Uzbekistan's economy grew by 8.5% [1] during the first half of 2026, a presidential review released Friday said.
This expansion signals a period of rapid macroeconomic stabilization for the Central Asian nation. The growth is driven by a combination of expanding service sectors and a surge in both domestic and foreign investment, positioning the country as an increasingly attractive destination for international capital.
Government data shows that investment reached €24.6 billion [1] during the first six months of the year. This influx of capital has supported a broader industrial, and service-based expansion across the region. Simultaneously, the country's trade balance remained robust, with exports totaling €12.7 billion [1] in the same period.
The fiscal performance has caught the attention of global credit agencies. Moody's upgraded the sovereign credit rating for Uzbekistan [1] following the recent economic data. In a similar move, Fitch shifted its outlook for the country to positive [1].
These upgrades reflect a growing confidence in the Uzbek government's ability to manage its debt and maintain growth trajectories. The shift toward a more service-oriented economy has helped diversify the nation's revenue streams, reducing reliance on a few primary commodities.
The presidential review said that the expansion in services played a central role in the 8.5% [1] growth rate. This trend suggests a structural shift in the economy, moving toward higher-value industries and modernized infrastructure.
“Uzbekistan's economy grew by 8.5% during the first half of 2026”
The simultaneous upgrades from Moody's and Fitch, paired with high GDP growth, indicate that Uzbekistan is successfully transitioning its economic model. By increasing investment and expanding the services sector, the country is lowering its risk profile for foreign investors and strengthening its resilience against global commodity price volatility.
