Economy

Harvard Growth Lab: Uzbekistan climbs 25 positions in Economic Complexity Index in 5 years The Center for Economic Research and Reforms (CERR) has conducted an analysis of the Economic Complexity Index (ECI) published by the Growth Lab at Harvard University. According to the results, Uzbekistan’s economy has been growing steadily, with exports increasing by an average of 20.5% per year - well above the growth rates of other countries in the region.

Tashkent, April 18, 2025. The Growth Lab at Harvard University has released the latest results of its Economic Complexity Index (ECI), a ranking based on the technological sophistication and diversification of national exports.

In April this year, analysts at the Harvard Growth Lab (an interdisciplinary project at Harvard University) updated the Atlas of Economic Complexity with 2023 data and published a ranking of 145 global economies based on their ECI scores.
Uzbekistan has made significant progress, moving up 25 places over the past 5 years to 80th out of 145 countries.

comparison: Uzbekistan ranks 80th, Turkey - 44th (up 5 places), Vietnam - 53rd (unchanged), Kazakhstan - 84th (down 6 places), Russia - 94th (down 5 places), Tajikistan - 124th (up 5 places), Turkmenistan - 126th (down 12 places).
The top three countries in the ECI ranking are: Switzerland, Japan, and Singapore.
Uzbekistan’s economy is growing steadily, with average annual export growth of 20.5%, well above the pace of other regional economies. Non-oil exports alone grew by 21.9% annually, outpacing the global average.

Semi-finished industrial goods have been the main drivers of export growth over the past five years. Among more technologically sophisticated product groups, the highest export growth rates were observed in: transportation equipment - 89%, industrial machinery - 77%, and electrical equipment - 59%.

Uzbekistan added 67 new products to its export portfolio, generating $2.1 billion in export revenue, underscoring the success of the country’s diversification and competitiveness strategy. These new products will generate $59 per capita in 2023.
The Harvard Growth Lab estimates that Uzbekistan has 162 products with proven competitive advantages in global markets, highlighting the country’s growing potential in the global economy.

Economic Growth Forecast to 2033

Uzbekistan is projected to maintain an average annual GDP growth rate of 5.6% through 2033 - the second highest in the world.
Comparative annual growth forecasts for the next decade include: Vietnam - 4.8%, Tajikistan - 4%, Kyrgyzstan - 3.9%, Georgia - 3.6%, Kazakhstan - 3.6%, Armenia - 3.3%, Bangladesh - 3%, Turkmenistan - 2.7%, Belarus - 2.4%, Azerbaijan - 2.2%, Russia - 1.1%.

Uzbekistan continues to pursue structural transformation of its economy by reallocating resources from less productive sectors, such as agriculture, to more productive industries, including electronics and mechanical engineering.

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