industry (138.2%) and other services (129.5%).
Deflator indices below the national average are in agriculture, forestry and fisheries (114.8%), construction (113.9%), trade, accommodation and food services (112.3%), transportation and storage, information and communication (111.2%) and net taxes on products (92.7%).Compared to the same period last year, the share of agriculture, forestry and fisheries in GDP decreased from 16.6% to 14.9%, the share of construction from 6.6% to 6.1%, the share of industry to 30.3%. Increased by 33.9%.The share of the services sector in GDP was 45.1%, a decrease of 1.4% compared to the same period last year12
At the end of 2019, Uzbekistan's GDP grew by 5.5%. In 2018, the GDP growth rate was 5.1%, according to a statement from the Ministry of Economy and Industry (PDF). GDP growth was mainly driven by industrial growth of 6.4 percent (5.2 percent), construction by 11.8 percent (8.4 percent) and services by 6.1 percent (6.3 percent). The GDP per capita was $ 1,741 (in 2018 - $ 1,533). The contribution of the services sector to GDP growth was 1.9%, industry - 1.5%, agriculture - 0.9%, construction - 0.6%, private taxes - 0.6%.
As of January 6, 2020, GDP growth was 5.5 percent
In one year, Uzbekistan's GDP grew by 5.5%. This is higher than in 2018, but the GDP per capita is far behind the world average.
At the end of 2019, Uzbekistan's GDP grew by 5.5%. In 2018, the GDP growth rate was 5.1%, according to a statement from the Ministry of Economy and Industry. GDP growth was mainly due to 6.4 percent (5.2 percent) growth in industry, 11.8 percent (8.4 percent) in construction, and 6.1 percent (6.3 percent) in services. The GDP per capita was $ 1,741 (in 2018 - $ 1,533).The contribution of the services sector to GDP growth was 1.9%, industry - 1.5%, agriculture - 0.9%, construction - 0.6%, private taxes - 0.6%13.
"Despite the results achieved, the GDP per capita is significantly behind the world average, and given the demographic situation, the low level of the economy, limited savings and incomes," he said. Ministry of Economy and Trade.
The persistence of strong demographic pressure in the labor market and the corresponding creation of sufficient jobs will make it difficult to address the problem of reducing unemployment, the statement said.
According to the Ministry of Economic Development, the main reasons for this situation are:solving the problems associated with structural changes, international experience shows that it takes longer;the problems of forming a market economy of a fundamental nature, in particular, the attitude to property, the de-monopolization of markets, and the formation of inclusive institutions in the political, economic, and social spheres, have not yet been fully resolved.
Revenues of the state budget and state trust funds in 2019 amounted to 137 trillion soums (26.1% of GDP) or 27% more than in 2018 (108 trillion soums). The combined budget expenditures (state budget and trust funds) in 2019 amounted to 144.7 trillion soums (27.6% of GDP) or 37% more than in 2018. Of this, the state budget expenditures - 117.8 trillion soum.This is 12.2 trillion soums more than the approved expenditures. According to operative data, the growth rate of investment in 2019 was 128.6%, or $ 21 billion.
“In today's conditions, industrial enterprises, entrepreneurs and exporters expect clear and effective measures from us. Therefore, the main task of the government should be to create reserves and ensure macroeconomic stability to compensate for the losses in the economy”14
Tasks have been set to provide tax breaks and credit incentives to the sectors of the economy most affected by the coronavirus, and to allocate budget loans.
For example, the ability to repay loans worth 90 billion soums in the hotel business, 650 billion soums in the transport and logistics sector, 180 billion soums in catering establishments, and 3.6 trillion soums in foreign trade enterprises is declining. Travel agencies and hotels charge a tourist fee of $ 2-3 per tourist per day. Therefore, it was instructed to extend the terms of loans of these enterprises, to suspend the collection of tourist fees. Governors are empowered to delay the collection of local taxes from businesses facing economic hardship for up to 6 months. The income tax for individual entrepreneurs and the water tax for farmers will also be reduced by 50%. In this case, the losses in the local budget will be covered from the national budget. A moratorium on tax inspections will be announced by the end of the year, and the calculation of penalties for tax arrears on troubled businesses will be suspended. In such a difficult situation, the entrepreneur is not bothered by any inspector. Given the situation in international trade, it was instructed not to impose penalties for overdue exports and imports, to increase the flow of goods through the "green corridor", to promptly resolve issues arising in the transportation.
- In the current situation, it is natural that the tax base of some companies will decrease. But officials need to have a daily analysis and inquiry on how to cover this shortfall, ”15
Thus, our country is rapidly increasing its GDP and moving towards the world's leading economies, such as the United States.
Conclusion
I do not know what lay behind this response, it isn’t unreasonable to think that people do not see the reality of their lives reflected in the official picture painted by statistics such as GDP. If inequality increases enough relative to the increase in average GDP per capita, most people can be worse off even though average income is increasing. GDP is one of the most widely used concepts in modern societies; it makes a regular appearance in media headlines, public discussions and debates by politicians. While it does a good job at measuring the output of the economy (and how fast or slowly it is growing), even one of its pioneers understood that it was not a measure of welfare. There are also aspects of quality of life not captured by income, consumption and wealth.
While GDP does areasonable job of measuring the marketable output of theeconomy (which remains important for some policies),it does not measure well-being, and therefore it shouldbe downgraded, with more attention given to measures that reflect a wider range of objective and subjectivemeasures of well-being, as well as measures that betterreflect the heterogeneity of peoples’ experiences. GDP is a measure of economic output. Even though GDP was never intended to be a measure of welfare, it is nevertheless regularly used as one, perhaps reflecting the obvious need for a measure of welfare. The practical importance of measure(s) of social welfare cannot be overstated. Policy choices by government, and ultimately society, cost-benefit analyses, measures of growth and inequality, cross-country comparisons all refer to evaluations of individual and collective well-being. It is sometimes argued that changes in GDP are highly correlated with changes in economic well-being, but this misses the point that if what you measure is important, then by not actually measuring something it will not receive so much attention.
Gross Domestic Product (GDP) measures the production in an economy and is the most widely used measure of economic activity.4 Although GDP levels are correlated with many indicators of living standards, the correlation is not universal and improvements in GDP might not reflect gains experienced by a representative part of society. I can say that to improve Gross Domestic Product helps to develop country and good living condition for its inhabitants. And to measure real GDP correctly is important for country and its economics.
List of used literature
GDP:A brief but affectionate history by DIANE COYLE.Published in “Princeton University Press”, September 2015.
Gros domestic problems : The politics behind the world’s most powerful number. By LORENZO FIORAMONTI.Published in” Zed Books” , January 2013.
The growth delusion. By DAVID PILLING. Published in “ Bloomsbury” , August 2016.
Principles of Microeconomics. By GREGORY MANKISH. Printed in the
United States of America, September 2008.
Measuring welfare beyond GDP. The article of ANDREW AITKEN. N
National Institute Economic Review No. 249 August 2019 .
WWW.STAT.uz web-site
WWW.bankrate.com web-site
WWW.masterclass.com web-site
WWW.Prezident.uz web-site
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