Tashkent (TDI): The Harvard Growth Lab has published the Economic Complexity Index (ECI) report, which forecasts Uzbekistan’s economy to achieve an average GDP growth rate of 5.6% annually in the next eight years.
According to the latest findings, Uzbekistan’s economy has demonstrated steady growth, with a rise in exports by an average of 20.5% annually.
The Economic Complexity Index (ECI) data published by the Harvard Growth Lab, which is an interdisciplinary project at Harvard University, has ranked the countries based on technological sophistication and diversification of national exports.
In April 2025, several analysts from the Harvard Growth Lab had published the report of the economic growth of 145 countries, after comparing it with the ECI data gathered in 2023. The report indicated the ranking of 145 global economies based on their ECI scores.
According to the latest findings, Uzbekistan has made substantial progress and has climbed 25 positions over the past 5 years to reach 80th place. The top three countries, according to the latest ECI ranking are Switzerland, Japan, and Singapore.
The report also indicated that the economy of Uzbekistan has shown stable growth, with an incline in the average annual export growth reaching 20.5%. Non-oil exports have increased by 21.9% annually.
Over the last five years, Uzbekistan’s primary drivers of export growth have been semi-finished industrial goods. A large share in country’s economic growths came from the export of transport equipment, industrial machinery and electrical products.
The country had, in the past few years, added 67 new products to its export portfolio, generating $2.1 billion in export revenues, indicating Uzbekistan’s economic strategy of diversification and competitiveness.
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Altogether, due to the addition of new export products, the country generated $59 per capita in 2023.
According to Harvard Growth Lab, Uzbekistan had a total of 162 products, which had demonstrated competitive advantages in global markets.
It highlighted Uzbekistan’s growth potential in today’s competitive and challenging global economy.
The report also forecasted other countries’ annual economic growth in the next 8 years, including Tajikistan which would achieve growth of 4%, Kyrgyzstan 3.9%, Georgia 3.6%, Kazakhstan 3.6%, and Vietnam – 4.8%.
Javaria Khalid is a writer and researcher, who specializes in Pakistan's Foreign Policy Analysis, transatlantic geopolitics, and Pakistan’s relations with the European countries and the EU. She can be reached at javariakhalid011@outlook.com
