|Packaged of Medicaments|
Uzbekistan, officially the Republic of Uzbekistan, is a doubly landlocked country in Central Asia. It is a unitary, constitutional, presidential republic, comprising twelve provinces, one autonomous republic and a capital city. Uzbekistan is bordered by five countries, Kazakhstan to the north; Tajikistan to the southeast; Kyrgyzstan to the northeast; Afghanistan to the south; and Turkmenistan to the southwest.
Uzbekistan’s banks have demonstrated reasonably stable performance in a largely state-dominated local economy. Sector stability is currently supported by rapid economic growth, low exposure to external financial markets and the strong external and fiscal position of the sovereign. However, the sector remains vulnerable to possible economic shocks due to weak corporate governance and risk management, fast recent asset growth, significant directed lending and acquisitions of problem assets. Banks’ foreign currency obligations, specifically those arising from trade finance, are particularly vulnerable due to existing foreign exchange constraints.
According to Fitch Ratings, there are notable risks of asset quality deterioration in case of a reversal in economic trends. The funding base is mainly short-term, largely sourced from corporate current accounts, while retail funds account for only a small 25% of total deposits. Longer-term funding is provided by the Ministry of Finance and other state agencies, which comprise a notable proportion of sector liabilities. Foreign funding is small, estimated at about 10% of the total liabilities, and plans for further borrowings are moderate. Liquidity management is constrained by the lack of deep capital markets, and banks generally tend to hold substantial cash reserves on their balance sheets. The quality of capital is sometimes compromised by less conservative regulatory requirements for recognition of credit impairment and by investments in non-core assets.
|Agriculture||fruits, vegetables, grapes.|
|Manufacture||Cotton, T shirts, Cars, chemicals, oil and etc.|
|Services (Including financial)||49.5% (2014 est.)|
|Central Bank of Uzbekistan||Financials|
|GM Uzbekistan||Consumer goods|
|MAN Auto-Uzbekistan||Consumer goods|
|Navoi Mining and Metallurgy Combinat (NMMC)||Basic materials|
|Tashkent Aviation Production Association||Industrials|
|Uzbekistan Airways||Consumer services|
|Uzbekneftegaz||Oil & gas|
|Packaged of Medicaments|
Since gaining independence, the Government of Uzbekistan has stated that it is committed to a gradual transition to a market-based economy. The progress with economic policy reforms has been a cautious one, but cumulatively Uzbekistan has shown respectable achievements. The government is yet to eliminate the gap between the black market and official exchange rates by successfully introducing convertibility of the national currency. Its restrictive trade regime and generally interventionist policies continue to have a negative effect on the economy. Substantial structural reform is needed, particularly in these areas: improving the investment climate for foreign investors, strengthening the banking system, and freeing the agricultural sector from state control. Remaining restrictions on currency conversion capacity and other government measures to control economic activity, including the implementation of severe import restrictions and sporadic closures of Uzbekistan's borders with neighboring Kazakhstan, Kyrgyzstan, and Tajikistan have led international lending organizations to suspend or scale back credits.
Working closely with the IMF, the government has made considerable progress in reducing inflation and the budget deficit. The national currency was made convertible in 2003 as part of the IMF-engineered stabilization program, although some administrative restrictions remain. The agriculture and manufacturing industries contribute equally to the economy, each accounting for about one-quarter of the GDP. Uzbekistan is a major producer and exporter of cotton, although the importance of this commodity has declined significantly since the country achieved independence. Uzbekistan is also a big producer of gold, with the largest open-pit gold mine in the world. The country has substantial deposits of copper, strategic minerals, gas, and oil.
Once part of the Turkic Khaganate and later Timurid Empires, the region that today includes the Republic of Uzbekistan was conquered in the early 16th century by Eastern Turkic-speaking nomads. The area was gradually incorporated into the Russian Empire during the 19th century, and in 1924 what is now Uzbekistan became a bordered constituent republic of the Soviet Union, known as the Uzbek Soviet Socialist Republic (Uzbek SSR). Following the breakup of the Soviet Union, it declared independence as the Republic of Uzbekistan on 31 August 1991 (officially celebrated the following day). Uzbekistan is officially a democratic, secular, unitary, constitutional republic with a diverse cultural heritage. The country's official language is Uzbek, a Turkic language written in the Latin alphabet and spoken natively by approximately 85% of the population; however, Russian remains in widespread use. Uzbeks constitute 81% of the population, followed by Russians (5.4%), Tajiks (4.0%), Kazakhs (3.0%), and others (6.5%). A majority of Uzbeks are non-denominational Muslims. Uzbekistan is a member of the Commonwealth of Independent States (CIS), Organization for Security and Co-operation in Europe (OSCE), UN, and the SCO. While officially a democratic republic, non-governmental human rights organizations define Uzbekistan as "an authoritarian state with limited civil rights".Uzbekistan's economy relies mainly on commodity production, including cotton, gold, uranium, and natural gas. Despite the declared objective of transition to a market economy, its government continues to maintain economic controls which imports in favour of domestic "import substitution".
Shahruk h Mirza
The som is the currency of Uzbekistan in Central Asia. The ISO 4217 currency code is UZS. Like other republics of the former Soviet Union, Uzbekistan continued using Soviet/Russian ruble after independence. On July 26, 1993, a new series of Russian ruble was issued an old Soviet/Russian ruble ceased to be legal tender in Russia. Some successor states had their national currencies before the change, some chose to continue using the pre-1993 Soviet/Russian ruble, and some chose to use both the pre-1993 and the new Russian ruble. Tables of modern monetary history: Asia implies that both old and new rubles were used in Uzbekistan. Uzbekistan replaced the ruble with som at par in on November 15, 1993. No subdivisions of this som were issued and only banknotes were produced, in denominations of 1, 3, 5, 10, 25, 50, 100, 200, 500, 1000, 5000, and 10,000 so'm. Because it was meant to be a transitional currency, the design was rather simplistic. All notes had the Coat of arms on the obverse, and Sher-Dor Madrasah of the Registan in Samarkand on the reverse. They only differ in color and value.
On July 1, 1994, a second som was introduced at a rate of 1 new so'm = 1000 old so'm. This so'm is subdivided into 100 tiyin. At its introduction, 1 U.S. dollar was equal to 25 so'm. As of January 2016, the largest denomination of Uzbek currency, the 5000-som bill, is worth the approximately U.S. $1.78, requiring Uzbeks to carry enormous numbers of bills just to carry out grocery shopping and bill payment. Consequently, the smallest denomination, the 1 tiyin, is only worth 1/2790 cent U.S. making it the "world's most worthless coin". However, coins and banknotes smaller than 25 som are rare now. The rampant inflation situation is considered a politically sensitive issue in Uzbekistan, which is why the Uzbek government is slow to acclimate the currency to the current value by issuing higher coin and note denominations. As a result, the current highest coin denomination in circulation is the 100 som while the highest banknote denomination is the 5000 som. Official state figures put inflation as of the first half of 2011 at 3.6%, however accurate numbers are pinned far higher. Coins and banknotes below 25 so'm are practically worthless now.
|National Song||"O`zbekiston Respublikasining Davlat Madhiyasi"|
|Currency||Uzbekistani som (UZS)|
|GDP / GDP Rank||205.689 Billion USD|
|GDP Growth Rate||8 Percent|
|GDP Per Captial||$6562.554 (PPP)|
UTC+05:00 (Uzbekistan Time)
< 1.0% Hindus
< 1.0% Buddhists
< 1.0% Jews
< 1.0% Other Religions
President – Shavkat Mirziyoyev[α]
Prime Minister – Abdulla Aripov
|Website||Go to the web|
|Public Debt||11.59 Percent|
|Unemployment Rate||8.895 Percent|
|Labor Force (Occupation)||-|