Ratio of combined informal and shadow economies again rose 33.3% to the GDP in Uzbekistan In July-September. While in the end of June it stood at 32.9%. The GDP (9 months) reached 1.3 quadrillion soums (about $108.73 billion), with 7.6%. growth rate. This is the highest growth figure since 2021.

Total value of the shadow economy at433.67 trillion soums (about $36.17 billion) consists of two components: the informal sector (activities carried out by households and individuals): 333.82 trillion soums, 25.6% of GDP, and shadow sector (activity with elements of illegality or concealment): 99.85 trillion soums, 7.7% of GDP.

Trend: the ratio of the informal sector has increased compared to the first half of the year, while the ratio of the shadow sector has decreased.

Agriculture, forestry and fisheries - 69.4% of the total volume of the unobserved economy falls into this category. That is, the largest part of the activities not fully included in the official accounts is concentrated in the agricultural sector. The sectoral ratio of the unobserved economy in the services sector and construction is 36.2% and 35%, respectively. In industry, this indicator is 10.2%.

Note: here 69.4% is the ratio in the total volume, and the remaining figures represent the ratios within sectors; they are not added together.

The large ratio of the unrecorded economy affects tax revenues and budget opportunities, makes it difficult to obtain an accurate picture of jobs and wages in labor market statistics, and affects the coverage of social protection (participants in informal activities may be excluded from pension and insurance systems).

Meanwhile, a certain part of informal activity also serves as an adaptation mechanism for small businesses and households. Their gradual formalization, accounting, and transfer to the formal economy through simplified procedures is a practice used by many countries.

While GDP growth accelerated in the first nine months of 2025, the ratio of the unrecorded economy, which reached 33.3%, indicates that a large part of the economy is still outside the official accounts. The very high ratio in the agricultural sector, in particular, indicates the need to further strengthen the work on regulating business models and accounting in rural areas.