AKIPRESS.COM - After reassessment, Uzbekistan's GDP for 2023 increased by 12%, reaching $101 billion. The $10.7 billion increase in nominal GDP is related to the inclusion of the shadow economy in the reassessment, Kun.uz reported.

In collaboration with a mission from the World Bank, the national statistics agency reassessed the country's GDP, taking into account the shadow economy.

The agency had previously reported that Uzbekistan's GDP for 2023 was $90.8 billion. After including the informal and shadow economy in the reassessment, this figure increased by $10.7 billion, reaching $101.6 billion.

The results of the study were announced on July 31 at a conference at the Center for Economic Research and Reforms.

According to Levan Gogoberishvili, a specialist in real sector statistics from the International Monetary Fund (IMF), reassessing national accounts to include the informal economy ensures the completeness of statistical data and provides a more accurate picture of the economy's state.

Gogoberishvili stated that the major changes in the 2019 reassessment of Uzbekistan's national statistics were related to agricultural data. The 2024 reassessment, however, showed significant changes in figures for construction, hotels and restaurants, healthcare, education, and other sectors.

According to the IMF representative, the nominal GDP level is expected to increase by approximately 10-12% as a result of the reassessment. At the same time, the maximum change in the real GDP growth rate is expected to be around 0.8 percentage points.