e producer
of gold and oil, and a regionally significant producer of chemicals
and machinery. Following independence in December 1991, the
government sought to prop up its Soviet-style command economy with
subsidies and tight controls on production and prices. Uzbekistan
responded to the negative external conditions generated by the Asian
and Russian financial crises by emphasizing import substitute
industrialization and by tightening export and currency controls
within its already largely closed economy. The government, while
aware of the need to improve the investment climate, sponsors
measures that often increase, not decrease, the government's control
over business decisions. A sharp increase in the inequality of
income distribution has hurt the lower ranks of society since
independence. In 2003, the government accepted the obligations of
Article VIII under the International Monetary Fund (IMF), providing
for full currency convertibility. However, strict currency controls
and tightening of borders have lessened the effects of
convertibility and have also lead to some shortages which have
further stifled economic activity.

GDP:
purchasing power parity - $43.99 billion (2003 est.)

GDP - real growth rate:
3.1% (2003 est.)

GDP - per capita:
purchasing power parity - $1,700 (2003 est.)

GDP - composition by sector:
agriculture: 38%
industry: 26.3%
services: 35.7% (2003 est.)

Population below poverty line:
NA (2004 est.)

Household income or consumption by percentage share:
lowest 10%: 1.2%
highest 10%: 32.8% (1998)

Distribution of family income - Gini index:
44.7 (1998)

Inflation rate (consumer prices):
13.1% (2003 est.)

Labor force:
14.2 million (2003 est.)

Labor force - by occupation:
agriculture 44%, industry 20%, services 36% (1995)

Unemployment rate:
0.5% plus another 20% underemployed (2003)

Budget:
revenues: $2.176 billion
expenditures: $2.207 billion, including capital expenditures of NA
(2003 est.)

Public debt:
42.3% of GDP (2003)

Agriculture - products:
cotton, vegetables, fruits, grain; livestock

Industries:
textiles, food processing, machine building, metallurgy, natural
gas, chemicals

Industrial production growth rate:
6.2% (2003 est.)

Electricity - production:
44.49 billion kWh (2001)

Electricity - consumption:
47.07 billion kWh (2001)

Electricity - exports:
3.99