BAKU, Azerbaijan, July 5. Uzbekistan’s retail
trade turnover reached 210.2 soms ($17.5 billion) in January-May of
2026, marking a 20.7% increase compared to the same period last
year.
This was reflected in the statement published by the National
Statistics Committee of Uzbekistan.
The latest data shows the country’s consumer market maintained
strong momentum, building on the 22.9% year-on-year growth recorded
in the January-April period, when retail turnover totaled 165.9
trillion soms (about $13.8 billion).
Small businesses and private entrepreneurs continued to dominate
the sector, generating 143.4 trillion soms (approximately $11.9
billion) in retail sales and accounting for 81.5% of total
turnover. Their market share rose from 82.2% in 2025 to 81.5% this
year, underscoring the central role of private enterprise in
Uzbekistan’s domestic trade.
Large enterprises contributed 38.9 trillion soms (about $3.2
billion), with their share increasing to 18.5%, up from 17.8% a
year earlier, a sign of growing consolidation and expanding formal
retail networks.
Regionally, Tashkent city posted the fastest retail growth at
133%, followed by Karakalpakstan at 132.1% and Syrdarya region at
127.2%, reflecting stronger consumer demand and accelerating
commercial activity outside the capital.
As of June 1, Uzbekistan had 88,686 registered retail trade
enterprises, including 439 large companies and more than 88,200
small businesses and microfirms, highlighting the scale of
entrepreneurial activity in the sector.
The data points to resilient domestic consumption in Uzbekistan,
as rising incomes, urbanization and business formalization continue
to support one of the fastest-growing retail markets in Central
Asia.
The latest figures underline the continued strength of
Uzbekistan’s consumer market, with retail trade remaining one of
the main contributors to economic expansion. Although the annual
growth rate moderated slightly from 22.9% in January-April to 20.7%
in January-May, the sector is still expanding at a pace well above
inflation, pointing to sustained household demand and improving
purchasing power. The steady rise in turnover also reflects broader
economic trends, including rising wages, stronger urban consumption
and the growing penetration of formal retail channels, due to the
latest data published by Trend.
At the same time, the structure of the market appears to be
gradually shifting. While small businesses and private
entrepreneurs continue to dominate, accounting for more than 81% of
total turnover, the share of large enterprises increased from 17.8%
to 18.5% over the year. This suggests a slow but notable
consolidation of the retail sector, as larger companies expand
their footprint through supermarkets, shopping centers and
organized supply chains. Such a shift could improve efficiency,
logistics and tax transparency, while also intensifying competition
for smaller market players.
Regional data further highlights the uneven but broadening
nature of retail growth. Strong performances in Tashkent city,
Karakalpakstan and Syrdarya indicate that consumer activity is no
longer concentrated solely in the capital, but is increasingly
spreading across the regions.
“This trend may signal improving infrastructure, stronger
regional incomes and greater access to goods and services outside
major urban centers. Taken together, the figures suggest
Uzbekistan’s retail sector is moving into a more mature phase of
development, balancing rapid expansion with gradual structural
transformation,” the Trend‘s analysis showed.
