BAKU, Azerbaijan, July 7. Uzbekistan’s service
sector maintained strong momentum in the period from January
through May 2026, with the total volume of market services reaching
533.1 trillion soms ($44.5 billion).
This data was reflected in the statement published by the
National Statistics Committee of Uzbekistan.
According to the National Committee on Statistics, this
represents a real growth of 16.5% compared to the same period last
year.
”This is a notable acceleration from the 13.3% growth recorded
in the period from January through May 2025, when the sector stood
at 434.4 trillion soms (approximately $36.2 billion).
The figures suggest that the service economy remains one of the
key growth drivers of Uzbekistan’s broader economic activity,
supported by urban demand, business expansion, and rising household
consumption,” National Statistics says.
A significant concentration of services remains in Tashkent,
which accounted for 41.1% of the national total, equivalent to
218.9 trillion soms (about $18.2 billion). The capital also posted
a strong growth rate of 18.6%, underlining its dominant role as the
country’s commercial and financial center.
Outside Tashkent, the largest service volumes were recorded in
the Samarkand Region (38.4 trillion soms- $3.2 billion), Tashkent
Region (36.2 trillion soms- $3 billion), and Fergana Region (34.8
trillion soms- $2.9 billion), reflecting strong regional
diversification.
In terms of growth dynamics, the fastest expansion was seen in
Navoi Region at 19.6%, followed by Surxondaryo Region (17.1%). This
indicates increasing service activity beyond traditional economic
hubs.
Per capita service consumption also rose sharply to 13.9 million
soms (about $1 161), compared to 11.5 million soms (around $960) a
year earlier, showing stronger purchasing power and broader access
to services.
Small businesses played a crucial role, generating 296.4
trillion soms (approximately $24.7 billion), or 55.6% of all
services. Their highest contribution was recorded in the Fergana
Region (75.1%), highlighting the growing importance of
entrepreneurship in regional economic development.
Overall, the data points to a broad-based and increasingly
decentralized expansion of Uzbekistan’s service sector, although
the heavy reliance on Tashkent continues to reflect structural
imbalances in the economy.
According to Trend‘s analysis, Uzbekistan’s service sector
continues to demonstrate strong resilience and broadening regional
expansion, reinforcing its role as one of the country’s main
economic growth engines. The acceleration of real growth from 13.3%
in the period from January through May 2025 to 16.5% in the same
period of 2026 signals rising domestic demand, improving business
activity, and greater diversification of services across the
economy. While Tashkent remains dominant, accounting for 41.1% of
the total market volume, stronger performances in regions such as
Navoi Region, Surxondaryo Region, and Fergana Region indicate a
gradual decentralization of service-sector growth. The increase in
per capita services to 13.9 million soms (about $1 161) further
reflects improving consumer spending power and wider access to
commercial services. At the same time, the fact that 55.6% of all
services were generated by small businesses highlights the critical
role of entrepreneurship in sustaining economic momentum. The
figures also align with Uzbekistan’s broader macroeconomic
trajectory, where services are becoming increasingly important in
supporting GDP expansion, employment creation, and structural
transformation as the country advances market-oriented reforms.
