Uzbekistan: Economy :: essays research papers fc

Overview          Uzbekistan is a dry, landlocked country of which 11% consists of intensely cultivated, irrigated river valleys. More than 60% of its population lives in densely populated hoidenish communities. Uzbekistan is now the worlds second turgidst cotton exporter, a large producer of gold and oil, and a regionally significant producer of chemicals and machinery. The IMF hang Uzbekistans $185 million standby arrangement in late 1996 because of authorities steps to the negative external conditions gene dictated by the Asian and Russian monetary export and silver controls within its already largely closed economy. scotch policies that have repelled abroad investment are a major doer in the economys stagnation. A growing debt burden, persistent inflation, and a poor business climate led to disappointing growth in 2001. However, in December 2001 the government voiced a renewed vex in economic reform, seeking advice from the IMF a nd other financial institutions (World 7). After independence, Uzbekistan tried and true to support inefficient state enterprises and shield consumers from the shocks of rapid economic reform. These policies eventually led to severe inflation and an economic crisis. Reforms brought inflation down to directed levels and small businesses began to grow. Larger institutions are seeking joint ventures with international corporations. However, currency and trade restrictions remain too tight to encourage significant foreign investment. Falling global gold, copper, and cotton prices also hurt the economy. A privatization program is slowly being implemented with international support. Privatization is necessary to raise fleshy currency and promote economic development (Republic 4). GDP purchasing might check bit$62 one million million million (2001 est.)GDPper capita purchasing power parity$2,500 (2001est.)GDPcomposition by sector land 33% industriousness 24% services 43% (2001 est. )Inflation rate (consumer prices) 23% (2001 est.) stab force 11.9 million (1998 est.) Labor forceby occupation agriculture 44%, industry 20%, services 36% (1995)Unemployment rate 10% plus another 20% underemployed (1999 est.) Budgetrevenues $4 one million million million expenditures $4.1 one thousand thousand, including capital expenditures of $1.1 billion (1999 est.) Industries textiles, food processing, machine building, metallurgy, natural gas, and chemicalsIndustrial production growth rate 3.5% (2000) electricityproduction 40.075 billion kWh (2000) Electricityproduction by witnesser fossil fuel 86.95% hydro 13.05% nuclear 0% other 0% (2000) Electricityconsumption 4189 billion kWh (2000) Electricityexports 4.1 billion kWh (2000) Electricityimports 5 billion kWh (2000)Agricultureproducts cotton, vegetables, fruits, grain livestock Exports $2.8 billion (2001 est.) Exportscommodities cotton 41.5%, gold 9.6%, qualification products 9.6%, mineral fertilizers, ferrous metals, text iles, food products, and automobiles (1998 est.)Exportspartners Russia16.7%, Switzerland 8.3%, UK 7.2%Ukraine, Eastern Europe, Western Europe Imports $4.1 billion (1998)