Business activity index increased in Uzbekistan in September

Business Activity Index in Uzbekistan Increased in September

The Business Activity Index evaluates the economic activity of business entities based on four components. These include interbank payment transactions (speed of capital circulation), activity on the commodity exchange (goods turnover), the dynamics of the number of operating business entities, and the registration of new trademarks.

The baseline value of the index is set at 1,000 units. A indicator value above or below this level indicates an increase or decrease in business activity compared to the previous month.

In September, growth was recorded in three of the four components of the index.

In September 2026, positive dynamics were observed in three of the four components of the business activity index:

- the number of operations on bank accounts of business entities increased by 10.5 percent,

- raw material purchasing activity on the commodity exchange increased by 87.6 percent,

- the number of operating business entities increased by 1.1 percent.

- the component for trademarks decreased by 1.6 percent.

When analyzed by region, the index grew in 13 regions of the republic, while in the Syrdarya region it decreased by 7.8 percent.

The highest growth rates were recorded in Jizzakh region (50.1 percent), Tashkent city (44.0 percent), Fergana region (43.8 percent), Tashkent and Namangan regions (43.0 percent each), as well as in Bukhara region (40.6 percent).

The number of interbank payment transactions increased by 10.5 percent

During the reporting period, the number of interbank payment transactions amounted to nearly 8 million, increasing by 0.8 million transactions, or 10.5 percent, compared to August. Compared to the same period of last year, the growth was 28.4 percent.

The number of interbank payment transactions increased in 9 regions. In particular, the number of bank operations between legal entities increased by 13.9 percent in Khorezm region, 11.6 percent in Tashkent city, 11.0 percent each in Andijan and Navoiy regions, 9.8 percent in Tashkent region, and 9.2 percent in Fergana region.

A decline was observed in some regions. Specifically, the number of interbank payment transactions decreased by 20.6 percent in Surkhandarya region, 5.7 percent in Kashkadarya, 4.4 percent in Syrdarya, 4.3 percent in the Republic of Karakalpakstan, and 2.5 percent in Bukhara region.

The overall growth is explained by the increase in the number of payment documents processed through the interbank electronic payment system of the Central Bank. In particular, compared to August:

- the number of memorial orders increased by 11.0 percent, or 242.6 thousand;

- the number of payment orders increased by 9.3 percent, or 429.9 thousand;

- the number of payment requests increased by 16.7 percent, or 3.0 thousand;

- the number of collection orders increased by 24.1 percent, or 78.5 thousand.

Activity in exchange trading increased significantly

In September 2026, the exchange component of the business activity index stood at 1.8765 units, an increase of 87.2 percent compared to August.

At the same time, the average volume of goods purchased per transaction increased by 139.4 percent, and the number of concluded transactions grew by 35.8 percent.

The total value of trade in the main 34 types of commodities on the Republican Commodity Exchange reached 10,229 billion soums in September, up by 14.3 percent compared to the previous month.

The growth in exchange activity was driven by a sharp increase in the trading volume of certain commodities.

In particular, the volume of sugar trading increased by 544.7 times compared to August, rising from 19 tons to 10.4 thousand tons. In September, 10.3 thousand tons of this volume were sold by "Angren Shakar" LLC.

In addition, the trading volume of industrial oil increased by 387.4 times, and technical seeds trading increased by 4.8 times, growing from 15.7 thousand tons to 75.8 thousand tons.

The trading volume of metallic zinc increased by 46 percent, soda ash (sodium carbonate) by 42 percent, and coal trading increased by 35 percent.

The number of operating business entities reached 554.9 thousand

In September, the component for operating business entities stood at 1.0107 units, an increase of 1.1 percent compared to August.

During the reporting period, the number of operating business entities of all types increased by 7,269, reaching 554.9 thousand.

In particular, the number of large business entities increased by 32, reaching 4,834. The number of small enterprises increased by 7.2 thousand, reaching 459.1 thousand.

These indicators show that the number of operating enterprises continued to grow in September.

The trademark component decreased by 1.6 percent

In September 2026, the component for trademarks stood at 0.9836 units, down by 1.6 percent compared to August.

During the reporting period, legal entities registered 480 trademarks and brand names.

The 38.9 percent growth of the Business Activity Index in Uzbekistan in September 2026 was mainly associated with the intensification of activity on the commodity exchange, an increase in the number of interbank payment transactions, and a rise in the number of operating business entities.

By region, positive dynamics were observed in 13 regions, while the index declined in Syrdarya region. A decrease was also recorded in the trademark component.