Page 20 - DIVA1 2026

business climate Analysis of

uzbekistan – cErr Survey

In January, growth in the business climate was According to the survey, 22% of enterprises
mainly driven by an outpacing increase in the increased their number of employees. At the
expectations component. e agricultural sector same time, 71% of respondents expect demand
and services became the key drivers of business for their products to grow over the next three
con dence. months, compared to about 60% in the same
period last year.
The Center for Economic Research and Reforms The share of enterprises forecasting an increase
(CERR) presented the results of its business in employment in the coming quarter rose to
climate analysis based on monthly surveys 65%, up from 58% a year earlier.
of entrepreneurs across the republic. Based
on the collected data, a composite Business Sectoral Dynamics of the Business Climate
Climate Indicator was formed, reflecting both Index
current assessments of business conditions and In sectoral terms, an improvement in the business
expectations for the next 3 months. climate compared to last year was observed in
construction, agriculture, and services.
Dynamics of Uzbekistan’s Composite Business
Climate In agriculture, the Business Climate Index
In January of the current year, Uzbekistan’s increased by 62% year-on-year and reached 77
composite Business Climate Index stood at 64 points, compared to 48 points in January 2025.
points (on a scale from −100 to +100), which is Growth was mainly supported by a significant
23% higher than the level of 2025. improvement in assessments of current
The improvement in the business climate was conditions and more favorable expectations.
primarily driven by stronger assessments of the The current situation indicator in the sector
current business situation, which increased by increased 2.7 times from 27 to 72 points, while
28%. expectations grew by 17% to reach 82 points.
44% of entrepreneurs assessed the condition of
An additional contribution came from improved their business in the sector as “good,” compared
optimism regarding short-term business to 39% a year earlier. Growth in demand for
prospects. In particular, business expectations products over the past three months was reported
rose by 20%. by 46% of enterprises versus 39% in January last

0 w w w. d i va i n t e r n at i o n a l . c h