The following article and picture materials have been provided by the Embassy of the Republic of Uzbekistan in Seoul for publication by The Korea Post media, publisher of 3 English and 2 Korean-language news publications since 1985.—Ed.
The leading international economic statistical online portal Trading Economics, which evaluates over 20 million economic indicators in 196 countries of the world, has published for the first time the Business Climate Index of Uzbekistan calculated by the Center for Economic Research and Reforms (CERR).
According to the results of the January survey, the consolidated business climate indicator has shown a slight decrease since the beginning of the year. In particular, in January, the decline was significantly influenced by the dynamics of indicators in the agriculture and services sector.
Analysts estimate the state of the business climate in the country in January as positive. So, despite the decrease in the consolidated indicator by 3 points, it amounted to 54 points.
For reference: CERR conducts a monthly survey among 1 thousand entrepreneurs from various sectors of the economy. The consolidated business climate index is formed on the basis of indicators of the current state and expectations. Those, in turn, demonstrate a level of anxiety about obstacles in doing business. The sampling methodology of the study is an industry stratified random sample, according to the methodology of the "Enterprise Survey" of the World Bank. In turn, the business climate index of Uzbekistan was developed with the assistance of the Institute of Economic Research "Ifo Institut" and the consulting company "Berlin Economics" based on the methodology of the German Business Climate Index (Geschäftsklimaindex).
41% of respondents rated the current state of their business as "good", the share of those who noted as "bad" was 14%.
20% of enterprises increased the number of employees, and 41% of entrepreneurs noted an increase in demand for goods/services.
In January of this year, the indicator of the current state of the business climate decreased by 13 points and amounted to 34 points, which is explained by the deterioration in agriculture, industry and services. Nevertheless, there was a jump in the construction sector.
The indicator of expectations of business development prospects in the next 3 months remains at a fairly high level – 76 points, which is supported by optimism in all industries.