Business activity in Uzbekistan maintained a positive trend in August

Business activity in Uzbekistan maintained positive dynamics in August

The Business Activity Index (BAI), calculated by the Center for Economic Research and Reforms, stood at 990 points in August 2026, which is 1.0% lower than the figure of the previous month. At the same time, an increase of 29% was recorded compared to the same period last year.

In August of this year, the following changes were observed in the components of the BAI: the component for the number of transactions on bank accounts of business entities decreased by 6.2%; the intensity of raw material purchases on the commodity exchange increased by 2.7%; the component for active business entities increased by 2.3%; the component for trademarks decreased by 12.5%.

In addition, growth in the BAI compared to the previous month was recorded in 6 regions. The most notable increase was registered in Syrdarya region (37.9%), the Republic of Karakalpakstan (36.6%), Tashkent city (7.6%), Jizzakh (7.2%), Navoiy (4.5%), and Khorezm (2.9%) regions.

In the remaining 8 regions, the indicator decreased. The most significant reduction was noted in Bukhara (-19.5%), Surkhandarya (-18.6%), Kashkadarya (-16.3%), Namangan (-11.4%), and Fergana (-10.7%) regions.

**Interbank payment transactions**

In the reporting period, the number of interbank payment transactions amounted to 7,185.9 thousand, which is 474.9 thousand transactions, or 6.2%, less than in July 2026. Compared to the corresponding period of last year, the growth was 18.9%.

The number of interbank payment transactions decreased in all 14 regions. In particular, a significant decrease in the number of banking transactions between legal entities compared to the previous month was recorded in Karakalpakstan (25.3%), Syrdarya (24.4%), Jizzakh (21.8%), and Namangan (20.2%) regions.

This decrease is explained by a reduction in the total number of payment documents processed through the Central Bank's interbank electronic payment system. Compared to July 2026, the number of memorial orders decreased by 9.6%, or 234.1 thousand, payment orders — by 3.5%, or 167.6 thousand, payment claims — by 9.8%, or 1.9 thousand, collection orders — by 18.0%, or 71.3 thousand.

**Exchange component**

The exchange component of the BAI stood at 1.0267, increasing by 2.7% compared to the previous month. At the same time, the average volume of goods purchased per transaction increased by 21.1%, while the number of concluded transactions decreased by 15.8%.

The total value of trades for 34 main types of goods on the Republican Commodity and Raw Materials Exchange in August 2026 amounted to 9,138 billion soums, which is 6% less than a month earlier.

The main factors of exchange activity were the increase in trade volumes compared to the previous month of: animal feed — by 11.4 times; coal — by 7.6 times; AI-91 gasoline — by 49%; polypropylene — by 34%; cottonseed meal — by 31%; technical seeds — by 21%.

**Active business entities**

In the reporting period, the component of active business entities stood at 1.0231, increasing by 2.3% compared to the previous month.

At the same time: the total number of active business entities increased by 11,620 units and reached 547.6 thousand; the number of large enterprises grew by 143 and amounted to 4,802; the number of small enterprises increased by 10.9 thousand, reaching 451.9 thousand; the number of farms grew by 575 and amounted to 90.9 thousand.

**Trademarks**

The trademark component stood at 0.8746, decreasing by 12.5% compared to the previous month.

During this period, 488 trademarks and trade names were registered by legal entities.