BAKU, Azerbaijan, July 4. Uzbekistan’s
wholesale trade turnover reached 209.4 trillion soms ($17.5
billion) in the first five months of 2026, marking a 15.4% increase
compared to the same period last year.


This was reflected in the statement published by the National
Statistics Committee of Uzbekistan.


As of June 1, the number of enterprises operating in the
wholesale sector stood at 55,216, including 452 large companies and
54,764 small businesses and microfirms.


Large enterprises accounted for 68.2 trillion soms (about $5.7
billion) in turnover, posting 28.2% growth, while small businesses
generated 141.2 trillion soms (approximately $11.8 billion), up
10.1% year-on-year. Small businesses retained a dominant 67.4%
share of the wholesale market.


Regionally, the strongest wholesale trade growth was recorded in
Navoi and Fergana, both at 19.7%, followed by Kashkadarya at 18.6%
and Tashkent city at 18.4%. The slowest expansion was seen in
Jizzakh and Namangan, where growth stood at 6.6%.


Analysis


Uzbekistan’s wholesale trade data points to both broad national
growth and increasingly uneven regional dynamics. While the
country’s total wholesale turnover expanded by 15.4% in January-May
2026, quarterly data shows that only four regions — Jizzakh,
Kashkadarya, Fergana, and Khorezm — maintained uninterrupted
month-on-month acceleration in the first quarter.







Among them, Jizzakh emerged as the strongest growth point, with
wholesale trade growth surging from 110% in January to 125.3% in
February, before jumping to 216.5% in March, according to the data
published by Trend.This sharp acceleration suggests a rapid
expansion of distribution channels or a major increase in
commercial activity, potentially linked to industrial supply flows
or regional infrastructure improvements.


A similar pattern in Kashkadarya — where growth rose from 114.9%
to 172.2% over the quarter — signals strengthening trade networks
in southern Uzbekistan, likely supported by energy, agriculture,
and local manufacturing demand. Meanwhile, Fergana and Khorezm
showed more moderate but consistent gains, reinforcing their role
as active consumption and production hubs.


These regional trends matter because they show where wholesale
activity is becoming more concentrated. While Uzbekistan’s
wholesale sector remains dominated by small businesses, accounting
for 67.4% of total turnover, faster growth among larger enterprises
suggests that supply chains are gradually becoming more organized
and centralized.


This comes as Uzbekistan continues broader economic
transformation. Since 2017, structural reforms aimed at
liberalization, privatization, and improving the business climate
have helped sustain average GDP growth of around 6% annually,
turning trade into one of the largest pillars of the economy.
Wholesale and retail businesses now represent the largest share of
the country’s more than 470,000 active enterprises, reflecting
strong domestic demand and expanding logistics networks.


"In the longer term, this trend aligns with Uzbekistan’s 2030
development strategy, which prioritizes job creation, poverty
reduction, and deeper integration into global markets. If wholesale
trade continues expanding at current rates, particularly in
high-growth regions, it could strengthen internal market
connectivity and improve Uzbekistan’s competitiveness ahead of its
expected accession to the World Trade Organization." according to
Trend's analysis.