Share of the non-observed economy in Uzbekistan fell to 21.8% of GDP

Decline in the share of the shadow economy

Over the first nine months of 2026, the share of the non-observed economy in Uzbekistan fell to 21.8% of gross domestic product. According to the report of the National Statistics Committee, this figure is lower than the indicators for the first half of the year (22.9%) and the same period of 2025 (23.9%). Total GDP for January–September reached 1,755 trillion soums, showing growth of 8.3% in real terms.

Sectoral structure of the changes

The highest concentration of non-observed activity remains in agriculture, forestry and fisheries, where its share was 57.6%, although this indicator declined compared with the first six months of the year (60.5%). A significant reduction was recorded in construction (from 17.8% to 8.3%) and industry (from 6.7% to 4.9%). At the same time, in the services sector the share of the shadow economy rose from 23% to 23.8%, reflecting shifts in the structure of unrecorded activity.

What this means in practice

The decline in the overall share of the non-observed economy to 21.8% indicates that part of economic activity has moved into the legal sphere, especially in agriculture and construction. Meanwhile, the increase in the services sector suggests that formalization processes in this industry are proceeding more slowly or are accompanied by the emergence of new unrecorded transactions. The data are based on a methodology that takes into account the activities of households, individuals and the shadow sector.