So near and yet so far: financial services in Uzbekistan have risen in price by 43.8% over the year

So near and yet so far: financial services in Uzbekistan have risen in price by 43.8% over the year

Financial services in Uzbekistan are becoming more expensive against the backdrop of market expansion. The main part of the financial market consists of services not related to insurance and pension provision. They account for 85.7% of the total volume. The share of insurance services is 7%, with auxiliary financial services accounting for another 7.3%.

Over the year — from September 2025 to September 2026 — insurance and financial services increased in price by 43.8%, showing the highest annual growth among the main categories of services. At the same time, the volume of the financial services market continues to grow. According to the National Committee of the Republic of Uzbekistan on Statistics, in January–August 2026 it reached 144.7 trillion sums — 22.5% more than in the same period last year.

Tashkent concentrated almost 60% of the market

The distribution of financial services volume by region demonstrates a noticeable gap between the capital and the rest of the country. The city of Tashkent accounted for 85.6 trillion sums — almost 60% of the national volume.

In other regions, the indicators are significantly lower. In January–August 2026, the volume of financial services amounted to:

Fergana region — 7 trillion sums;

Andijan region — 6.6 trillion sums;

Tashkent region — 6.5 trillion sums;

Samarkand region — 5.6 trillion sums;

Kashkadarya region — 4.8 trillion sums;

Khorezm and Surkhandarya regions — 4.1 trillion sums each;

Bukhara region — 4 trillion sums;

Namangan region — 3.9 trillion sums;

Jizzakh region — 3.6 trillion sums;

Republic of Karakalpakstan — 3.3 trillion sums;

Navoiy region — 3.2 trillion sums;

Syrdarya region — 2.4 trillion sums.

Thus, the market is growing in two directions at once: there are more financial services available, but using them is becoming noticeably more expensive. In other words, Uzbekistan's financial market is expanding, but for the consumer, this growth translates into a significantly higher cost.